SBI Life supports children from “Parikrma Humanity Foundation” at Bangalore
Bangalore, 1st March 2017: SBI Life Insurance, a socially inclined life insurance company through its CSR outreach has extended its support to 330 children at Sahakaranagar, a slum area in Bangalore. Through this CSR initiative, SBI Life attempts to provide a 360 degree model of quality English education to the poorest of the poor. The initiative covers every aspect of the child’s needs which includes sports, nutrition, primary health care and family care to ensure a stable home environment along with education facilities.
Speaking about the initiative, Mr. Arijit Basu, MD & CEO, SBI Life, said, “Through such initiative, we strive to reach out to the deprived children and encourage them with equal chance to access and cherish the best possible opportunities. The end-to-end development approach not only helps the children to excel and grow in a conducive environment but also ensures that they become positive contributors to the Nation.”
Ms. Shukla Bose, Founder & CEO, Parikrma Humanity Foundation, said that, “’Circle of Life’ or ‘Parikrma’, is a promise to provide solutions related to education and development, nutrition, health care and home in the lives of Bangalore’s under-served children. All our four schools deliver the Parikrma model of education and get our students ready for productive and satisfying careers. With SBI Life’s support we aim to positively impact many more lives of under-served children and their families.”
SBI Life has tried to ameliorate conditions of over one lakh children from the underprivileged sections of the society, by facilitating them with education through its initiatives such as ‘Shiksha Ki Kiran’ ,‘Shiksha se Safalta’, ‘Khushiyon ka Lunch Box’ and ‘My Art My World’.
Company has extended its CSR initiatives to the children from the rural areas, by providing safe drinking water, sanitation and electricity, along with better infrastructure and healthcare facilities. SBI Life supports genuine initiatives with a vision to promote and facilitate the children to emerge as productive assets in a sustainable and scalable manner and thereby, set a foundation for nation building.
About SBI Life Insurance Company Ltd.:
SBI Life Insurance Co Ltd is a joint venture between State Bank of India (SBI) and BNP Paribas Cardif S.A.(BNP Paribas Cardif). SBI owns 70.1% of the total capital and BNP Paribas Cardif holds 26%, while Value Line Pte. Ltd. (an affiliate of KKR Asian Fund II L.P.) and MacRitchie Investments Pte. Ltd. (an indirect wholly owned subsidiary of Temasek Holdings Pvt. Ltd.) hold 1.95% each. SBI Life Insurance has an authorized capital of Rs. 2,000 crores and a paid up capital of Rs 1,000 crores.
Along with its 5 Associate Banks, State Bank Group has the unrivalled strength of over 25,000 branches across the country. BNP Paribas, one of the leading banks in Europe, ranks 5th in the banking industry worldwide. BNP Paribas Cardif is the insurance arm of BNP Paribas and a worldwide leader in Creditor insurance products.
SBI Life’s mission is to emerge as the leading company offering a comprehensive range of Life Insurance and pension products at competitive prices, ensuring high standards of customer service and world class operating efficiency.
SBI Life has a unique multi-distribution model encompassing the vibrant Retail Agency, Bancassurance, Alternate Channel, Corporate Solutions and Emerging Business. SBI Life’s Agency Channel, comprises of a productive force of over ninety two thousand Insurance Advisors. SBI Life operates and offers its services through its huge network of over 790 SBI Life offices, across India.
SBI Life extensively leverages the State Bank Group relationship as a platform for cross-selling insurance products along with its numerous banking related product offerings such as cover for housing loans and personal loans, SBI’s access to over 100 million accounts across the country provides a vibrant base for insurance penetration across every region and economic strata in the country, thus ensuring financial inclusion in the real sense.