CSR DEPARTMENT
Economic benefits of investing in WASH for corporates
A noteworthy fact in the CSR spends of the past 5 years is the growing emphasis on healthcare, WASH and environment sustainability (JICA Report). This bodes well for achieving India’s net zero goals by 2070.
'Zero fatality corridor': Crash deaths down by 58.3% on Mumbai-Pune E-way since 2016, says report
Since the launch of the "zero fatality corridor" initiative for the Mumbai-Pune Expressway (MPEW) in 2016, there has been a marked decline in road crash deaths, stated the report on the project, a joint effort of the Maharashtra State Road Development Corporation (MSRDC), the Maharashtra Highway Police (HSP), the Maharashtra Motor Vehicle Department and the SaveLIFE Foundation.
Assam govt establishes CSR authority and implements paddy procurement reforms
Assam Initiates Corporate Social Responsibility Authority & Paddy Procurement Reforms. Cabinet approves CSR Authority for efficient fund utilization. Guwahati to issue municipal bonds; Rs 100 crore for Assam Tea Corp. Reforms in land settlement, prosecution service, and free rice eligibility criteria under NFSA also greenlit. Partial Decentralized Paddy Procurement planned for smoother operations in Bongaigaon and Biswanath districts during KMS 2023-24.
I-T pegs tax evasion by insurance companies, intermediaries at ₹30,000 cr
The department is in the process of sending tax demand notices to these entities to recover the dues, people aware of the details told ET. The amount could increase once interest and penalties are levied, they said. "We are sending demand notices along with penalty and interest to companies separately and they will get the mandated time to respond to them or contest them," a senior official said.
Finance minister, World Bank to work closely to create market structure from CSR demand side for maximising social impact
The World Bank and the finance ministry of India have agreed to collaborate in creating a market structure for maximising social impact through corporate social responsibility (CSR) initiatives. World Bank President Ajay Banga and Finance Minister Nirmala Sitharaman discussed the outcomes of the G20 India Presidency and the World Bank Group's engagement with India.
SC asks Attorney General to look into suspension of J-K lecturer who argued against abrogation of Article 370
The Supreme Court on Monday asked Attorney General R Venkataramani and Solicitor General Tushar Mehta to look into the issue of the suspension of Jammu and Kashmir education department lecturer who had argued before the top court in a matter related to the abrogation of Article 370.
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For more bang for the CSR buck, change the rules
Any activity with a longer-term perspective takes time to show desired results. However, the CSR mechanism requires companies to report on the allocation and a detailed impact assessment.
ICICI Bank commits ₹1,200 cr to Tata Memorial centre, largest donation made under CSR by any Indian co
The donation is the largest made under corporate social responsibility (CSR) by any Indian firm towards cancer care. TMC will become the referral centres for southern and northern India, providing therapy to almost 25,000 new patients annually equipped with high-end radiology machines and specialised multidisciplinary teams. The bank will allocate almost 50% of its CSR funds to support this initiative in the next three years, likely to be completed by 2027.
ICICI Bank commits Rs 1200 crore to Tata Memorial Centre for cancer care
ICICI will donate the money from its CSR funds to set up three new buildings spanning over a combined area of 7.5 lakh square feet and equip them with high end radiology machines, at TMC’s centres in Navi Mumbai, Maharashtra, Mullanpur in Punjab and Visakhapatnam in Andhra Pradesh.
NTPC signs tripartite agreement for providing critical diagnostic and other equipment under CSR scheme
Tuensang is the largest district of Nagaland and has a 100 bedded District hospital in the area which caters to the patients coming from the remotest corner of the district and also from the nearby districts.
Rajnath Singh to attend ex-servicemen welfare dept event in Delhi on Tuesday
Defence Minister Rajnath Singh is slated to attend an event organised here by the ex-servicemen welfare department on Tuesday, officials said. He will be the chief guest at fourth edition of the Armed Forces Flag Day Corporate Social Responsibility (CSR) Conclave, the defence ministry said in a statement.
AIIMS bans cell phone use by OPD registration counter staff; to add extra buses for internal transport
According to a series of orders issued by the new AIIMS Director Dr M Srinivas on Monday, the administration has also decided to deploy 50 more additional battery-powered buses, besides the existing fleet, via CSR contributions for transporting patients and attendants and other support staff within the institute.
Governments should perform role of a facilitator, not regualtor: Himanta Biswa Sarma
Speaking on the concluding day of Chintan Shivir held at Kaziranga, Sarma said that the Assam government is committed to work as a facilitator to assist all stakeholders to unleash their energies for the development of the state in a time bound manner.
CAG flags data non-sharing between income tax department, MHA to track charitable trusts' foreign receipts
In all the cases, the department had allowed exemption on such foreign contributions involving tax effect of Rs 182.10 crore, said the report tabled in Parliament on Monday. Non-government organisations (NGOs)/ trusts are allowed to receive foreign contributions (FCs) under the Foreign Contribution (Regulation) Act (FCRA). The Home Affairs Ministry monitors the receipts of FC.
