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Csr Norms

Most CSR funds redirected, ensure efficient use: Minister Malhotra

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

Most CSR funds redirected, ensure efficient use: Minister Malhotra
Updated On : 07 Sep 2024 | 3:59 PM IST

Internship scheme for youth: Govt starts discussions with industry

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

Internship scheme for youth: Govt starts discussions with industry
Updated On : 06 Aug 2024 | 11:40 PM IST

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

Bajaj group commits Rs 5,000 crore for social impact initiatives in 5 years
Updated On : 22 Mar 2024 | 10:40 PM IST

NTPC seeks public nod for Sipat project expansion in Chhattisgarh

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

NTPC seeks public nod for Sipat project expansion in Chhattisgarh
Updated On : 15 Dec 2023 | 5:04 PM IST

Connecting CSR and social stock exchange

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

Connecting CSR and social stock exchange
Updated On : 30 Aug 2023 | 10:13 PM IST

Sagar Samajik Sahayog: New CSR guidelines for ports in India unveiled

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

Sagar Samajik Sahayog: New CSR guidelines for ports in India unveiled
Updated On : 27 Jun 2023 | 7:54 PM IST

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

Govt looks to ease compliance burden with new CSR disclosure rules
Updated On : 07 Oct 2022 | 7:17 PM IST

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

Companies can omit important information under new CSR disclosure rules
Updated On : 07 Oct 2022 | 10:06 AM IST

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

CSR exemption for firms making losses; eligibility to be checked every year
Updated On : 23 Sep 2022 | 12:10 AM IST

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

What is corporate social responsibility?
Updated On : 11 Mar 2022 | 8:45 AM IST

New CSR disclosure framework to enhance transparency: Govt official

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

New CSR disclosure framework to enhance transparency: Govt official
Updated On : 20 Feb 2022 | 3:32 PM IST

Budget 2022-23: CII seeks additional 1% CSR for Covid-19 boosters

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

Budget 2022-23: CII seeks additional 1% CSR for Covid-19 boosters
Updated On : 24 Jan 2022 | 12:34 AM IST

Govt amends CSR rules; allows cos to undertake multi-year projects

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

Govt amends CSR rules; allows cos to undertake multi-year projects
Updated On : 22 Jan 2021 | 8:03 PM IST

Govt's social stock exchanges proposal may face disclosure roadblock

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

Govt's social stock exchanges proposal may face disclosure roadblock
Updated On : 08 Oct 2020 | 9:24 AM IST

Govt amends CSR norms; likely to help boost funds for Covid vaccines, drugs

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 ...

Govt amends CSR norms; likely to help boost funds for Covid vaccines, drugs
Updated On : 25 Aug 2020 | 8:21 PM IST

Donations by companies to PM-CARES Fund notified as CSR, says govt

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

Donations by companies to PM-CARES Fund notified as CSR, says govt
Updated On : 27 May 2020 | 7:05 PM IST

New draft rules set to clamp down on CSR activities through trusts

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

New draft rules set to clamp down on CSR activities through trusts
Updated On : 17 Mar 2020 | 1:50 AM IST

Govt approves 72 amendments to Companies Act to decriminalise offences: FM

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

Govt approves 72 amendments to Companies Act to decriminalise offences: FM
Updated On : 04 Mar 2020 | 4:12 PM IST

More firms in India complying with CSR norms under Companies Act: Report

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

More firms in India complying with CSR norms under Companies Act: Report
Updated On : 17 Feb 2020 | 12:00 AM IST

Top 10 biz headlines: India Inc gets legal relief, OYO's coffee plan & more

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

Top 10 biz headlines: India Inc gets legal relief, OYO's coffee plan & more
Updated On : 16 Jan 2020 | 8:55 PM IST