Bihar government to set up CSFT for ensuring more benefits under CSR

Modi informed the gathering of investors that almost 19000 bank accounts were opened in Bihar after demonetisation.

Published: 30th November 2019 07:01 PM  |   Last Updated: 30th November 2019 07:01 PM   |  A+A-

Bihar Deputy CM Sushil Kumar Modi

Bihar Deputy CM Sushil Kumar Modi (Photo | PTI)

Express News Service

PATNA: Deputy chief minister of Bihar Sushil Kumar Modi said that the state government is mulling over to set up Corporate Social Fund Trust (CSFT) to ensure more benefits to the state under the Corporate Social Responsibility. 

Sharing this at 'Stakeholders and Investors Summit 2019', organised by Registrar of companies of Bihar,the Ministry of Corporate Affairs and the institute of company secretaries of India here on Friday evening, Modi said :"Bihar has got only a part of Rs 271 crore out of a total amount of Rs 8,636 crore, which was spent by companies under the CSR fund in the last four years in India. With the setting up of CSFT Fund, Bihar will get more than 2 per cent of its participation".

Modi informed the gathering of investors that almost 19000 bank accounts were opened in Bihar after demonetisation. " In each of these accounts, an amount of more than Rs 2 lakh was deposited by the holders," he said.

He added that the registrations of more than 3.38 lakh, including 5,913 companies of Bihar, were cancelled due to'malicious', transactions.
 

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