Comments
“CSR must bring direct benefit to marginalised, disadvantaged and deprived section of the community,” said Bhaskar Chatterjee, DG & CEO, Indian Institute of Corporate Affairs.
Speaking at a panel discussion on 'CSR – the new game changer' held here last evening at the Indian Merchant Chambers (IMC), Chatterjee said: “It should not benefit the employees of the company and family, if it does, it is not CSR.''
From April 1, companies who have to comply or give explanation regarding their corporate social responsibility (CSR) activity are those with a net worth of Rs 500 crore or more, or a turnover of Rs 100 crore, or net profit in a financial year of Rs 5 crore. Under the new CSR law, there must be complete disclosure of committee members in the board who would approve the CSR projects. This will ensure that accountability and streamlining of funds for the benefit of poor increase, Chatterjee said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.