Page 2 - Corporate Social Responsibility

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).

CSR exemption for firms making losses; eligibility to be checked every year

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 seeks to improve disclosures by PSUs, asks for monthly data on capex

New details such as CSR, gender-wise reporting of contractual workers, unused land, and profit share in joint venture companies have also been added in the list of disclosures

Monsoon session: 60% CSR spent on rural needs, health care, education

Around 60 per cent of the total CSR funds spent by companies in the last seven financial years were in the areas of education, healthcare and rural development-related activities, according to the government. In a written reply to the Lok Sabha, the corporate affairs ministry also informed that during the given period, around 33 per cent of the total CSR amount spent by companies were in Maharashtra, Karnataka, Gujarat, Andhra Pradesh and Tamil Nadu. Under the Companies Act, 2013, a certain class of profitable companies are required to shell out at least two per cent of their three-year annual average net profit towards CSR (Corporate Social Responsibility) activities in a particular fiscal. CSR is a board-driven process and the board of a company is empowered to plan, decide, execute and monitor CSR activities of the company based on the recommendation of its CSR Committee. Minister of State for Corporate Affairs Rao Inderjit Singh said in the written reply that the government doe

Businesses should contribute to country's all-round development: Kovind

The remarks of the President came while addressing the 90th year celebrations of the Merchants Chamber of Uttar Pradesh at Kanpur

Reliance spends Rs 1,185 cr on corporate social responsibility in FY22

Reliance Industries Ltd spent a record Rs 1,184.93 crore in fiscal year ended March 31 on corporate social responsibility (CSR) initiatives

Reliance Industries contributes Rs 1,185 cr towards CSR initiatives in FY22

The CSR initiatives were spearheaded by Reliance Foundation, the philanthropic arm of Reliance Industries, led by Founder and Chairperson of the foundation Nita M. Ambani

IIT Madras raises all-time high sum of Rs 131 cr from alumni, firms in FY22

Number of firms donating to IIT Madras via CSR route has almost doubled in past five years; account for nearly half the total Rs 131 crore raised last financial year.

4-5% of Rs 1.25 trn spent on CSR funds in past 7 yrs went to PM Cares: Govt

Singh said it is a broad-based activity that the Board undertakes and we give general guidelines and the Board implements it

What is corporate social responsibility?

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

CSR spending on the rise but not equitable, skewed towards three sectors

Six states account for a third of total CSR spending; three sectors account for 59.9 per cent of funding.

Onerous disclosures

New CSR reporting requirements raise tricky issues