The ASSOCHAM CSR Excellence Award was bagged by the infrastructure major GMR Hyderabad International Airports while Ambuja Cement was the first runner-up. The award for the SME segment for the CSR excellence was given away to Indus Health Plus. Other awardees included Chambal Fertilizer and Chemicals, JK Paper, NTPC, ONGC, Punjab National Bank and Tata Motors.

Communication Minister Mr Kapil Sibal gave away ASSOCHAM awards for the 6th Global Corporate Social Responsibilities Summit.

While addressing the summit, Mr. M J Joseph, Additional Secretary, Ministry of Corporate affairs said his ministry would soon notify section 135 of the new company act that will with CSR. These activities will qualify for CSR spend and these are likely to undergo changes in the light of suggestion received from stakeholders.

Quoting a study, ASSOCHAM President Mr Rana Kapoor said, “a minimum of 16,000 Indian companies fall under the ambit of the law and that entails approximately Rs 28,000 Crores of funds that would be pumped into the system. There emerges a huge opportunity for a tripartite partnership amongst the Government, Businesses and NGOs.

Looking at the efficacy in delivery of the last mile by the ‘third sector’ (NGOs), and their inherent capability to connect with communities and execute large projects on ground, a positive push in this sector makes for an excellent combination for accelerated social impact, said Mr. Kapoor.

source: http://www.microfinancemonitor.com / MF Monitor / Home> Stay Connected / Saturday – March 08th, 2014