CSR FUNDING
What is CSR Fund?
CSR Fund is a term used to refer to the funds that are provided by companies for social development projects under the Corporate Social Responsibility (CSR) policy. CSR is a mandatory provision under the Companies Act, 2013, which requires companies with a net worth of rupees 500 Crores or more, or turnover of rupees 1000 thousand Crores or more, or net profit of rupees 5 Crores or more, to spend at least 2% of their average net profits on CSR activities.
CSR funding is a grant process under which non-profit organizations can get financial as well as other support from the corporate players for various causes such as education, health, environment, women empowerment, etc. CSR funding agencies are the entities that facilitate the CSR funding process by connecting the companies with the eligible NGOs and monitoring the implementation and impact of the CSR projects.
A CSR fund is a type of fund that is used to support corporate social responsibility (CSR) initiatives. CSR initiatives are programs or projects that businesses undertake to benefit society.
CSR funds can be used to support a wide range of CSR initiatives, such as:
Environmental protection, Education, Healthcare, Poverty alleviation, Disaster relief and Social justice, etc.