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CSR Project on Education

Bajaj Finance Limited

Bajaj Finserv, a part of Bajaj Holdings & Investments Limited, is an Indian financial services
company focused on lending, asset management, wealth management and insurance.
The company employs over 20154 employees at 1409 locations, and is engaged in consumer
finance businesses, life insurance, and general insurance.Apart from financial services, Bajaj
Finserv is also active in wind–energy generation.
Bajaj Finserv was ranked among The Economic Times 500 as 119 in 2014.


The financial and wind energy businesses were transferred to Bajaj Finserv Limited (BFS) as
part of the recently concluded demerger from Bajaj Auto Limited, approved by the High Court of
Judicature at Bombay by its order dated 18 December 2007. The demerger was effective on 31
March 2007.
Bajaj Holdings has been registered as a Non–Banking Financial Company (NBFC) under the
Registration No. N–13.01952 dated 29 October 2009 with Reserve Bank of India (RBI). The
company is classified as a Systemically Important Non–deposit taking NBFC as per RBI


Promoting Education & Healthcare (2017-18)

Project Budget: INR 12.45 Cr

Implementing Partners

Jankidevi Bajaj Gram Vikas Sanstha


Jeevoday Education Society

Ummeed Child Development Center

Akanksha Foundation

Committed Communities Development Trust (CCDT)

Project Description

Company has contributed some amount of money for different projects, such as pilot on Bio Gas
Grid, addressing issues of child health and nutrition, promoting education of mentally disabled
children, treatment of children with developmental disabilities, funding support for promoting
education, Crisis Intervention centre for children who are in crisis/orphan, livelihood
enhancement projects for urban ultra poor families, etc.

Project Location

Project Location: Bengaluru-Karnataka, Maharashtra, Rajasthan,

Bajaj Finserv was formed in April 2007 as a result of its demerger from Bajaj Auto Limited to
further the Group’s interests in financial services. This demerger enabled Bajaj Finserv to
independently run the core businesses of Lending, Protection and savings. Bajaj Finserv Limited
is the holding company for the businesses dealing with financial services of the Bajaj Group. It
serves millions of customers in the financial services space by providing solutions for asset
acquisition through financing, asset protection through general insurance, family protection and
income protection in the form of life and health insurance and retirement and savings solutions.


Bajaj Finance Limited (BFL), participates in the financial business and is a company listed on
The Stock Exchange, Mumbai (the BSE) and the National Stock Exchange (NSE).

BFL also operates through a 100% subsidiary namely, Bajaj Housing Finance Limited (BHFL)
which is registered with National Housing Bank (NHB) as a Housing Finance Company (HFC)
for its mortgage business. BHFL started its operations in FY2018 and all the incremental
mortgage business is now done through BHFL.

Protection and savings

These are done through (i) Bajaj Allianz General Insurance Company Limited (BAGIC) for
general insurance including health insurance; and (ii) Bajaj Allianz Life Insurance Company
Limited (BALIC) for life insurance and retirement plans. BAGIC and BALIC are both unlisted
joint ventures with Allianz SE, one of the world’s leading composite insurers.

Digital and Online Platform

During the year under review, Bajaj Financial Holdings Ltd., a wholly-owned subsidiary, has
firmed up new business plans for undertaking activities on digital and online platform to
augment the business of the Company’s subsidiaries and has changed its name to Bajaj Finserv
Direct Ltd. with effect from 27 February 2018

In addition, there are wind-farm assets in Maharashtra with an installed capacity of 65.2 MW.

We believe good is the enemy of great. And this belief fuels the desire to create a better reality
every day. Today, we’re the most diversified non-bank in the country financing the widest set of

You may think that all banks and non-banks do it, so what’s the big deal? There is.

While you go about acquiring means(finance), we let you do it in the least time and with the least
effort. And we ensure your pursuits are not hindered by limited access to finance by extending
the biggest ticket sizes across most of our portfolios.

This culture of performance and delivery is central to us. It runs through our products, customer
experience and orientation of all employees. Through deep investments in technology, processes
and people, we have constantly strived to deliver what we promise.

