Priya Naik, Founder and Managing Director of Samhita Social Ventures emphasizes on financial inclusion as the key to economic and social development in an article in CSR Mandate. Financial inclusion is a fundamental cornerstone of economic and social development. The mandatory CSR spending, as stipulated by the Companies Bill 2012, can help foster partnerships and help achieve a joint approach to promoting financial inclusion in a way that is mutually beneficial to all stakeholders.
The government has notified the rules for implementation of Sec 135 of the Companies Act, which cover mandatory CSR obligations for companies. The Act will take effect from 1st April, 2014. With the notification of these rules, it is hoped that companies will be better positioned to make strategic and program commitments for their CSR activities. Here is Samhita’s interpretation of the rules and what they mean for companies and social organizations.
With the Companies Act 2013 clearly stating that companies should have a more long-term plan in place for CSR, companies are realizing that such small initiatives are not enough. “From being purely activity-based, the law is now nudging companies to have a more sustainable and long term approach with respect to CSR,” Krishnan Neelakantan, managing director, Samhita Social Ventures said.
On December 12, 2013, Samhita Social Ventures organized the “CSR in Healthcare – Making it work” conference that brought together more than 50 CSR professionals from over 30 companies and engendered conversation with medical practitioners, NGOs and social enterprises in the healthcare space to better the healthcare outcomes in the country. The Economic Times reports.
[IiAS] IiAS finds larger companies spending upwards of 1% on CSR; suggests a framework to evaluate this spend
Institutional Investor Advisory Services engaged with the Managing Director of Samhita Social Ventures, Mr. Krishnan Neelakantan, to develop a framework to evaluate the CSR effort of companies. In its special report titled ‘Corporate Social Responsibility: Review of current policies, practices and disclosures’, IiAS studied the FY13 CSR initiatives and disclosures of 51 companies forming a part of the BSE SNP Sensex30 and CNX Nifty50. This article lists the key findings of this study.
Samhita Social Ventures conducted a survey for its NGO and social enterprise network to capture their viewpoints and insights on the CSR provisions of The Companies Act 2013. The intention was to obtain their feedback on the initial draft rules released by the Ministry of Corporate Affairs and to assess their preparedness for tapping into this opportunity.
Around 48 social organizations responded to the survey.
On the occasion of the UN International Day of the Girl Child on Oct 11, 2013, Greenkins has committed to support and promote the cause of girls’ education through GirlPower campaign.
Greenkins will donate 11% of all sale proceeds to Kidpower’s Girl Child Project that provides education to underprivileged girls. The campaign will run all through October 2013.
Greenkins invite its customers to join the cause and contribute generously to this campaign.
“How do I retain people?” … “To what level do I need to raise salaries to retain people?” … Retaining people is tough for some organisations in the social space. A few weeks back I had a discussion with the head of one of the social enterprises I am involved with on what motivates someone […]
“The likes of Samhita Social Ventures, GiveIndia, Enterprise Nube’s Gudville and Rang De are likely to inspire more social entrepreneurs and ventures hoping to tap into the opportunity. The law, which for the first time, has laid down the ground rules for CSR and is likely to boost corporate charitable activity, would mean that the […]
The Indian Parliament recently passed the Companies Bill that ushers in a new regulatory stance towards corporate social responsibility (CSR). The Bill lays down mandatory requirements for larger companies to spend at least 2% of annual net profit on CSR activities. Here is an in-depth analysis of what this Bill means for companies and their CSR strategies.