 "What is Corporate social responsibility (CSR)?")
CSR
What is Corporate social responsibility (CSR)?
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Latest Updates on CSR
Coal India's CSR spend exceeds Rs 5,570 crore over the past decade
Coal Secretary Vikram Dev Dutt commended coal companies for their impactful CSR projects over the past decade, which, he said, have positively impacted coal-bearing regions
 "Coal India's CSR spend exceeds Rs 5,570 crore over the past decade")
Mizoram govt to get rid of non-performing employees: CM Lalduhoma
Mizoram CM Lalduhoma said that his government is taking steps to ensure that all projects are executed properly and effectively
 "Mizoram govt to get rid of non-performing employees: CM Lalduhoma")
Unspent CSR funds hit five-year high of Rs 1,475 crore in FY23, shows data
On average, each company spent only Rs 11.29 crore
 "Unspent CSR funds hit five-year high of Rs 1,475 crore in FY23, shows data")
Aim for carbon neutrality in scope 1, 2 emissions by FY32: ICICI Bank
In its ESG report 2023-24, ICICI Bank says it has allocated Rs 5.19 billion for corporate social responsibility (CSR) activities in financial year 2024, up from Rs 4.63 billion the previous year
 "Aim for carbon neutrality in scope 1, 2 emissions by FY32: ICICI Bank")
Centre sets up team to implement internship scheme announced in Budget
The Union Ministry of Corporate Affairs is holding discussions with corporate HR leaders in Delhi and Mumbai to finalise the contours of the scheme
 "Centre sets up team to implement internship scheme announced in Budget")
Education made up 33% of firms' CSR spend in FY23, shows govt data
Reliance topped social spending from FY19 to FY22
 "Education made up 33% of firms' CSR spend in FY23, shows govt data")
'Internship scheme a complicated solution to a complicated issue': Fin secy
At 'Budget with BS: The Fine Print,' Finance Secretary TV Somanathan said companies costs for interns will be funded through their CSR budgets
 "'Internship scheme a complicated solution to a complicated issue': Fin secy")
Tax tribunal rulings open doors to more firms claiming CSR deductions
Orders expected to settle matter but chances of the authorities questioning such deductions not ruled out, say tax experts
 "Tax tribunal rulings open doors to more firms claiming CSR deductions")
Infosys Foundation, ICT Academy join hands to skill 48,000 students
The students will be trained in IT, banking, financial services and insurance, retail, e-commerce, logistics, knowledge process outsourcing, and soft skills
 "Infosys Foundation, ICT Academy join hands to skill 48,000 students")
Tax tribunals in Delhi and Mumbai allow deductions for CSR donation
Tax authorities had earlier argued that since CSR expenditures were mandated by law, they were not voluntary and therefore, did not qualify as donations for tax deductions
 "Tax tribunals in Delhi and Mumbai allow deductions for CSR donation")
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
Govt permits planting of trees on degraded land parcels for credits
India is yet to have a domestic carbon/green credit marketplace with the regulations for it under consideration. There are however independent agencies running such platforms
 "Govt permits planting of trees on degraded land parcels for credits")
Mercedes-Benz Research and Development India launches Sustainability Garage
A CSR initiative of MBRDI, the Sustainability Garage will serve as a hub for multidisciplinary research, focusing on developing eco-friendly materials with diverse applications to benefit society
 "Mercedes-Benz Research and Development India launches Sustainability Garage")
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
 "Uttar Pradesh govt to tap into CSR funds for development projects")
Working with 5.5 million people under CSR initiative, says HCL Foundation
Nidhi Pundhir, Vice President, Global CSR, HCLTech, and Director, of HCL Foundation, said, "We have contributed significantly during emergencies such as the Michaung cyclone, and cold wave in Delhi
 "Working with 5.5 million people under CSR initiative, says HCL Foundation")
E-carts to give free rides to devotees visiting Ayodhya's Ram temple
The e-carts or golf carts will offer free rides to the elderly, divyangjans, and pregnant women while the fare for others will be announced soon
 "E-carts to give free rides to devotees visiting Ayodhya's Ram temple")
World needs India; Indian biz leading in investments in social causes: UN
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
 "World needs India; Indian biz leading in investments in social causes: UN")
Over 7,700 cos voluntarily exited biz since setting up C-PACE: Govt
In a separate written reply, Singh said the CSR-related disclosures are filed by the companies in the MCA 21 portal
 "Over 7,700 cos voluntarily exited biz since setting up C-PACE: Govt")
Rajnath Singh urges corporate sector to focus on voluntary contributions
Commending the socially conscious people, especially the corporates, for their contributions, he termed it as a responsibility of the country to recognise these individuals
 "Rajnath Singh urges corporate sector to focus on voluntary contributions")
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
 "RBL Bank launches free mobile healthcare vans for support, domestic workers")
