CSR News

This notification shall be deemed to have come into force on 28, March, 2020.

Compulsory CSR also flies in the face of Make in India programme.

The Mumbai Police will now be able to accept donations from corporates. As per a government resolution (GR) issued by the Maharashtra government on Tuesday, the Mumbai Police can accept donations from all private firms.

Finance Minister Arun Jaitley also exhorted companies to take up challenging areas for spending their CSR fund.

Corporate India's social responsibility graph is headed up with 47 percent jump in CSR spend since it became mandatory, with 300 BSE listed companies spending Rs 6,871 crore on this front in 2016-17, says a report.

For the first time, the NDA government is planning to conduct a study for assessing the impact of corporate social responsibility projects undertaken by various public sector firms.

Overall CSR spends by corporates saw a significant 22 percent rise in 2015-16, with bulk of the money going into education, skills development, healthcare and sanitation initiatives, a research report said.

Government is amending the form for furnishing annual financial statements under the companies law as part of efforts to ensure that CSR spending figures are reported in a proper manner.

A co-ordination committee has been formed as part of the measure aimed at filling the funding gap in the sector and improving quality of education.

Majority of corporates expect to spend more on social welfare activities in the next financial year as CSR increasingly becomes part of strategic decision making process, says a survey.

Over 1,000 BSE-listed companies together shelled out Rs 6,400 crore towards CSR activities last fiscal, with funds going to education, health and other areas, says a report.

Bollywood superstar Aamir Khan, who is Unicef Ambassador for South Asia, has applauded its decision to associate with the International Cricket Council (ICC), the global governing body of cricket.

Collectively, the 30 Sensex companies are estimated to have spent about Rs 3,500 crore on CSR initiatives during the 2014-15 fiscal, when they were required to spend nearly Rs 5,000 crore on such activities under the new Companies Act.

Interestingly, nearly two-third of the top listed firms have failed to make the minimum 2 per cent CSR spend in the first year (2014-15 fiscal).

The nation's largest lender State Bank of India (SBI) has created a separate company, SBI Foundation, to carry out its massive CSR initiatives and hopes to get it "running" from July.

Reporting of CSR activities on environment and governance issues is not being taken as seriously as it should be, a study backed by the country's largest software exporter TCS said on Friday.

Institute of Company Secretaries of India (ICSI) is for introduction of audit of Corporate Social Responsibility (CSR) activity.

IICA had been entrusted to provide secretarial and technical support to the committee headed by former union home secretary Anil Baijal.