The net result - you get what you need in lesser time, lesser effort, so that all your life pursuits
are hassle-free.

Consumer Finance

Durable Finance

Lifestyle Finance

Digital Product Finance

EMI Card

2 & 3 Wheeler Finance

Personal Loan

Loan against FD

Extended warranty

Gold Loan

Home Loan
Retail EMI

Retailer Finance


Co-branded Credit Card

Co-branded Wallet

Today, we are the top consumer electronics, digital products, lifestyle products and personal
loans lenders in India.

SME Finance

E-commerce seller finance

Home Loan

Loan against Property

Gold Loan

Lease rental discounting

Business Loan

Loan Against Shares

Professional Loan

Working Capital Loans

Developer Finance

Present in the top 40 cities in India, our SME business is growing at the rate comfortably higher
than the industry.

Commercial Lending

Vendor Financing

Large Value Lease Rental Discounting

Loans against Securities

Financial Institutions Lending

Light Engineering Finance

Corporate Finance

Warehouse Financing


Fixed Deposit

Mutual Funds

The Fixed Deposit scheme of the company is accredited with the highest degree of safety by
CRISIL via FAAA rating.

Bajaj Finserv has made its mark as the one of the top-notch non-banking financial company in
India through a gamut of Loan & credit card services provider in India. The Gold Loans and EMI
card loan services are offered across 139 locations .Bajaj Finserv has adopted a service delivery
model which ensures is not only quick but hassle free as well . It is one of the first companies to
offer doorstep delivery services for the loan application.

Bajaj Finserv Home Loan Interest Rates in 2019

8.50% onwards (For Salaried

8.85% onwards (For Self
Interest Rate Employed)
Up to 1% (Salaried), Up to 2%
Processing Charges (Self Employed)
Prepayment or Nil for individual with floating rate
Foreclosure Charges of interest
Secure fee Up to Rs. 9,999 (One time)
Penal interest 2% per month
EMI bounce charges Rs.3,000.00

The key features of Bajaj Finserv loans are:

 Bajaj Finserv offers one of the quickest and easiest Loan solutions wherein the
loan is instantly approved within 5 minutes and the disbursal in borrower’s bank account
is done within 72 hours.

 Seamless application process- In order to apply for any type of loan the interest
borrower has to just fill an online application form and check his Loan eligibility
instantly. In case the loan is approved, a representative from Bajaj Finserv gets in touch
with the borrower and collects the required documents.

 Once approved the funds are disbursed online through RTGS/ NEFT mode within
72 hours of the Loan approval. This is one of the quickest by any NBFC in India.

 Bajaj Finserv is reckoned as one of the best consumer loan providers in India and
is currently offering various types of loan in over 139 locations.

 The company offers doorstep services for collection of documents for loan
application and the processing.

 The applicant is required to simply required call the company and the
representative goes to the individual’s residence to complete the application process

 Easy Repayment option in tenure ranging from 24 months up to 60 months in

personal loan and up to 20 years in home loans

 Online Loan EMI calculator help interested borrower to know how much his
potential EMI will be for the Loan he is planning to avail

 The existing customers of Bajaj Finserv are eligible to avail various exclusive pre-
approved offers such as Personal Loans or top up loans.

 The existing borrowers are offered with a state-of-the-art online platform to have
all information about their Loan account such as repayment schedule, annual interest
certificate, loan repayment track and various other key information bites related to their
loans and online customer portal.

 Personal Loan Interest Rate offered by Bajaj Finserv is 12.99% onwards.

The different types of loans and finances offered to salaried individual are as follows:

1. Home loan:The benefits of Bajaj Finserv home loans are:

 Home loans at Baja Finserv is offered for various Home rated purpose, may that
be buying or constructing new house or the repair and renovation of existing one .
 Bajaj Finserv also offers refinancing options under which a customer can avail
loan amount up to the full registered value of the property.

 The home loans amount ranges from Rs.30 lakhs to Rs.15 crores at an interest rate
starting from 9.85%.

 No charges for complete prepayment and even part prepayment of loan amount.

2. Bajaj Finserv Loan against Property

 Loan against property by Bajaj Finserv is available to any salaried or self-

employed resident individuals as well as to firms and companies listed in India.

