Why should CSR and Finance teams attend the AMA session on CSR Regulations in India?
The Covid-19 pandemic has disrupted the ‘normal’, leaving no part of human life behind. Health, livelihood, education, access to services, families and communities – everything got affected. Easily contractable nature of the virus and lack of vaccine, quickly exacerbated the situation across the country. While the utility of the nationwide lockdown is still being debated, CSR efforts by India Inc. have been very well complementary to the action taken by the Central and State Governments.
It was crucial to unlock CSR potential as an important contributor in Covid-19 relief and rehabilitation. In the wake of the pandemic, the Ministry of Corporate Affairs (MCA) swiftly made amendments to the regulations for facilitating prompt corporate action. The companies required agile teams to quickly reconsider priorities, reallocate the budgets and execute the targeted interventions – all while being compliant with the old and new rules.
Within a company, CSR and finance teams are at the forefront of ensuring its compliance with the CSR regulations. In CSR parlance, the guidelines of Sec. 135 of the Companies Act (known as – CSR Law), encompass almost all the stages of CSR lifecycle: starting from program design, identification of partners, program implementation to monitoring and reporting. Being compliant with the regulations isn’t easy since their adaptation includes a range of interpretations and ambiguities. Challenges in understanding and interpreting the rules can jeopardize the program design, cause delays in implementation , eventually hampering the desired impact.
Being a key player in the CSR ecosystem, Goodera regularly deals with queries related to adaptation of the CSR regulations in various circumstances. The CSR mandate has evolved over the past 7 years, gradually widening its ambit. The draft rules published by MCA on 13th March 2020, have added a sense of anxiety to the CSR ecosystem. These draft rules are not yet notified, hence haven’t been mandated yet. The ‘new-normal’ owing to Covid-19 has thrown in another set of challenges in adaptation of the CSR regulations.
At times, corporate intentions of driving social impact through NGO partners, get underwhelmed by the stringent and seemingly confusing regulations. Through this webinar, Goodera aims to discuss solutions to such tough and yet-unaddressed questions. Most common issues are around topics such as treatment of unspent CSR funds, changes introduced via draft rules and eligibility of activities for Covid-19 relief and rehabilitation.
You may be a CSR representative or a CFO or a fundraiser with an NGO – we are sure that you require some clarifications on operationalizing the CSR regulations. To make this webinar relevant and worthwhile for the audiences, it is important that we know what those questions are. Use the link provided below to register and submit your query beforehand so that it certainly gets answered during the webinar. It’s a platform to share and cross-learn!