CSR Norms

Most of the CSR fund, which should ideally be spent for the benefit of the society, remains unutilised and is redirected to other government funds, Union Minister of State for Corporate Affairs Harsh Malhotra here said. According to Malhotra, who is also the Minister of State for Road Transport and Highways, the government mandates companies to spend 2 per cent of their annual profit on social causes and welfare. He made the remarks addressing the Healthcare CSR ChangeMakers Summit and Awards 2024, organised by HEAL Foundation. "Most CSR funds remain unutilised and are redirected to other government funds. CSR funds are allocated across 12 categories including education, health and Art and Literature. Proper utilisation of CSR funds could significantly benefit the society," the minister said, according to a statement by the NGO. He also praised HEAL Foundation's CSR initiatives in health and its support to marginalised athletes who won medals at international level. He highlighted

Officials said that the nitty gritty of the scheme will be prepared by the Ministry after the consultation process is over

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

Set up with an approximate project Cost of Rs 7,000 crore, the unit does not require any additional land or water allocation. The plant is receiving water from the Hasdeo River

Allowing social stock exchanges to facilitate CSR funding of projects could catalyse change by improving outcomes

Ports in India will need allocate a specific percentage of their annual turnover for their corporate social responsibility projects

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

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

CSR rules are applicable to companies with a net profit of over Rs 5 crore or networth of over Rs 500 crore or turnover of Rs 1,000 crore

Govt had in February this year asked India Inc to furnish a report on their corporate social responsibility (CSR) activities. From being a voluntary exercise, it has been made mandatory by the govt

In 2019-20 financial year, the CSR expenditure stood at Rs 24,864 crore; As per data available on the portal, the total CSR spending in the last two financial years is more than Rs 45,200 crore

The industry lobby group also said the Budget expected to focus on ways to strengthen economic recovery

The government on Friday amended various rules pertaining to the CSR regime

An SSE is a platform that allows NGOs and voluntary non-profit organisations to raise capital for social purposes

The government has amended the corporate social responsibility rules under the companies law that is likely to help boost funding for developing new vaccines, drugs and medical devices related to the coronavirus pandemic. With the latest amendments, companies engaged in research and development (R&D) activity of new vaccine, drugs and medical devices in their normal course of business have been allowed to undertake R&D activity of new vaccine, drugs and medical devices related to COVID-19 under the CSR ambit. This would be applicable for three financial years -- 2020-21, 2021-22 and 2022-23 -- subject to certain conditions. This means that money spent on such activities would be considered as Corporate Social Responsibility (CSR) spending under the Companies Act, 2013. Under the Act, certain categories of profitable companies are required to shell out at least 2 per cent of their three-year annual average net profit towards CSR activities in a particular financial year. The ...

Finance Minister Nirmala Sitharaman had tweeted on March 29 that CSR Funds can now donate to PM CARES Fund

The proposed rules would not allow trusts and societies to undertake any CSR activities.

As many as 23 offences would be recategorised out of 66 compoundable offences under the Act

CSR-related disclosures need to be made in the annual report in the format prescribed by the Act

From criminal offences in the Companies Act being slated to be slashed to banks possibly taking a majority stake in DHFL, here are the top business headlines for Monday