History and Strategy
With rapid growth of its business in the mid 2000s, the senior management of Axis Bank (then UTI Bank) felt a compelling need to extend the business beyond banking and give back to the community. In 2004, we started this process by supporting Lifeline Foundation which provides emergency medical care for highway accident victims.
In 2006, a public trust was formed and registered to align and implement the CSR work with 1% of Axis Bank's profit. Its initial focus was on supporting programmes dealing with various aspects of Education for the underprivileged.
In 2010, the foundation decided to streamline all programmes under the broader goal of providing 'Sustainable Livelihood' to the socio-economically weaker and underprivileged sections of the society. ABF has added 24 new partnerships under Livelihood Programme to improve livelihood opportunities, strengthen people's sources of income, create market linkages and reduce migration. The education portfolio now focuses on providing education and skills with the aim of enabling the unemployed youth, marginalized children and differently abled adults lead economically independent lives.