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SMFG India Credit Co. Ltd. Fosters Social Upliftment Through CSR Initiatives

SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.), a leading Non-Banking Financial Company (NBFC), offering a wide range of financial services, is making significant strides in corporate social responsibility (CSR) with its brand "Uday - Ek Nayi Subah". SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) has entered the World Book of Records for its path-breaking Pashu Vikas Day cattle care camp. Through consistent CSR efforts and working with villages in rural areas, SMFG India Credit fosters social upliftment in Rural India. This has helped in creating meaningful impact in areas of Livelihood, Healthcare, Education, Environment and Cattle Care. SMFG India Credit’s key initiative ‘Pashu Vikas Day’ observed benefits for 71,400+ cattle and 20,400+ cattle owners through health camps across 15 states. Also, it has positively impacted more than 25 Lakh lives since 2014. Through comprehensive initiatives focused on sustainable livelihood, healthcare, education, environment and cattle care, the organisation is playing a pivotal role in uplifting the marginalised segments of society and contributing to socio-economic growth of the under-privileged community. SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) has been included in the World Book of Records for organising the ‘Largest Cattle Care Camp on a single day’ as a part of its unique Pashu Vikas Day initiative. It has been acknowledged by the Limca Book of Records (2014 & 2015), Best of India Records (2018), World Book of Records 2019 as well. In FY23, this initiative was organised across 375 rural (SMFG Gramshakti) branches, covering 450+ villages in 15 states across India, in one single day, with the support of 4,000 employee volunteers, treating over 72,000 cattle. With innovative programs and extensive rural reach, SMFG India’s CSR initiatives have touched over 2.5 million lives as the company continues to prioritize social responsibility, inclusivity, and sustainable development. Commenting on the significance of CSR initiatives, Swaminathanan Subramanian, Chief People Officer, SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.), said, "At SMFG India Credit, we firmly believe in creating a positive and lasting impact on society. By empowering individuals and enabling their self-sufficiency, we are paving way for a brighter future and contributing to economic growth in semi-urban and rural areas. SMFG India Credit's CSR initiatives under the brand name "Uday - Ek Nayi Subah" are driven by collaboration and partnerships with local communities, NGOs and governmental bodies. Our CSR efforts represent our commitment to fostering holistic development and social upliftment. By leveraging collective efforts, we strive to address the root causes of social challenges and create positive impact in the lives of individuals and communities.” SMFG India Credit's commitment to empowering the underprivileged and driving positive change in rural regions is evident in its strategic design and implementation of skill enhancement and educational programs. These initiatives target unserved and underserved rural communities, targeting women and youth in tier 3-4 cities, equipping them with essential skills for entry-level jobs in the healthcare, banking and finance sectors. By empowering rural youth and women to become self-reliant through enhanced financial management and decision-making abilities, SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) is fostering a meaningful and visible change in people’s lives. To ensure the effective implementation of CSR initiatives, SMFG India Credit has collaborated with various NGOs and has also engaged its rural (SMFG Gramshakti) branches for enhanced expanse. The company runs programs in multiple areas to benefit communities residing in remote parts of the country. Some of their key projects include

  • Nirmaya - Mobile Health Vans (MHV): SMFG India Credit has 17 MHV’s, which cover 100+ villages across 10 states and support 1,000+ OPDs every day. It is one of the few organisations in India to have 17 MHV’s operational under CSR

  • Project Jyoti – This project addresses the issue of avoidable blindness by making eye care accessible to the underprivileged in both rural and urban areas. Through 16 Vision Care Centres (VCC) and 2 dedicated Mobile Vision Care vans, more than 1,17,000 people benefited in FY23

  • Sakhi - Financial Literacy Programme: Under this programme, SMFG India Credit has empowered more than 30,000 women in FY23 towards better financial awareness and decision making leading to enhanced social status in their community

  • Krishi Mitra - Environmental Sustainability: The Krishi Mitra project promotes organic farming and emphasizes the benefits of soil and water conservation, thereby promoting nutrition and environmental sustainability. More than 5000 farmers are associated with the project for contributing to a better and sustainable world.

About SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) is registered as an NBFC - Investment and Credit Company (NBFC-ICC) with the Reserve Bank of India, and a member of SMFG. SMFG India Credit started its India operations in 2007 and has established a pan India presence – across 600 towns and 65,000+ villages through 729 branches and over 16,500 employees offering lending products to underserved & unserved retail and small business borrowers. By doing so, it has introduced people to formal credit. SMFG India Credit’s primary services constitute financing of SME for working capital and growth, loans for commercial vehicles and two-wheelers, home improvement loans, loans against property, personal loans, working capital loans for urban self-employed and loans for rural livelihood advancement, rural housing finance and financing of various rural micro enterprises. Shareholders - Sumitomo Mitsui Financial Group (SMFG) SMFG holds a 74.9% stake in SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) and is one of the largest global banking and financial service groups, offering a diverse range of financial services including commercial banking, leasing, securities and consumer finance with a heritage exceeding 400 years in Japan. SMFG is listed on the Tokyo and New York (via ADR) Stock Exchanges and has a market capitalization of approximately US$58.4 billion (as of 7th February 2023). SMFG is one of the global systemically important banks (G-SIBs) and has high credit ratings of A1 by Moody’s Investors Service and A- by Standard & Poor’s. Fullerton Financial Holdings (FFH) FFH is an independently operated strategic and operating investor in financial and related services in emerging markets. FFH creates shareholder value by being committed to building differentiated business models focused on the Mass Market and SME segments, and enabling digital innovation for its portfolio companies. FFH is a wholly-owned independent portfolio company of Singapore-headquartered investment company, Temasek.

Source: BusinessWire

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