Corporate Social Responsibility (CSR) or Social Impact is a form of international private business self-regulation which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in, with, or supporting professional service volunteering through pro bono programs, community development, administering monetary grants to non-profit organizations for the public benefit, or to conduct ethically oriented business and investment practices. Social Responsibility is a thought which suggests that everyone, be it an individual or an organisation, has a moral obligation to work towards the benefit of society at large.
Corporate Social Responsibility in India is regulated under the Companies Act, 2013 and has been made mandatory for select categories of Companies. India is the first country in the world to make CSR a statutory obligation. There has been a gradual increase in awareness and acceptance of the fact of having such a moral obligation towards the society. More and more corporates are spending on fulfilling their social responsibility - some even doing it voluntarily.
Corporates can choose to undertake CSR activities either directly or through an implementing agency. Only spending is not enough, it is also important that the society at large is benefitted to the maximum.
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