 The loan against property can be availed under different sections such as
mortgage, loan against residential property, loan against residential plot, loan against
commercial property and towards purchase of plot.

 The Flexi Saver option brings the features of Term Loan and the Credit Line
facility together and allows the borrowers to save interest and to manage the cash flow

 The borrowers of Bajaj Finserv loan against property can prepay the principal
amount equal to 3 times the monthly installment amount

3. Consumer Durable finance:

 The durable loan by Bajaj Finserv is reliable and hassle-free. Once the customer
avails the loan, they are also provided various other financial service and offers.

4. Lifestyle finance:

The sanction process is trouble-free and on the spot.

5. EMI card

6. Doctor loan

7. Loan against shares

8. Gold loan:

 Bajaj Finserv Gold Loan can be availed by salaried or even self-employed

individuals as well as firms and companies

 The gold ornaments are valued as per the Carat Meter, available in-house with the
 The minimum gold loan amount is Rs.25,000 whereas the maximum gold loan
available is Rs.25 lakhs.

 The maximum loan amount for firms and companies is Rs.5 lakhs.

 The loan tenure could be between 1 month and 36 months.

 The gold ornaments pledged with the Bajaj Finserv secured safely in state of the
art locker rooms to prevent theft or tampering.

9. Loan against fixed deposits

10. Two and three wheeler finance: Eligibility for Bajaj Finserv loans for salaried employees

 Any resident individual employed in a reputed firm for more than 2 years.

 Maintaining a salary account in any bank with monthly salary credit in the

 Should be more than 21 years of age upto 70 years.

Documents for salaried person are

 Identity Proof- PAN card/Driver’s license/Aadhar card Passport copy.

 The applicant’s signature, Name, photograph and date of birth in the document
provided should be clear and understandable.

 Address Proof: Copy of latest utility bill/ Rental or lease agreement copy along
with a valid copy of utility bill in the name of the landlord/ Last 6 months’ account

 Last 6 months bank account statement: These documents seek to verify the
applicant’s income status prior to making the application for loan which also depicts the
individual’s financial picture depicting the credit worthiness of the person.

 Latest 3 months salary slip

 Signature proof: The applicant needs to maintain the same signature throughout
the loan period

Eligibility for Bajaj Finserv loans for self employed persons

To be eligible for the Bajaj Finserv loans for self employed, the individual should match as per
criteria below.

 Any self employed individual can avail the loan who is Farmers, traders, self-
employed professionals and businessmen.

 The individual should be at least 21 years of age and maximum age is 70 years at
the time of applying for a loan

Documents required are:

 Duly filled Application form.

 Identity Proof- PAN card/Driver’s license/Aadhar card Passport copy.

 The applicant’s signature, Name, photograph and date of birth in the document
provided should be clear and understandable.

 Address Proof: Copy of latest utility bill/ Rental or lease agreement copy along
with a valid copy of utility bill in the name of the landlord/ Last 6 months’ current
account statement. Shop and establishment certificate/Sales tax registration certificate/
Factory registration certificate/ SEBI registration certificate/ Form 18 and ROC Receipt

 Last 6 months bank account statement: These documents seek to verify the
applicant’s income status prior to making the application for loan which also depicts the
individual’s financial picture depicting the credit worthiness of the person.

 IT returns along with audited Balance Sheet and Profit and loss account for the
last two years:

 Photographs: Passport size photographs of all the partners or directors are

required for availing the loan.

 Signature proof: The applicant needs to maintain the same signature throughout
the loan period

 Age Proof: Certificate of incorporation has to be submitted for firms and


 Business Continuity Proof: The document submitted towards business continuity

proof should reveal that the existing business is a minimum 5 years old.

Janakidevi Bajaj Gram Vikas Sanstha (JBGVS) Rural and community development
activities and empowerment of women.

 Rural and community development activities and empowerment of women

The group continued with its rural development activities through JBGVS in Pune, Aurangabad
and Wardha districts of Maharashtra and Sikar district of Rajasthan. JBGVS aims at integrated
development of 75 villages, to be carried out by the villagers themselves, and under their own
leadership by forging partnerships with the Government, local institutions and NGOs.

