Chennai, 26th May 2023: Federal Bank announced the names of 310 applicants from across the country who will receive Federal Bank Hormis Memorial Foundation scholarship for pursuing higher studies. Initiated in memory of the founder of Federal Bank, Shri K P Hormis, the scholarship aims to financially support meritorious students from weaker social economic backgrounds, enabling them to pursue professional educational courses.
As part of its flagship CSR programme, applicants chosen are for the academic year 2022-23. The programme seeks to provide an opportunity for the emerging talent. Students belonging to the states of Gujarat, Kerala, Karnataka, Maharashtra, Punjab and Tamil Nadu pursuing first year of MBBS, BE/Btech, B Sc. Nursing, MBA & Agriculture (BSc) including BSc (Hons) Cooperation & Banking with Agricultural Sciences conducted by Agriculture Universities had applied for this scholarship.
Launched in 1996, the Trust is striving hard to support the community in which it operates through various training programs, seminars, infrastructure development and so on. Each year, Federal Bank Hormis Memorial Foundation aims to inspire children to explore their passion among many other CSR initiatives. The names of the winners is announced on https://www.federalbank.co.in/corporate-social-responsibility
Federal Bank (NSE: FEDERALBNK) is a leading Indian private sector bank with a network of around 1,372 banking outlets and 1,914 ATMs/Recyclers spread across the country. The Bank’s total business mix (deposits + advances) stood at ₹ 3.87 Lakh Crore as on 31st March, 2023. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.81% as on 31st March 2023. Federal Bank has Representative Offices in Dubai and Abu Dhabi that serve as a nerve centre for Non-Resident Indian customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well-defined vision for the future as a guidepost to its progress.