The Evolution of Corporate Social Responsibility (CSR) in India in the last few years has moved with great speed from the margins to the boardrooms of India Inc. In 2010, Department of Public Enterprises release the DPE Guidelines for the Public Sector Enterprises, then in 2012, SEBI mandate on disclosure in the form of Business Responsibility Reports (BRRs) on NVGs for top 100 listed companies. These were the initial steps towards acknowledging the concept of Business Responsibilities in India.
The general understanding on Corporate Social Responsibility (CSR), till sometime back, was deeply rooted in the concept of philanthropy. However, the emerging concept to CSR is focusing on going beyond charity. Across the globe companies are increasingly recognizing the strategic importance of building business practices that result in sustainable bottom lines, sustainable economies, environments and societies.
The Evolution of Corporate Social Responsibility (CSR) in India in the last few years has moved with great speed from the margins to the boardrooms of India Inc. In 2010, Department of Public Enterprises release the DPE Guidelines for the Public Sector Enterprises, then in 2012, SEBI mandate on disclosure in the form of Business Responsibility Reports (BRRs) on NVGs for top 100 listed companies. These were the initial steps towards acknowledging the concept of Business Responsibilities in India.
On 29th August 2013, The Companies Act 2013 replaced the Companies Act of 1956. The New Act has made far-reaching changes affecting company formation, administration and governance, and incorporates an additional section i.e. Section 135 - which lays down certain requirements, expected of companies, pertaining to the execution, fund allotment and reporting on CSR. One of the Act’s most prominent feature is the compulsory corporate social responsibility obligations ("CSR") upon Indian companies and foreign companies listed in India. These obligations mainly come in the form of mandatory amounts companies must contribute to remediating social problems. Ministry of Corporate Affairs notified Section135 and Schedule VII came into effect from 1st April 2014.
Team Leader
Uma S Seth
Assistant Secretary General
Timeline
2024
Aug
Event
Call For Applications: FICCI Women Empowerment Awards
Ministry of Education in discussions with state governments to identify vocation education requirements for specific geographical areas and industries: Vipin Kumar, Additional Secretary, Department of School Education and Literacy, Ministry of Education at IDEATE 2023
Need to ensure that women in tech not only find voice but make way for other women: Smriti Irani, Minister for Women and Child Development, Govt of India
Govt to set up National Institute of Mental Health Rehabilitation with Rs 179.54 crore outlay - Joint Secretary, Ministry of Social Justice and Empowerment
The notification of the CSR Rules by the Ministry of Corporate Affaires is a positive step...and the implementation will allow Boards all reasonable flexibility - says FICCI President
FICCI Task Force on Uttarakhand Rehabilitation to Build Affordable Houses, Skill and Train Youth, Provide Clean Water, Sanitation & Create Disaster Management Portal
Ministry of Education in discussions with state governments to identify vocation education requirements for specific geographical areas and industries: Vipin Kumar, Additional Secretary, Department of School Education and Literacy, Ministry of Education at IDEATE 2023
Need to ensure that women in tech not only find voice but make way for other women: Smriti Irani, Minister for Women and Child Development, Govt of India
Govt to set up National Institute of Mental Health Rehabilitation with Rs 179.54 crore outlay - Joint Secretary, Ministry of Social Justice and Empowerment
The notification of the CSR Rules by the Ministry of Corporate Affaires is a positive step...and the implementation will allow Boards all reasonable flexibility - says FICCI President
FICCI Task Force on Uttarakhand Rehabilitation to Build Affordable Houses, Skill and Train Youth, Provide Clean Water, Sanitation & Create Disaster Management Portal