JBGVS has started working in 90 villages of Wardha district in association with local NGOs on
specific need based projects such as natural farming, sanitation, etc. JBGVS implemented several
programs to strengthen primary education and primary health care, improve socio-economic
conditions, and develop the environment. Out of a total of 39,000 beneficiaries through our
programs, about 75% were from economically weaker sections. Of these, 16,400

beneficiaries belong to socially backward sections (5,900 Scheduled Caste & 10,500 Scheduled
Tribe), 2,600 to Nomadic Tribe and 5,560 to Other Backward Classes. The focus of all the
initiatives has been to provide support to the economically weak and socially neglected
communities, i.e., schedule castes, scheduled tribes, and families below the poverty line.

Primary Education

Primary education has been the major area of concern in the villages. Support has been provided
for infrastructure development in primary schools and anganwadis (pre-primary schools). School
rooms have been repaired and furniture and equipment have been provided to both primary and
pre-primary schools. Special efforts were taken to check malnutrition by conducting awareness
and training programs for mothers on the importance of breast feeding, nutritious food using
local materials, special check -up camps, supporting VCDs, etc.

Non-formal educational programs for children in primary schools were organized by involving
secondary school students from the villages. These programs are aimed at generating interest in
education among children. Through various short programs, teachers and parents were motivated
to actually participate and improve the quality of education. Special programs on health related
issues and HIV/AIDS were organized for adolescent boys and girls in the schools.

Primary Health Care

JBGVS attaches a lot of importance to its community health initiatives and follows the
philosophy ‘Prevention is better than cure’. Programs such as Mother & Child Health (MCH),
health check-up camps, mobile clinic service, hygiene and sanitation programs, etc. were
organized with the help of trained village level health workers.

In the JBGVS villages of Aurangabad, six-health check-up camps were organized for BPL
families only, in association with Kamalnayan Bajaj Hospital, Aurangabad; 305 patients were
examined in these camps. The idea was to screen and detect complicated cases and provide free
treatment at Kamalnayan Bajaj Hospital. 32 patients have been provided this benefit under these
programs, 30 HIV/AIDS awareness programs were organized, in which 1,250 women

Economic development

Agriculture is the main occupation in the villages where JBGVS works. Programs like soil
testing, demonstration plots for improved variety seeds and fertilizers, improved agricultural
practices, natural farming, promotion of horticulture, etc. were implemented in all the project
areas. Various types of farm and non-farm based vocational training programs, such as dairy,
poultry, two wheeler repairing, fashion designing, etc. were organized. A few such programs
were organized exclusively for 34 SC/ST youths.

Of the 34 youths participating in the two-wheeler repairing course, 12 were sent to Om Sai
Service Station, Pune for onsite training. In Wardha, JBGVS has been working in partnership
with Magan. Sangrahalaya Samiti to promote natural farming. This will help reduce the cost of
inputs in agriculture. 750 farmers registered to start natural farming. In Kasi ka bas village of
Sikar district, a revolving fund of Rs. 1,05,000 has been created with support from JBGVS, 90
women have taken loans of Rs. 9 lakh for various income generation activities, like grocery
shops, tea stalls, trading of incense sticks (agarbatti), etc. The focus of all economic development
programs has been to generate gainful self-employment amongst youth and women at the grass-
root level.

Environmental development

Under this programme, soil and water conservation, plantation, and horticulture-based livelihood
development amongst tribal families have been implemented. The Central Government
supported DPAP (Drought Prone Area Programme), started in 2003- 04 came to an end on 31
March 2012. During the year, various treatments like continuous contour trenches, farm bunds,
cement nala bunds, Vanaraibandhara, etc. were carried out on 2,525 Ha. of land to increase

Under the Aamrai project, supported jointly by National Bank for Agriculture & Rural
Development (NABARD) and JBGVS, 448 tribal families were benefited. A total of 393.5 acres
of wasteland was brought under horticulture plantation. In Bhojankheda village, Wardha, water
conservation work was carried out in a nala, which resulted in higher storage capacity (around
6TCM) and increased water level up to 5 ft. in five wells downstream. This will help solve the
drinking water problem in the village and irrigate about 60-70 acres of land.

