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January 06, 2016

CSR Platform Goes Live on Bombay Stock Exchange

In a one of a kind initiative, Samman, a CSR platform, went live on the Bombay Stock Exchange on 9 December 2015. The platform has been created jointly by the Confederation of Indian Industries and the Indian Institute of Corporate Affairs.


The aim of this platform is to help companies identify NGOs and not profit agencies and provide support to their projects as part of the Corporate Social Responsibility mandate under the Companies Act. This article in the Economic Times describes the role played by the CSR platform and the progress so far.


The article states that "As per a recent analysis done by BSE, there are 1,294 companies listed on its exchange that are required to spend nearly Rs 7,800 crore on CSR activities in the current fiscal." According IDFC Institute's Visiting Fellow Praveen Chakravarty, who has been closely involved with this project, more than 600 projects in need of around Rs. 2000 crores across various cities and towns have been listed on this platform and approximately 200 companies have been registered. If successful, this initiative will help companies find legitimate organisations and projects that they can support and will help NGOs meet their fundraising targets expeditiously.

TAGS: BSE , CSR , NGO , Companies
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