Indian Government reitrates Guidelines on Corporate Social Responsibility (CSR) for Central Public Sector Enterprises (CPSEs)
Department of Public Enterprises has issued Guidelines on Corporate Social Responsibility for Central Public Sector Enterprises (CPSEs) in April, 2010 which, inter-alia, mention the expenditure range for Corporate Social Responsibility (CSR) in a financial year as a percentage of net profit of the previous year.
Expenditure range for CSR in a financial year is 3-5% of the net profit of previous year in case of CPSEs having profit less than Rs. 100 crores; 2-3% ( subject to minimum of Rs. 3 crores) in case the profit ranges from Rs. 100 crores to Rs. 500 crores and 0.5-2% in case of CPSEs having a net profit of more than Rs. 500 crores in the previous year. The CSR budget has to be fixed for each financial year and the funds would be non-lapsable.
Under these guidelines, the long-term CSR Plan is to match with the long-term Business Plan of the Organization. The activities under CSR ar to be selected in such a manner that the benefits reach the smallest unit i.e., village, panchayat, block or district depending upon the operations and resource capability of the company.
Banknet Group has produced a CSR (social awareness) short film to encourage people from villages to open accounts with banks & to promote financial inclusion. Theme of film is “Har Ghar Mein Ho Khata (Every household needs to have a bank account). We aim to assist the industry in their Corporate Social Responsibility initiatives by coming up with relevant TVCs, short films, theatre shows & events....
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