Social development

Local leadership plays a very important role in the development of villages. JBGVS organized
various types of leadership development programs for local youth, women, and adolescent girls
and boys. Under the youth programme, support was provided for sports competitions and sports
equipment. Support was also provided to promote local culture and celebrate various festivals.
Women Self Help Groups (SHG) were formed and motivated to take up village development
activities in addition to their regular saving and credit programs. 15 new SHGs consisting of 160
women were formed.

Urban development

Samaj Seva Kendra (SSK) is the Urban development wing of JBGVS. It has a total membership
of 1,050 families. SSK provides facilities for social, educational, cultural and economic
development to the residents of Akurdi, Nigadi and adjoining areas. Various types of programs
were carried out, such as pre-primary classes, balbhavan, literacy, tailoring, yoga, karate, tabla
and harmonium, classical and western dance, senior citizen programs, etc.

The summer camp for school children got a very good response, with 374 children attending in
two batches. A library was also started with an initial stock of 550 books on subjects ranging
from fiction and autobiographies to tailoring, nutrition, health care, etc. In future, the library will
be developed as a resource centre, catering to the needs of school children, youth, women and
senior citizens. A few vocational training programs like beauty parlour, basic tailoring, fashion
designing, and mobile handset repairing were also conducted. About 100 youth, mostly women,
benefited from these programs.

 Underprivileged children

There are disparities in the definition of Child itself. The United Nations Convention on Rights
of the Child (UNCRC) defines any individual below 18 years of age as a child. While the
Juvenile Justice Act in our country considers persons below 14 years of age to be children, the
RTE Act 2009 narrows the definition down to persons between six to 14 years (Jha, Praveen

. In this particular study the children of 6-14 years age and studying at

the elementary level education have been taken for consideration.

In ancient and medieval systems, education was a privilege which usually went with elites.

The legend of Eklavya, which figures in the Indian epic, the Mahabharata, illustrates the
association between education and elites with cruel precision. In this story, a tribal boy is openly
denied the opportunity to learn archery from a famous teacher who was appointed to train the
local princes. Refusing to be discouraged, the tribal boy attains mastery by selfpractice, in the
symbolic presence of a clay idol of the famous teacher. When this secret selftraining is found out
one day, the teacher asks the boy to cut off his right thumb and give it as a ritual gift. This way,
the teacher reinstates the social order which allowed only the royal sons to receive archery
instruction of the highest quality. In the study the underprivileged is the synonymous of the
Eklavya, which basically symbolize the deprived by caste, economy and social strata. The study
also includes the gender based deprived children.

 Education

After independence, India inherited a legacy of large-scale illiteracy and lack of proper

provision for education. At the first post-Independence Census of 1951, only 9 per cent of

women and 27 per cent of men were literate. It was resolved by the framers of the

constitution that the new Indian state would endeavour to provide free and compulsory

education to all children up to age 14 by 1960. This goal turned out to be elusive and the

deadline for its achievement has been put back repeatedly in the past 58 years. Even today

this goal remains unfulfilled. Over last two decades the importance of primary education for

all children has come to be accepted as non-negotiable. People have realized the importance

of education in the daily battle for survival of the underprivileged. The remarkable progress

made in different parts of the country and the growing political importance of primary

education, symbolizes a significant departure from the past. From the last decade, more and

more people have been publicly voicing concerns about the situation of primary education in

the country. The District Primary Education Program (DPEP) followed by Sarva Sikhsa

Abhiyan (SSA) has not only augmented available resources for primary education, but has

also given primary education the attention and priority it virtues in government.

