Never miss a story

Get subscribed to our newsletter


×

Mumbai: As many as 16,500 companies in India fall under the purview of mandatory corporate social responsibility (CSR) norms, posing a challenge not only for those engaging in such causes for the first time but also others in terms of effective implementation and reporting, experts maintain.



“Companies have good intention to spend on CSR but are not able to manage the entire CSR lifecycle,” said Parul Soni, global managing partner with Thinkthrough Consulting Global, which specialises in social development initiatives.

“They are unable to find good implementing partners — those who are able to understand the vision of the company,” Soni told a seminar co-hosted by the National HRD Network (NHRDN) and Thinkthrough Consulting.

“There is an immediate need to develop the capacity of the implementing partners across different domains so that they can sustainably implement the CSR vision of the company.”

Stakeholders told the seminar that despite India emerging as one of the fast-growing economies, millions of Indians still live in abject poverty, putting the corporate sector under severe scrutiny due to such uneven development.

With Section 135 of the Companies Act, 2013 laying down the rules for CSR, the seminar focused on “From Act to Action” towards better implementation of the mandate given to the corporate sector, as also to prepare a blueprint for the road ahead.

“CSR needs to focus on issues related to women empowerment, child nutrition. We say our children are the future of this country! Let’s collectively make an effort to keep our future well nourished at an early age, as most of their growth happens during the first few years,” Lalitha Kumarmangalam, chairperson of National Commission for Women, said.

“Also let’s rise & contribute towards the women empowerment by ensuring financial independence, instilling soft skills and by making them technology savvy,” she added.

Most NGOs or foundations for social welfare, are run by people with good intentions but the lack of execution and insufficient co-ordination with the corporates is not getting them the respect they deserve, K Ramkumar, national president NHRDN and executive director ICICI Bank said.

“It is this mismatch which is making the funds fall through the cracks.”

(IANS)


Popular

Unsplash

Meta-owned WhatsApp on Monday announced an incubator programme in India.

Meta-owned WhatsApp on Monday announced an incubator programme in India that will select 10 organisations and help them build digital solutions to tackle critical health issues.

Called the WhatsApp Incubator Programme (WIP), the initiative aims to facilitate positive and measurable health outcomes at scale by leveraging the WhatsApp Business Platform.

Keep Reading Show less
Unsplash

India has to define its stand and negotiate its international policy keeping in view the nation's best interests of the long run.

By D.C. Pathak

Advent of Biden Presidency with its resonating calls of 'America is back', 'we will repair our alliances' and 'will engage with the world once again' on one hand and the rise of President Xi Jinping with a stronger hold on China after the Plenary session of the 19th Central Committee of CPC, on the other, have got strategic analysts to examine if a new Cold War was already on the horizon.

Keep Reading Show less
Unsplash

Digital becomes more popular and companies expand their D2C (direct-to-consumer) connections

Smartphone companies which have strong consumer pull now face most of the reputation issues caused by infringement of their brands in the digital space, according to a new report.

There are three main techniques pertaining to brand infringement —fake gratification, fake presence and fake representation.

According to Faisal Kawoosa, founder and chief analyst, Techarc, as digital becomes mainstream and brands increase their D2C (direct-to-consumer) engagements, they need to proactively police the digital space to hunt for any infringement cases.

Follow NewsGram on Twitter to stay updated about the World news.

"The first thing brands need to do is to come out of denial mode and create a common synergy between marketing, ecommerce, IT and digital teams," he said in the Brand Reputation Index (BRIX) report.

In fake gratification, scammers infringe any brand's identity by offering fake coupons, rewards, schemes, and discounts. This is the easiest trap for consumers who are searching for best deals when they decide about buying a smartphone of their interest.

Keep reading... Show less