As part of its corporate social responsibility (CSR) initiative, HDFC Ltd has committed an initial amount of Rs 40 crore this year for COVID-19 support and pledged to increase this commitment over the next two quarters based on need.
The COVID-19 initiatives are being undertaken through its philanthropic arm the HT Parekh Foundation, HDFC Ltd said in a statement.
Through partnerships with government and charitable hospitals, HDFC has planned healthcare initiatives to support long-term health infrastructure across India, it said.
The support includes direct procurement and distribution of 80 high-quality ICU ventilators, to support critical patients in hospitals across Karnataka, Gujarat, Maharashtra and Tamil Nadu. It will also set up at least 10 oxygen enrichment plants to meet medical oxygen demands.
It is critical to strike a balance to address the immediate needs for healthcare, longer-term needs for supporting livelihoods, and building a more resilient health infrastructure in the country, HDFC Chairman Deepak Parekh said.
'Besides our healthcare investments, we are providing humanitarian support to the most vulnerable groups, including children, migrants, senior citizens, critically ill patients and persons with disabilities, to ensure that they are protected.
'We stand committed to our country and the hope for a positive future,' he added.