On Friday, ICICI Bank pledged Rs 1,200 crore to support the expansion of Tata Memorial Centre's (TMC) cancer treatment capabilities.
As part of the pledge by the ICICI Foundation, three additional facilities will be constructed in Mullanpur in Punjab, Visakhapatnam in Andhra Pradesh, and Navi Mumbai's Kharghar on the fringes of the financial capital.
The three facilities will be completely operational by 2027, according to Girish Chandra Chaturvedi, chairman of the second-largest private sector lender, and will allow TMC to treat 25,000 more cancer patients annually.
Following the signing of three Memorandums of Understanding for the center, he told reporters at TMC's flagship hospital here, "This is a step towards fixing an issue that we're anticipating to aggravate, specifically as urbanization increases.
According to Chaturvedi, the bank currently has Rs 500 crore in Corporate Social Responsibility (CSR) funding available for the three facilities, and it will continue to grow over time.
According to the bank, the total CSR corpus would be Rs 2,500 crore by the conclusion of the spending cycle. This indicates that the bank will be investing 50% of its total funds in this relationship, according to Chaturvedi.
He continued by saying that the bank now spends roughly 25% of its CSR budget on healthcare, though this amount may change depending on the demand