Nagaland CM laments that the state hasn't been able to attract companies for CSR obligations
Rio stated that India is the first country in the world to make Corporate Social Responsibility (CSR) mandatory. The policy enables businesses to invest their profits in development activities which is a win-win for everyone, as it allows corporates to participate in the development of the country and an opportunity to expand their markets, and it supplements the government efforts for development through private enterprise and innovation.
'Jail for doing biz' report: DPIIT Secy says bulk of trouble due to labour laws, states need to act
"On studying it with the same group of people (the think tank), we found that almost 70 per cent relate to labour laws and as far as Parliament is concerned, they have enacted four Labour Codes. And they have really simplified those laws," Department for Promotion of Industry and Internal Trade secretary Anurag Jain said, speaking at an event organised by IVCA, a lobby group representing the venture investing industry.
PSUs, private entities not spending 2pc of profit in CSR activities in Assam: Assembly panel
The assembly panel in its report for the Industries Department for 2021-22 suggested that PSUs and private firms with production units outside Assam should spend at least five per cent of their total corporate social responsibility (CSR) funds in the state. The CSR activities undertaken by the companies are mainly concentrated in the nearby areas of their units, while such works were not evenly distributed all over the state, the panel said.
Govt sanctioned prosecution in 366 cases related to CSR norms violations: Nirmala Sitharaman
"Whenever any violation of CSR provisions is reported, action against such non-compliant companies are initiated as per provisions of the Act after due examination of records and following due process of law. All CSR related defaults are compoundable.
Rising regulatory push raises compliance level on public disclosure of ESG strategies: Report
When it comes to ESG strategies, disclosures and performance, around 98 per cent of the 163 domestic companies surveyed regularly publish sustainability reports and 41 per cent of them do that in accordance with the global reporting initiative standards, an analysis of these metrics by global financial markets data and infrastructure supplier Refinitiv, which is a London bourse arm.
RIL spends Rs 1,140 cr on CSR initiatives in FY21
According to the company's latest annual report, Reliance had spent Rs 1,022 crore in 2019-20 on CSR initiatives.
CSR spends on Covid may land companies in a tax tangle
The government recently allowed companies to categorise certain Covid related expenditure as CSR. These include creating health infrastructure for Covid care, manufacturing or supplying of O2 concentrators, ventilators, cylinders or any other medical equipment that’s primarily used for countering the pandemic.
Uttarakhand's coronavirus woes continue
The Uttarakhand government on Sunday imposed a statewide lockdown till May 18 in light of the rapid rise in Covid-19 cases. A total of 5,890 new cases, 180 deaths and 2,731 recoveries were reported in the last 24 hours, the state health department said.
Set up more private centres before vaccination of people in 18-45 age group begins: Centre to states
Ahead of the roll-out of vaccination of people aged between 18 and 45 from May 1, the Centre on Saturday asked states to register additional private vaccination centres and ensure effective crowd management at sites and stressed on inoculation through "only online registration" for beneficiaries in the age bracket.
Beer giant UB appoints former Walmart executive as its Chief of Corporate Affairs
Jha’s last stint was at Walmart India as senior vice president and chief of corporate affairs officer. The former civil servant also has about two decades of experience of working with ministries, departments and regulatory bodies including the Competition Commission of India.
Pollution abatement may lead to higher output for socially-responsible cement firms, find IIT Madras researchers
The Research Team evaluated the financial performance of Indian cement firms while achieving environmental efficiency using factory level data of all Indian states. Their findings demonstrated that Indian cement firms could achieve higher environmental efficiency without compromising their financial performance
Karnataka plans to commission modern skilling institute near airport in 18 months
The government is spending 15 crore for the first phase of the project. The institute will provide residential training in basic skills like masonry, plumbing and carpentry.
Migrant workers slowly returning to cities; locals being trained to fill immediate gap
Since the country has already entered Unlock 2.0, projects that were stalled due to the lockdown have resumed work, though with just half of their capacity as most of the labourers are yet to return.
Hyundai Motor donates Rs 5 crore to Tamil Nadu CM relief fund
Commenting on the initiative, HMIL Managing Director & CEO SS Kim said, "We stand united with the Government of Tamil Nadu to provide relentless support in these challenging times. This contribution is an expression of our solidarity with the people of the state which has been home for Hyundai for over two decades."
Bengaluru gets lion’s share of CSR budgets
About a third of CSR funds (27%) spent between 2014 and 2018 went to Bengaluru and the surrounding areas, as reported officially, while the most backward areas like Yadgir, Haveri and Koppal received less than 1% of funds, according to Sattva’s findings.
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