Page 2 - Latest Updates on CSR
Companies plan to increase CSR funding towards skill, education: Survey
A significant percentage of companies in India plan to increase their corporate social responsibility funding towards skilling and education in 2022, says a TeamLease EdTech survey.
 "Companies plan to increase CSR funding towards skill, education: Survey")
Companies spent Rs 1.09 trn towards CSR activities in 7 years: MCA
Under the Companies Act, 2013, certain class of profitable entities are required to spend at least 2 per cent of their three-year annual average net profit towards Corporate Social Responsibility
 "Companies spent Rs 1.09 trn towards CSR activities in 7 years: MCA")
RBL Bank raises Rs 5.20-cr fund via CSR initiative for inclusive education
RBL Bank on Monday said it had raised Rs 5.20 crore through a corporate social responsibility initiative focused on cycling in a bid to support education of underprivileged and special-needs children
 "RBL Bank raises Rs 5.20-cr fund via CSR initiative for inclusive education")
Reliance Industries spends Rs 922 cr to top CSR expenditure chart in FY21
India Inc's overall spends dip 64%; TCS and Wipro take second and third spots, respectively
 "Reliance Industries spends Rs 922 cr to top CSR expenditure chart in FY21")
TCS aims to skill youth impacted by Covid-19 pandemic via CSR programme
TCS has included special programs that focus on training the youth in quantitative aptitude, business communication skills, programming and domain skills
 "TCS aims to skill youth impacted by Covid-19 pandemic via CSR programme")
Expense on R&D for Covid-19 drugs, vax, devices will count as CSR
The CSR FAQs provide details of what would qualify as administrative overheads
 "Expense on R&D for Covid-19 drugs, vax, devices will count as CSR")
India Inc's CSR spends over 1 trillion since mandatory law in FY15: Crisil
Majority of money spent in last three years; In Covid-dominated FY21, the amount is likely to have crossed Rs 22,000 cr
 "India Inc's CSR spends over 1 trillion since mandatory law in FY15: Crisil")
Samsung partners NSDC to train 50,000 youth for electronics retail sector
Samsung India has partnered with the National Skill Development Corporation under a CSR initiative, aiming to train 50,000 young persons as job-ready for the electronics retail sector
 "Samsung partners NSDC to train 50,000 youth for electronics retail sector")
HDFC Bank spends Rs 635 cr, towards CSR including Covid relief in FY21
HDFC Bank spent Rs 634.91 crore towards #Parivartan, the umbrella programme for all Corporate Social Responsibility initiatives, in FY 2020-21
 "HDFC Bank spends Rs 635 cr, towards CSR including Covid relief in FY21")
India Inc fares well on environmental, social and governance disclosures
Parameters where India scored high included policy on equal voting rights (100 per cent), policy on community involvement (99 per cent), and CSR sustainability reporting (98 per cent)
 "India Inc fares well on environmental, social and governance disclosures")
CSR in times of a pandemic
The basic conceptual problem with this UPA-era law that the NDA has embraced with gusto can be seen in the toilet-building frenzy that gripped India Inc in 2017-18
CSR funds not used to run government schemes, says Anurag Thakur
Thakur on Monday said the government does not use the Corporate Social Responsibility (CSR) funds to run its schemes
 "CSR funds not used to run government schemes, says Anurag Thakur")
Govt should earmark 10% of CSR for skill development: L&T's A M Naik
Large industries do not have to collaborate with NSDC or government organisations because they have created training centres, says Naik
 "Govt should earmark 10% of CSR for skill development: L&T's A M Naik")
Use CSR funds to set up charging stations in Delhi: Gahlot to corporates
Gahlot on Sunday appealed to corporate organisations to adopt electric vehicles in their fleets
 "Use CSR funds to set up charging stations in Delhi: Gahlot to corporates")
CSR shouldn't be legally mandated, charity must come from within: Premji
He added that it is important that individual and personal philanthropy is separated from a company's CSR efforts
 "CSR shouldn't be legally mandated, charity must come from within: Premji")
Non-Financial disclosures to dig deep into sustainable corporate practices
Experts have called some of these steps "pathbreaking" towards improving transparency in non-financial reporting which under new norms will become as exhaustive as financial reporting
 "Non-Financial disclosures to dig deep into sustainable corporate practices")
Indian-American non-profit Sewa International raised $8.3 mn in 2019
Sewa International, a top Indian-American non-profit organisation, raised USD 8.3 million in 2019 and spent only 2% of it in administrative expenses, using the rest for relief and social welfare work
 "Indian-American non-profit Sewa International raised $8.3 mn in 2019")
Rajasthan seeks CSR benefits for CM relief fund: SC asks govt to respond
The state government said that the Centre's circular has excluded CMRF from the purview and ambit of Corporate Social Responsibility (CSR) activities, prescribed by the Act
 "Rajasthan seeks CSR benefits for CM relief fund: SC asks govt to respond")
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")
Weaker and poorer, NGOs still the best bet in delivering Covid-19 relief
More CSR money has flown to govt schemes and corporate trusts rather than to NGOs
 "Weaker and poorer, NGOs still the best bet in delivering Covid-19 relief")