In most part, the provision of schooling around the world is determined and financed by

governments. However, in many countries there are other providers of education. Private

education encompasses a wide range of providers including for-profit schools (that operate as

enterprises), religious schools, non-profit schools run by NGOs, publicly funded schools

operated by private boards, and community owned schools. In low income countries excess

demand for schooling results in private supply when the state cannot afford schooling for

all, or when the quality of public schools is unacceptably low. Particularly in higher
income countries, "differentiated" demand leads to a demand for private schooling, as a

sophisticated “quality conscious” clientele demands higher quality and/or different kinds of

schools. Unmet demand for education combined with increased concerns for efficiency,

quality and equity is encouraging the public sector to develop innovative partnerships with

the private sector. In addition, by extending support to these schools and providing

financing, through school grants, per student subsidies, payment of teacher salaries, vouchers

or other means, governments can provide better choices to parents and offer them an

opportunity to more fully participate in their children’s education.

Quality Elementary Education:

Quality education “…an education that is equitable; an education that helps children develop

into independent thinkers, creators and actors; and an education that embodies them with the

spirit of social sensitivity and action” (Premji Azim 2006)xi. To achieve this there is need to

endorse the quality education system at elementary level of education. Quality can be broken

into different constituent parts; for, quality has to be seen as integral to the whole system of

elementary education. It comprises of using the fundamental theories of educationxii i.e.

triangle relationship among the ‘educand’ or the child who is to be educated; the ‘educator’

or the teacher who provides opportunities and organizes learning experiences for child’s

education; and the ‘social setting’.

Elementary Educational frame work in India

Education in India is the joint responsibility of the central and state governments, and

educational rights are provided for within the Constitution (GoI, 1949)xiii. Following the

recommendations of the by National Policy on Education (NPE) (GoI, 1986)xiv, attempts are

being made to adopt a common structure of schooling across the country. In this pattern the

first eight years are termed ‘elementary education’, and this should broadly correspond to the

compulsory education period of 6-14 years of age. The another benchmark attempt in Right
to Education (RTE) Act, 2009 (GoI)xv, which is an act to provide for free and compulsory

education to all children of the age of six to fourteen years.

At the operational level, elementary school is generally divided into two parts with five years

of primary schooling (grades 1-5) followed by three years of upper primary or middle school

(grades 6-8). While this is the general picture found in national level, actual decisions

regarding the organization and structure of school education are the prerogative of state

governments. Consequently, considerable variations are found in the organizational patterns

of schooling across the different states of India. Several states follow patterns in which

elementary schooling consists of seven years, divided into four years of primary followed by

three years of upper primary. Thus, even while grade 8 is part of the compulsory education

age range, it is part of the secondary school cycle. Correspondingly, the length of secondary

schooling also varies, ‘while in 22 states/UTs, secondary stage consists of classes IX and X,

it consists of classes VIII, IX and X in 13 states/UTs’ (GoI,2003a:1)xvi. Variation is also

found at the higher secondary level; in some states the higher secondary stage is part of

collegiate education known as junior college.

CSR in Education for Underprivileged Children

India has had a long history of community and social initiatives being taken by the corporate

bodies. The range of initiatives by companies has been very wide, including religious,

educational, health, and a range of other areas. It has been felt by the development experts

that, if all Indians are educated then it will lead to better health care, population control,

access to better services, poverty reduction etc. Hence, education is a core issue of development.

In the sector of providing education to underprivileged children, some large scale corporate

bodies made their impression on the heart of this core issue. A few initiatives are summarized


For street children, Citigroup is partnering with Akanksha in providing education to a group
of street children (ages 5-18) in an Akanksha Centre in Mumbai.

Statement of the Problem

Education is universally recognized as a central component of human capital. The role of

education as a contributor to economic growth and its impact on population control, life

expectancy, infant mortality, improving nutritional status and strengthening civil institutions

is well recognised. Moreover, the social rates of return on investments in all levels of

education much exceed the long-term opportunity cost of capital. On this ground we can

assume that education should be available to all our children. A highly disturbing aspect of

modern education, in sharp contrast to the ancient system, is the manner govt. schools are

being organised. It appears that most of the innovative methods or experiments or the thrusts

and facilities do not percolate down to the underprivileged children education centre, through

neglect on the part of all concerned. There is a lot of unlearning taking place in these socalled
centers of learning.

