Head of SBI Foundation’s executive committee and SBI managing director (International Banking, Global Markets and Technology) Challa Srinivasulu Setty handing over a cheque for ₹4.50 crore to ICAR-IIRR officials in Hyderabad.
State Bank of India’s CSR wing, SBI Foundation, has entered into an MoU with the Indian Council of Agriculture Research–Indian Institute of Rice Research (ICAR-IIRR), Hyderabad, to promote direct seeded rice (DSR).
Direct seeding is a crop establishment system, wherein rice seeds are sown directly onto the field as opposed to the traditional method of growing seedlings in a nursery then transplanting into flooded fields.
On the occasion of the MoU signing here, a cheque for ₹4.50 crore was handed over by head of the foundation’s executive committee and SBI managing director (International Banking, Global Markets and Technology) Challa Srinivasulu Setty to the institute officials, the bank said on Wednesday.
SBI Foundation believes in reflecting the ethos of the State Bank Group in running ethical interventions, promoting growth and equality and positively impacting society, Mr. Srinivasulu said.
ICAR-IIRR director Raman Meenakshi Sundaram said the DSR is rapidly gaining popularity among farming communities, particularly in Andhra Pradesh, Telangana, Punjab and Haryana. He thanked SBI Foundation for the support for promotion of DSR in Telangana and across the country.
CGM of SBI Hyderabad circle Rajesh Kumar said the shift from transplanted rice to the DSR will result in multiple savings, including irrigation water, as well as reduce cost of cultivation and crop duration.
SBI managing director (International Banking, Global Markets and Technology) Challa Srinivasulu Setty handing over the keys of a vehicle donated to representatives of NGO Manchikalalu in Hyderabad.
In another CSR activity, at SBI Local Head Office here, Mr. Srinivasulu handed over the key of a minibus donated to Manchikalalu, a home for children located in Marredpally, Secunderabad. Founder-president of the NGO Sarath Kumar Puppala received the key. Both Mr. Srinivasulu and Mr. Mr. Kumar lauded the work done by the NGO.