Question 1

What is Corporate Social Responsibility (CSR)?

Accepted Answer

Corporate Social Responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social, and environmental benefits for all stakeholders. In India, CSR is mandated under Section 135 of the Companies Act 2013, requiring eligible companies to spend at least 2% of their average net profits on CSR activities.

Question 2

What are CSR activities in India?

Accepted Answer

CSR activities in India include education, healthcare, environmental sustainability, rural development, disaster relief, promoting art and culture, women empowerment, skill development, poverty alleviation, and promoting sports, as mandated by the Companies Act 2013 and Schedule VII.

Question 3

Which companies must follow CSR rules in India?

Accepted Answer

Companies with a net worth of Rs 500 crore or more, or turnover of Rs 1,000 crore or more, or net profit of Rs 5 crore or more during the immediately preceding financial year must comply with CSR provisions under the Companies Act 2013.

Question 4

What is ESG reporting?

Accepted Answer

ESG (Environmental, Social, and Governance) reporting is the disclosure of data covering a company's operations in those three areas. It helps investors and stakeholders understand how companies manage risks and opportunities related to environmental impact, social responsibility, and corporate governance.