National CSR Exchange Portal to become a reality

National CSR Exchange Portal has become a reality in India. It aims at enhancing and aiding the implementation of Corporate Social Responsibility initiatives. As Corporate Social Responsibility (CSR) became mandatory under the Companies Act 2013, more and more companies have to abide by the legislation making it essential to direct companies with relevant resources and expertise towards the same.

To manage their CSR projects effectively, the government launched the National CSR Exchange Portal earlier this month to celebrate Azadi ka Amrit Mahotsav.

The National CSR Exchange Portal is a digital initiative that will enable stakeholders to list, search, interact, engage and manage their CSR projects voluntarily, according to an official release.

This National CSR Exchange Portal will serve as an e-marketplace hosting PAN India social welfare projects where stakeholders such as Implementing agencies can put up their ongoing projects, and companies can select projects for CSR Spending per their preferences and vice versa.

The Exchange Portal has been developed based on recommendations of the High-Level Committee on Corporate Social Responsibility 2018. An Advisory cum Technical Committee was formed for the development of the portal. The Committee was represented by different CSR Stakeholders – CSR Practitioners, Technical Experts, and Civil Society Organizations. The Committee apprised of BSE Sammaan, an initiative of MCA Think Tank: Indian Institute of Corporate Affairs, Confederation of Indian Industry, and Bombay Stock Exchange, which offered similar functionalities as envisaged for the National CSR Exchange Portal.

The exchange was launched by the Union minister Nirmala Sitharaman, who is in charge of the finance and corporate affairs ministries, in the presence of Minister of State for Corporate Affairs Rao Inderjit Singh and senior officials.
Today's Quote
"CSR is a hard-edged business decision. Not because it is a nice thing to do or because people are forcing us to do it because it is good for our business."
Niall FitzGerald
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