Act- means the Companies Act, 2013 as amended from time to time

CSR- means Corporate Social Responsibility

CSR Policy – means the policy approved by the board as the Corporate Social Responsibility policy of thecompany as amended from time to time.

CSR Rules or Rules – means Companies (Corporate Social Responsibility Policy)Rules, 2014

The objective of the CSR Policy (“Policy”) is to lay down the guiding principles in undertaking various programs and projects by or on behalf of the Company relating to Corporate Social Responsibility (“CSR”) within the meaning of section 135 of the Companies Act, 2013 read with Schedule VII of the Act and the CSR Policy Rules 2014 (“Rules”).

The policy shall be applicable to all CSR activities of the company whether carried by it or through any implementation agency with immediate effect.

CSR Committee means the committee of the board constituted in terms of Section 135 of the Companies Act, 2013 read with Rule 5 of the rules. As per Section 135(9), Where the amount to be spent by a company under CSR does not exceed fifty lakh rupees, the requirement under sub-section (1) for constitution of the Corporate Social Responsibility Committee shall not be applicable. Hence, the requirement of constitution of CSR Committee is not applicable to the Company and the functions of this committee shall be discharged by the Board of Directors of the Company.

i) Formulate a CSR Policy indicating the activities to be undertaken as specified in Schedule VII of the Companies Act, 2013 and modify / amend the same as required;
ii) Review and approve annual budgets with respect to CSR programs;
iii) Review the progress of CSR projects already undertaken by the Company.
iv) Review the CSR report to be included in the board’s report.
v) Review and make amendments in the CSR policy of the Company.
vi) Carry such other functions as may be decided relating to CSR activities of the Company.

As part of the CSR program, the company is presently engaged in several projects which are socially relevant and demanding in the locality surrounding its corporate office area and other locations where the company has branches or other places of business. The company may continue to undertake / fund project, programs or activities of the following nature and also undertake such other activities as may be approved by the board as is falling under schedule VII of the Act 2013.

I) Promotion of Health care

The Company may undertake projects or programs or activities aimed at improving the health and hygiene of the socially or economically weaker sections, families in the below poverty line (BPL) by providing free or subsidized medicine, clinical laboratory facilities, free or concessional treatments at hospitals, provide medical equipments, setting up of medical and diagnostic camps, free medical insurance for a group of people or families in the BPL category, projects or programs aimed at eradicating poverty or malnutrition of women and children, pain and palliative care etc.

II)  Old Age homes /Day Care facilities for senior Citizens

Company may undertake projects or programs or activities for the protection of elderly citizens by establishing, funding or otherwise supporting old age homes and day care facilities including medical aid, food and accommodation.

III) Promotion of Education

Company may undertake projects or programs or activities aimed at the promotion of elementary to professional education and to support the students belonging to weaker sections of the society including SC/ST/OBCs by way of setting up schools, colleges, coaching centers, providing libraries, text books and other study materials, vocational training centers and centers for physically challenged students, providing endowments or other forms of recognitions to successful candidates pursuing recognized examinations, scholarships or other forms of merit cum means assistance etc.

IV) Empowerment of women

Company may take up and carry on projects, programs or activities aimed at women empowerment and gender equality. The objective may be achieved through supporting women belonging to socially or financially weaker sections of the society by providing job oriented training programs with an objective of making them financially independent.

Further, the Company may take up all or any projects, programs or activities falling under any of the activities in the following fields as approved by the board -

i) Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources and maintaining quality of soil, air and water;
ii) Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional arts and handicrafts;
iii) Measures for the benefit of armed forces veterans, war widows and their dependents;
iv) Training to promote rural sports, nationally recognized sports, Paralympics sports and Olympic sport;
v) Contribution to Prime Minister’s National Relief Fund or any other fund set up by the Central Government for Socio-economic development and relief and welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women.
vi) Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government.
vii) Rural development projects.

The objective of the policy is to act as a guideline for the company in its endeavor to undertake socially relevant activities that will result in the overall objective of the company to create societal capital/assets for the common good and the list of activities shall be interpreted in a manner that will advance the objective. The policy shall be deemed to have amended or modified to the extent of any modification/ amendments or clarifications issued by the Central Government from time to time in relation to the CSR obligations of companies and shall be interpreted accordingly.

The Company may undertake one or more projects or programs or activities provided in the policy either as its own or through any implementation agency. It shall be the endeavor of the company to build up necessary capabilities to implement the CSR projects on its own in the long run. It can also acquire the services of experts in respective fields by appointing them as consultants in a particular program or project. Where implementation agencies are appointed for a particular project, the company shall acquire the necessary skills to run the program on its own within 3-5 years from its implementation where it is a continuing program. While engaging a third party agency for implementing a project or program covered in the CSR policy, the board shall ensure that they have credible standing and experience in the respective fields for at least three preceding financial years

The Company may undertake programs in collaboration with other companies only in cases where such programs are separately reportable in the CSR report of participating companies.

The Board of Directors ofthe company will be responsible for the monitoring of various CSR projects or programs undertaken by the company directly or indirectly. The board shall ensure that;

i) Company undertakes the CSR activities as provided in the CSR policy.
ii) The projects/ programs are implemented as per the program approved by the board
iii) The budget allocated for each of the project is utilized for the projects as per the approved plans.
iv) The objective of the project/program is achieved as per the plans
v) Wherever projects/programs are undertaken in partnership with one or more organizations, the part of the project or program undertaken by the company shall be distinguishable and necessary supporting documents in respect of the same shall be obtained from the other partners/implementing agency on an annual basis.

Company shall provide necessary resources and human capital for implementation and the effective monitoring of the CSR projects and programs. The services of any external agencies or persons who have an experience in the same or similar projects or programs undertaken or proposed to be undertaken by the company may also be made available for successful implementation and monitoring of the project.

Surplus arising out of any CSR project or program or activities shall not form part of the business profit of the company.

The CSR policy of the company may be amended at any time by the board of the company.

On approval of the CSR policy or any amendments thereof, the contents of the policy shall be included in the Boards’ report and the same shall be displayed on the website of the company if any.

At the end of each financial year, the board shall prepare a report of the CSR program in the prescribed form relating to the financial year for its inclusion in the Board’s Report.