CORPORATE SOCIAL RESPONSIBILITY: A STUDY ON CSR PRACTICES OF SELECT INDIAN COMPANIES

Author Name: 1. Dr. Praveen B. Patil 2. Prof. Pavankumar Ramgouda

Volume/Issue: 02/02

Country: India

DOI NO.: 08.2020-25662434 DOI Link: https://www.doi-ds.org/doilink/07.2021-92881967/UIJIR

Affiliation:

1. Assistant Professor, Jain College of MCA and MBA, Belagavi, Karnataka, India.
2. Assistant Professor, Jain College of MCA and MBA, Belagavi, Karnataka, India

ABSTRACT

As per New Company Law, 2012 all companies must contribute 2% of their net profits towards CSR which made Indian companies to consciously work towards CSR, as it is required a prescribed class of companies to spend a portion of their profits on CSR activities. As the companies begin their operations in the society, for the society and from different resources provided by the society, it becomes critical for them to give something in return to the society. CSR has become a fundamental business practice and has gained much attention from the management of large international companies. It facilitates the alignment of business operations with social values. CSR is deemed as a point of convergence of various initiatives aimed at ensuring socio-economic development of the community. As we know, today Indian corporates go beyond Philanthropy (Charity) concept and it’s more concentrate on all the stakeholders. This research paper attempts analyze the Corporate Social Responsibility practices followed by corporates operating in India. This paper will help the researchers and scholars in identifying the best CSR practices and to do further studies on what is best for India and what India really needs as CSR from the corporate. This paper further seeks to identify the failures of companies in meeting the expectations of the society and helps to provide some suggestions to improve the CSR practices to better serve the society and the country on the loose.

Key words: Corporate Social Responsibility, Philanthropy, Companies Act 2013, Society