Page 6 - Corporate Social Responsibility

Letter to BS: Jail term for CSR law violation is a retrograde step

According to a study by KPMG India, the expenditure on CSR by India's largest 100 firms stood at Rs 7,536. Rs 30 crore in the financial year ending 2018

An unnecessary law

Jail term for CSR law violation is a retrograde step

India Inc worried over three-year jail provision for violation of CSR norms

According to new CSR norms, a company has to earmark a part of its profit towards social activities and transfer all unspent amount into an escrow account (if it is an ongoing project)

Bill to fine firms over corporate social responsibility tabled in Lok Sabha

The Bill also seeks to empower the Centre to debar directors responsible for mismanagement for five years after approval from NCLT

17% of corporate social responsibility fund unspent among listed companies

The government is considering the option to punish directors of companies that do not spend the required amount in CSR activities, as mandated by law

Making CSR count

As spending rises, focus must shift to gauging its impact on the ground

Inheritance tax ensures large endowments for Western institutions: Jaitley

India too had this tax, but it was abolished by the Rajiv Gandhi government in 1985

CSR funds worth Rs 83.14 bn remained unspent over three financial years

In 2016-17, the prescribed amount was Rs 157 billion, while Rs 22.38 billion remained unspent

Unspent component of CSR funds rises to Rs 17.17 billion in FY18: Report

Only half of the 1,708 companies listed on NSE have a CSR committee in place despite the CSR Act mandating the same

Problematic mandate

Flaws inherent in the CSR law becoming apparent

How companies can make a more visible impact through CSR

Identifying causes that have strategic linkages with their businesses will be key to success

Centre does not favour micro management of CSR initiatives: Piyush Goyal

Action is taken against non-compliant companies after due examination of records

Corporate altruism can do better

Compliance is improving, but sustaining it will take a couple of tweaks

ICICI - A Bank that Goes Beyond Banking

"We know only too well that what we are doing is nothing more than a drop in the ocean. But if the drop were not there, the ocean would be missing something." - Mother Teresa

Companies get socially more responsible, CSR spend up 47%: Report

On a yearly basis, the actual CSR spend of the entities rose 8.34% in 2016-17