Corporate social responsibility

Tamil Nadu startup launches country's first hybrid reusable rocket

Sets new standards for rapid space missions; the rocket launches three Cube satellites into orbit to study atmospheric conditions

Employment growth in corporate sector declined to 1.5% in FY24: BoB report

Trading witnessed growth in employment even while sales declined

Suzuki Motor unveils Rs 340 crore fund to support social impact startups

Japanese automobile firm Suzuki Motor on Thursday launched its first investment fund in India--Next Bharat Ventures--a Rs 340 crore fund dedicated to fostering impact entrepreneurs who create value in Tier-II and below geographies. This Suzuki initiative aims to support social impact startups in the domains of agriculture, financial inclusion, rural supply chains, and rural mobility, through a residency programme. "Next Bharat will invest in growth-stage impact firms and early-stage impact entrepreneurs through its flagship residency programme. In order to improve synergy among our early-stage portfolio, We do Fund of Fund operations, investing in Indian Early Stage Venture Capital firms, this investment will also help in establishing strong strategic synergies for the Next Bharat Impact Fund," Next Bharat CEO and MD Vipul Nath Jindal told PTI. During the 4-month hybrid residency programme, selected impact entrepreneurs will receive extensive mentorship, access to resources, and ...

Hero MotoCorp's corporate communication head Bharatendu Kabi resigns

Hero MotoCorp on Friday said Head of Corporate Communication & Corporate Social Responsibility Bharatendu Kabi has resigned from the company. In a regulatory filing, Hero MotoCorp CEO Niranjan Gupta said Kabi has decided to step down from his role after nearly two decades of service with the company. "His strategic guidance has been instrumental, especially during critical moments like the separation from our former joint venture partner Honda in 2010-11," he stated. Kabi's contributions have played a significant role in strengthening the company's brand presence, Gupta said. His last day with the company will be July 31, 2024, he added.

Less corporate responsibility? India Inc's CSR spending slowed down in FY23

In FY23, there was only a 5 per cent increase in CSR spending compared to the previous year, due to which, CSR spending as a percentage of net profit fell to a six-year low of 1.87 per cent

Torrent Group's Mehta family pledges Rs 5,000 crore for social causes

The donation, spanning five years, will be directed to the UNM Foundation, focusing on healthcare, education, ecology, and social well-being initiatives

Bajaj group commits Rs 5,000 crore for social impact initiatives in 5 years

Unveils Bajaj Beyond - Group's new identity for all CSR and charitable programmes

Uttar Pradesh govt to tap into CSR funds for development projects

UP's Chief Secretary Durga Shankar Mishra said the state will organise a 'UP CSR Summit' to script a new chapter in the process of collaborative socioeconomic development

Murugappa Group's CSR subsidiary AMM Foundation completes 100 years

Established a century ago, the AMM Hospital, known locally as the 'oru ruba' (one rupee, which is the fee charged from patients) hospital, has been a beacon of quality healthcare for local community

World needs India; Indian biz leading in investments in social causes: UN

The world needs India as the businesses in the country have been leading in terms of investing in social causes, a senior UN official said on Thursday and stressed that business is the key driver that will deliver the sustainable development goals. The United Nations Resident Coordinator in India Shombi Sharp also said that Corporate Social Responsibility (CSR) is indispensable in India's journey, where businesses are at the forefront in the efforts of the country to become a USD 5 trillion economy. "The world needs business and the world needs India and as India leads, the world is following," he said at a conference on CSR in the national capital. He noted that India has been leading the world in CSR, especially with its recent leadership during the COP28 summit. Under the companies law, certain classes of profitable entities are required to shell out at least two per cent of their three-year annual average net profit towards CSR activities in a particular financial year. Beside

Comviva fined Rs 1 lakh for delay in CSR fund transfer to PM Relief

IT company Tech Mahindra Group firm Comviva has been penalised Rs 1 lakh for the delay in transferring unspent corporate social responsibility obligation to the Prime Minister's National Relief Fund, as per a regulatory filing. The Ministry of Corporate Affairs' Regional Director for the Northern Region has ruled against an appeal filed by Comviva against the order of the Registrar of Companies, which imposed a penalty of Rs 1 lakh on the company for the delay. According to the filing, there was an inadvertent delay due to technical reasons in the transfer of the amount unspent in relation to the Corporate Social Responsibility (CSR) obligation for the FY ended March 31, 2021, to the Prime Minister's National Relief Fund within the prescribed period of 6 months of the expiry of the financial year as per the Companies Act, 2013. "Penalty of Rs 1,00,000 has been imposed on Comviva Technologies Limited (Comviva) in connection with the appeal filed by Comviva before Hon'ble Regional ...

RBL Bank launches free mobile healthcare vans for support, domestic workers

Through the initiative, RBL Bank aims to address the healthcare requirements of the underprivileged in an easily accessible way

HDFC Bank rejigs portfolios of top brass; Arvind Kapil to head mortgages

Arvind Kapil to head mortgages; To have two branching heads

Ladwa: Empowering corporate brands to make a difference in road safety

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CSR spend in Northeast anything but generous in FY22, shows data

The concluding part of a three-part series on corporate social responsibility spending looks at regional disparities in allocation

Eye on CSR Part-II: FY22 spend near target, thanks to white knights

The second of a three-part series on corporate social responsibility (CSR) looks at whether companies are meeting spending expectations

Philanthropy by India's super rich falls by a third in FY22, says report

The dramatic fall was because contributions by the Azim Premji Foundation dropped by Rs 9,000 cr

Disallowing input tax credit may increase CSR cost, impact beneficiaries

CSR activities were not treated as a business expenditure

Companies see gain in CSR, want GST on initiatives removed: Report

Legally mandated measure seen helping business in improving labour productivity

Mphasis extends grant to Ashoka University with Rs 18 crore in funds

Makerspace will be a collaborative workspace for making, learning, exploring, and sharing using high-tech to no-tech tools, which will enable the ideation of tech-enabled solution-centric startups