Sweta Ranjan | April 15, 2015
After a year of two percent mandatory Corporate Social Responsibility (CSR) provisions, there have been a lot of speculations regarding non compliance issues.
The Indian Institute of Corporate Affairs (IICA), think tank under ministry of corporate affairs has a different story to share. In an exclusive interview Dr Bhaskar Chatterjee, DG, IICA, shares that it has sparked a sort of war amongst PSUs. He says, “It is a matter of great pride to see companies getting into a race to be the best.”
Swagata Sen Pillai, head, Corporate Communication Vertical, shares that PSUs are giving tough competitions to each other to stay ahead.
They all want to spend more than each other. There is a fight for even 0.5 percent. They are at least fighting to do better for the society and mainly because there is a criterion and rating also for CSR work to be titled as a Navratna or a Maharatna company. She says, “I will not say the PSUs have not performed. They are fighting with each other for that 0.5 or 0.25 percent that will bring them up to the level of a mini ratna or navratna.”
Dr. Chatterjee says, “We have made things aspirational and that’s the beauty of the whole provision. The spirit of the company uplifts the moral of your employees, of your shareholders, of your stakeholders. It builds your brand image and you as the CMD imagine your own conscience. How happy would you feel”.
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