To be a company which is sensitive to the development of communities in the geographies that it operates in and makes a positive impact through its efforts. To be a Company, whose employees are passionate about volunteering and creating a meaningful impact on the society.
The Company believes that the primary purpose of a business is to improve the quality of life of people and that a corporate entity exists to serve society from where it sources its customers and other stakeholders. Hence, it is important to address the needs and concerns of the society in a proactive manner.
The Company will discharge its social responsibilities through assisting communities by actively implementing one or more developmental projects in any of the following areas:
- Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation including contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water.
- promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects.
- promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups.
- ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal.
- welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga.
- protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional art and handicrafts.
- measures for the benefit of armed forces veterans, war widows and their dependents.
- training to promote rural sports, nationally recognised sports, Paralympic sports and Olympic sports.
- contribution to the prime minister's national relief fund or any other funds set up by the governments for socio economic development and relief and welfare of the schedule caste, tribes, other backward classes, minorities and women.
- contributions or funds provided to technology incubators located within academic institutions which are approved by the central govt.
- rural development projects.
- slum area development.
- other permissible CSR activities, as may be recognised under applicable law, from time to time.
In pursuit of its CSR programs, the Company would leverage its infrastructure, resources and expertise to design and implement various programs and actively promote volunteering by its employees. The Company would set-up a mechanism to monitor the CSR activities which may include the following:
- Determination of the monitoring schedule for each project;
- Periodically obtain the relevant progress reports of the project;
- Discussions meetings with the implementation partner to be convened for identification of reasons for slippages (if any) and corrective action;
- A project completion status to be submitted to the CSR Committee after full commissioning /completion of the project.
The implementation of the CSR programs in the given focus areas would be done through NGO and other partners with relevant experience and credibility.
The minimum funds allocated for CSR would be as per the Indian Companies Act 2013.
The Company will ensure that the surplus arising out of the CSR activity will not be included as a part of business profits of the company.
This policy provides that the corpus of funds allocated for CSR activities would include 2% of the average net profits of preceding three years as per the Indian Companies Act 2013 read with the rules thereunder.