CSR portal to aid management of projects
MUMBAI: With the opening of the National CSR Portal, more than 30,000 businesses that, according to the Companies Act, are subject to corporate social responsibility (CSR) will be able to effectively and efficiently manage their CSR programmes.
The platform will increase openness in CSR efforts by making it simpler for businesses to monitor project implementation. Additionally, it will make it easier for non-governmental organizations (NGOs) to raise money for social development projects.
As part of the government’s Azadi ka Amrit Mahotsav programme to honour and remember 75 years of independence, the platform was unveiled on June 7 by Minister of Finance and Corporate Affairs Nirmala Sitharaman. “Companies are unsure on how to handle CSR initiatives. Corporates and implementing agencies would be brought together on one platform by the site.
This will improve collaboration and increase openness when carrying out CSR programmes, according to a government source. Corporates formerly had to pay a registration fee to register themselves on the BSE Samman portal. Due to this additional fee, it was unable to attract corporate interest, and the portal did not take off. According to the source, CSR activities will benefit from it being fully free on the CSR Exchange Portal.