MUMBAI: With the launch of National CSR Exchange Portal, more than 30,000 companies, which come under the purview of corporate social responsibility (CSR) as per the companies act, will be able to manage their CSR projects efficiently and effectively.
The portal will bring transparency in CSR activities, as it will be easier for the companies to track implementation of the projects. Also, it will facilitate fundraising by non-government organisations (NGOs) for social development projects.
The portal was launched on June 7 by the Finance and Corporate Affairs Minister Nirmala Sitharaman as part of Azadi ka Amrit Mahotsav, an initiative of the government to celebrate and commemorate 75 years of independence. “Companies don’t know how to approach for CSR activities. The portal will bring both corporates and implementing agencies on one platform.
This will lead to better coordination and more transparency in executing CSR projects,” a government source said. Earlier, corporates had to pay registration fee on BSE Samman portal to register themselves. Due to this additional charge, it couldn’t elicit interest from corporates and the portal failed to take off. It’s completely free on CSR Exchange Portal, which will aid CSR activities, the source said.
Also, there are many firms, which don’t fall under the ambit of CSR but are willing to engage in CSR activities. The portal will help them identitfying NGOs with whom they can partner.