Index to rank companies on CSR performance being prepared

NEW DELHI, As India Inc gears up for mandatory CSR spending from the next fiscal, a new index is in the works for ranking companies on the basis of
 
their efforts and spending towards social welfare schemes.The index, being prepared by the India Institute of Corporate Affairs and leading stock  exchange BSE, would rank the companies in different bands and their performance would be monitored dynamically on the basis of their reporting of CSR (Corporate Social Responsibility) activities.
 
 
 
“The reporting time for the CSR activity of corporate India would be financial year 14-15,” the Indian Institute of Corporate Affairs Director-General
 
and CEO   Mr Bhaskar Chatterjee said at a seminar organised by the Centre for Ethical Life and Leadership (CELL).
 
 
 
Asked when the CSR index would come into force, he said, “We are looking at a time frame of eight months or so after financial year 14 15.”Commenting on the CSR policy, S. Y. Quraishi, Former Chief Election Commissioner of India and Chairman of CELL, said: “India’s CSR Act is a
 
landmark initiative, a first in the world, to involve business in achieving national development goals together with the Government and civil
 
society.” The Hindu

Read Also : NMDC unveils Ex-Employee portal 'Samman'