Now Cos to be Ranked for Their CSR Performance As India Inc gears up for mandatory CSR spending from the next fiscal, a new index is now in the works for ranking companies on the basis of their efforts and spending towards social welfare schemes. The index, being prepared by the India Institute of Corporate Affairs and leading stock exchange BSE, would rank the companies in different bands and their performance would be monitored dynamically on the basis of their reporting of CSR (Corporate Social Responsibility) activities. “The reporting time for CSR activity of corporate India would be financial year 14-15,” Indian Institute of Corporate Affairs director general and CEO Bhaskar Chatterjee said at a seminar organised by Centre for Ethical Life and Leadership (CELL). Asked when the CSR index would come into force, he said, “We are looking for a time frame of eight months or so after financial year 14-15.” Commenting on the CSR policy, SY Quraishi former chief Election Commissioner of India and chairman of CELL said: “India’s CSR Act is a landmark initiative, a first in the world, to involve the business in achieving national development goals together with the government and civil society.”
Posted on: Tue, 01 Oct 2013 06:40:41 +0000
Trending Topics
Recently Viewed Topics
© 2015