While governments are mandated to provide basic services to its citizens, in the face of

competing priorities they are neither, always best placed, nor have the adequate resources to

do so. In this endeavor, the entrepreneurial energies of the private sector also need to be

harnessed in bringing about competitiveness of India’s poor. Based on this core factor some

companies started their quality educational programme for underprivileged children through

their CSR activity. There is a need to document best CSR practices in this area.

Need for the Study

It is widely acknowledged that a significant proportion of children (especially children from

underprivileged backgrounds) either drop out before they reach class V or, even if they

continue to attend school, learn very little. This phenomenon is far more pronounced among
children from the most disadvantaged sections of our society, most of who rely on the

government primary school system. And government primary school system is not relevant

or compressed with Indian cultural heritage. There is a large scarcity of quality education.

Here the ”Quality” focus on empowering children (and their families) with knowledge,

confidence and a collective strength to set priorities for action and help each other. Children

discuss and determine what work they can do and what kind of work is hazardous to their

growth and development. The net result is withdrawal of children from full-time or

hazardous work, while acknowledging the work they do at home, in the farm, in family

occupations and in supporting the family during peak seasons. The quality, content and

relevance of education are brought centre-stage in this approach. Social mobilisation and

community awareness is achieved through the association of children.

Based on these grounds, government alone is not able to solve these problems. There is also

need for private and community involvement. Private sector is doing there business based on

society. Business and society live together. If there is no society, there is no business and vise

versa. Based on this core truth, since the later part of last century, CSR has become a crucial

issue for the companies to survive in the community. Social responsibility is considered a

broader and more urgent duty in many companies. Now it is a win-win situation against the

social obstacle for both corporations and communities.

Yet another allegation is that CSR is just a brand-building exercise. Getting associated with a

cause might create an apparent impact, but that does not generate any tangible profits for the

organisation. While it does help develop their brand and convey to the public that it is a

socially conscientious company, it is a natural fall out and not a deliberate attempt.

Hence it is felt necessary to undertake the present study to study the dynamics of delivery

system of education for underprivileged children by the strong bond relation among

corporate, government and community. And also it has to document the role and
effectiveness of CSR in quality education for underprivileged children.



 To Study the Educational initiatives under Corporate Social Responsibility of the

Sampled Companies.


Sample Size

For questionnaire purpose 75 public and 225 private companies have been

selected. 75 questionnaire were distributed, out of that 70 responses came

from public sector. The 225 questionnaire was given to private sector. Out of

that 212 respondents replied.

For the purpose of study 497 large scale organizations basically covering

public sector and private sector companies in India which belong to different

sectors. The list of companies is given below:

Table 4.1 - Sector-wise 497 Companies

Total No. of
Sectors Companies
Aluminum 3
Auto and Allied (All Auto Types) 52
Banks (All) 38
Cement (Major-Mini and Building) 17
Chemicals, Petrochemicals and Pesticides 18
Computers (Hardware+ Software) 23
Construction & Contracting, Real Estate 15
Engineering and Heavy Engineering 5
Finance,-Housing, General and Leasing 31
Metal, Mineral & Mining 9
Oil Drilling and Exploration 7
Packaging 6
Personal care 9
Pharmaceuticals 23
Power -Transmission and Equipment, Generation &
Distribution 17
Refineries 4
Shipping, Transport & Logistic 3
Steel -(All Types) 17
Telecom-Equipment & Services 4
Textile (All Types) 22
Others 177

Sampling Units

For analyzing the Corporate social responsibility spending, a sample of 497

companies from 21 sectors is collected from the population. For questionnaire, 75

public sector has been choosen. However, 225 private sector companies is choosen

for primary data purpose.

Sector wise Distribution on CSR

For comparing the corporate social responsibility spending as a percentage of Profit

after tax of Public sector companies & Private sector companies a sample of few

Public sector companies & few Private sector Companies is chosen.

To study about the thematic priorities, CSR past & current project, and partners,

approximately 81 corporate foundation data also has been collected.

