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Barclays intends to maintain charity budget

081114_barclays1.jpgSamir Bhatia, the managing director of Barclays India, is sitting on the floor of a community building in Marol, a slum district of Bombay. In front of him, some women are explaining how their savings and loans scheme works. It is a moment in which worlds collide. Each of the 20 members of the Lakshmi self-help group put aside 50 rupees (67p) a month so that they can borrow money to support their children through school or buy things that they need for their homes. Mr Bhatia controls the Indian operations of an international bank with 42 million customers, a company that in February was ranked the world’s 25th-biggest in the Forbes Global 2000 list. Barclays is joining Unicef, the children’s charity, in Building Young Futures, a three-year international community investment programme offering young people the opportunity to gain financial skills and independence. Mr Bhatia was visiting Marol, one of the most deprived areas of the financial capital of India, before the launch of the partnership today. Image source: UNICEF/2008/Vidya Kulkarni / uk > Continue.

News selected by Covalence | Country: Global | Company: Barclays | Source: The Times

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