Page 2 - Corporate Social Responsibility

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

HCL Foundation CSR spending up 10.76% to Rs 216 crore in FY22

HCL Foundation, a CSR arm of HCL Technologies Ltd, on Thursday said it spent Rs 216 crore during the 2021-22 fiscal on several initiatives across urban and rural development besides environmental action, up by 10.76 per cent from over the year. About Rs 195 crore was the CSR investment made during the 2020-21 financial year. "HCL Foundation and its partners worked tirelessly with communities to multiply our programme reach by over 12 times since 2016. Our projects are aligned with the UN Sustainable Development Goals... We remain committed to the long road ahead," said HCL Technologies CEO and Managing Director C Vijayakumar. Since 2016, the Foundation has spent Rs 900 crore on CSR programmes that span healthcare, sanitation, poverty eradication, education, skilling and livelihoods, environment and disaster risk reduction, the Foundation said in a statement. Speaking to PTI, HCL Foundation Vice President and Director Nidhi Pundhir said CSR programmes were implemented during the ...

Govt looks to ease compliance burden with new CSR disclosure rules

The new rules have also revised the amount to be spent on impact assessment of CSR projects to 2 per cent of total CSR obligation or Rs 5 million, whichever is higher

Companies can omit important information under new CSR disclosure rules

New rules let companies omit details like title, location, and duration of the business's CSR project, budget allotted for it, the amount spent on it during the current fiscal year among others

NMDC institutes in Chhattisgarh's Dantewada district send youths to MNCs

Besides mining, the company has pioneered development initiatives and steered changes in improving the quality of education in remote areas as part of its corporate social responsibility (CSR).