Axis Bank: Calibrating CSR Initiatives for Sustainable Future

Axis Bank was the fifth-largest bank in India, one of the world’s fastest-growing economies. In 2006, the bank set up a trust, Axis Bank Foundation, to manage its corporate social responsibility (CSR) initiatives. In Phase 1 of its CSR journey, it had followed three of the Millennium Development Goals of the United Nations and achieved the mission of “generating one million livelihoods in a sustainable manner,” ahead of schedule. Encouraged by the success of Phase 1, Axis Bank planned to include three additional Sustainable Development Goals to guide Phase 2 with the mission of “generating livelihoods in a sustainable manner for two million households.” Rajesh Dahiya, who oversaw Axis Bank’s CSR initiatives, was faced with several key decisions for framing the CSR strategy for Phase 2 based on an evaluation of the performance in Phase 1 and the lessons learned in that phase.