CSR Spending

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

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

Overall CSR allocations appear to have taken a hit during the pandemic even as they became skewed towards certain sectors

The Parliamentary Standing Committee on Finance expressed concerns over the monitoring mechanism in ensuring compliance with the provisions of CSR

Engineering conglomerate Larsen and Toubro (L&T) spent Rs 150 crore in FY'21 on corporate social responsibility activities, impacting 1.21 million beneficiaries. The beginning of the current year was noteworthy for L&T's efforts in corporate social responsibility (CSR) as the company's CSR team handed over two Integrated Community Development Projects (ICDPs) to the Tamil Nadu government's agriculture department at Kalangal village in Sulur block, an area that till recently was one of the most water-scarce places in the state. "With a CSR spend of Rs 1.5 billion in FY'21, 108 partners and several thousand suppliers and contractors, L&T's social initiatives have touched 1.21 million beneficiaries," the company said. The company said in building India's social infrastructure, the aim is to improve the quality of life, mitigate social inequalities, build self-sufficiency and help individuals achieve their true potential. The CSR team's various interventions in water and ...

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

The CII on Monday asked the government to consider increasing the CSR levy by 1% for a year, and use the money to give boosters shots. But is India Inc loosening its purse strings for social causes?

Is India Inc meeting its CSR commitment? What should the govt do to address inequality? What is Vaibhav Sanghavi's take on the upcoming Budget? What are Surcharge and Cess? Find all answers here

Corporate Social Responsibility spending under the companies law should not be interpreted as a source of financing the resource gaps in government schemes, the Ministry of Corporate Affairs has said as it issued a detailed set of FAQs for the effective implementation of CSR norms. Activities undertaken by companies as part of the normal course of business is not considered CSR work. However, the ministry has provided an exemption for companies engaged in R&D activities for new vaccines, drugs and medical devices in their normal course of business with respect to COVID. The exemption would be in place for three financial years till FY 2022-23, as per the FAQs (Frequently Asked Questions) dated August 25. "This exclusion is allowed only in case the companies are engaged in R&D in collaboration with organisations as mentioned in item (ix) of Schedule VII and disclose the same in their board reports," the ministry said. The organisations are specified under item ix of Schedule ...

Majority of money spent in last three years; In Covid-dominated FY21, the amount is likely to have crossed Rs 22,000 cr

HDFC Bank spent Rs 634.91 crore towards #Parivartan, the umbrella programme for all Corporate Social Responsibility initiatives, in FY 2020-21. Out of Rs 634.9 crore, over Rs 110 crore was allocated and utilised towards initiatives focused on Covid-19 relief.Further, the bank's #Parivartan has cumulatively impacted over 8.5 crore lives across India.#Parivartan focuses on following identified areas:Rural DevelopmentPromote EducationSkill Training and Livelihood EnhancementHealthcare & HygieneFinancial Literacy and InclusionKey Sustainability highlights:With outgo of Rs 634.91 crore in the last financial year, the Bank is one of the largest contributors of CSR in the country.Holistic Rural Development Programme (HRDP) in 1,970 villages in 21 states.Under 'Teaching the Teachers (3T) initiative, in association with NGO partners, the bank has trained over 19.67 lakh teachers benefitting over 2.07 crore students.#Parivartan has touched lives of 1.29 crore households in 28 states ...

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If such capital expenditure was incurred as part of CSR in the past, the assets need to be transferred within six months.

Talks with key executives in listed firms reveal diversion from existing plans such as supporting cancer hospitals, towards giving all the money under their budget to help deal with pandemic

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

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The corporate affairs ministry, which is implementing the companies law, has issued a memorandum clarifying that money donated by corporates to the fund would be considered as CSR expenditure