FAQs on Corporate Social Responsibility

Corporate Social Responsibility (CSR) is also often referred to as company responsibility and its action on environmental, ethical, social and economic issues. CSR is not something new to India and the concept of trusteeship advocated by Mahatma Gandhi, the father of the Nation was embraced by many companies, in various forms over the years.

CSR is a concept whereby organizations serve the interests of their activities on customers, employees, shareholders, communities and the environment in all aspects of their operations. The government perceives CSR as a business contributing towards the nation’s sustainable development goals.

CSR has gained growing recognition as a new and emerging form of governance in business. It is fair to say that corporate India has performed exceedingly well in the discharging its responsibilities towards CSR and bringing transformational changes in the nation by enhancing social wellbeing and in uplifting the weaker sections of the society.

The Ministry of Corporate Affairs (MCA) on 22nd January, 2021 notified the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021.The said amendments have introduced significant changes in carrying out the CSR activities by India Inc. With a view to guide the members a webinar on “New dimensions: Corporate Social Responsibility” was conducted by ICSI. Considering the queries received during the webinar, these FAQs have been framed to aid the stakeholders in understanding the new concepts and substantial changes introduced in CSR. 

To download the full FAQs, click here