1. Adani Foundation

2. Aditya Birla Centre for Community Initiatives and Rural Development

3. Alstom Foundation

4. AMM Foundation

5. Amway Foundation

6. Anandana (Coca-Cola India Foundation)

7. Avantha Foundation

8. Axis Bank Foundation

9. Kamalnayan Jamnalal Bajaj Foundation

10. Bharti Foundation

11. Biocon Foundation

12. Bosch India Foundation

13. Cannon India Foundation

14. Cognizant Foundation

15. CRISIL Foundation

16. Cummins Foundation

17. Deepak Foundation

18. DLF Foundation

19. Dr. Reddy’s Foundation (DRF)

20. EdelGive Foundation

21. Essar Foundation

22. Fed Bank Hormis Memorial Foundation

23. Fortis Foundation

24. Glenmark Foundation

25. GMR Varalakshmi Foundation

26. Golden Jubilee Foundation

27. Gramothan Foundation

28. GVK Foundation

29. Havells India Foundation

30. HCL Technologies Foundation

31. Hinduja Foundation

32. H T Parekh Foundation

33. HUL Foundation

34. Hyundai Motor India Foundation

35. ICICI Foundation

36. IDFC Foundation

37. Indiabulls Foundation

38. IndusInd Foundation

39. ING Vysya Foundation

40. IndianOil Foundation*

41. Jaipur Rugs Foundation

42. JM Financial Foundation

43. JSW Foundation

44. Jubilant Bhartia Foundation

45. Lanco Foundation

46. Lupin Foundation

47. Max India Foundation

48. Moser Baer Trust

49. Muthoot Group Foundation

50. Muthoot Pappachan Foundation

51. NALCO Foundation

52. NIIT Foundation

53. NTPC Foundation

54. PepsiCo Foundation

55. PNB Farmers’ Welfare Trust

56. Ramky Foundation

57. Ranbaxy Science Foundation

58. Reliance Foundation

59. Rosy Blue Foundation

60. RPG Foundation

61. Schneider Electric India Foundation

62. Simbhaoli India Foundation

63. Sitaram Jindal Foundation

64. Soham Foundation

65. SRF Foundation

66. Steria India Foundation

67. Suzlon Foundation

68. Tata Chemicals Society for Rural Development

69. Tech Mahindra Foundation

70. Texas Instrument India Foundation

71. Times Foundation

72. Transport Corporation of India Foundation

73. Thermax Social Initiative Foundation (TSIF)

74. Tribhuvandas Foundation

75. Union Bank Social Foundation

76. Vedanta Foundation

77. VLCC Foundation

78. Welspun Foundation for Health and Knowledge

79. Wockhardt Foundation

80. Yes Foundation

81. Zensar Foundation

List of Companies

The performance analysis of the public and private Banks also has been

studied. The 19 Indian Banks (12 Public + 7 Private) are selected on the
following 3 parameters i.e. Market capitalisation, Availability of CSR project

information, Availability of financial information.

Sr. No. Public Banks No. Private Banks
1 State Bank of India 1 HDFC Bank
2 Bank of Baroda 2 ICICI Bank
Punjab National
3 Bank 3 Axis Bank
Kotak Mahindra
4 Bank of India 4 Bank
5 IDBI Bank 5 IndusInd Bank
6 Union Bank 6 Yes Bank
7 Allahabad Bank 7 ING Vysya Bank
8 Andhra Bank
Central Bank of
9 India
10 Corporation Bank
11 Indian Bank
12 UCO Bank

List of Banks

To know the exact status of CSR policy according to 2013 Act, Implementation

through CSR partners, and CSR committee, the collection of 21 pharmaceuticals

sector has been collected

1. Abbott India Ltd

2. Ajanta Pharma Ltd

3. Alembic Pharmaceuticals Ltd

4. Aurobindo Pharma Ltd

5. Biocon Ltd

6. Cadila Healthcare Ltd

7. Cipla Ltd

8. Claris Lifesciences Ltd

9. Divis Laboratories Ltd

10. Dr Reddys Laboratories Ltd

11. Glaxosmithkline Pharma Ltd

12. Glenmark Pharmaceuticals Ltd

13. Ipca Laboratories Ltd

14. Lupin Ltd

15. Novartis India Ltd

16. Pfizer Ltd

17. Sanofi India Ltd

18. Shasun Pharmaceuticals Ltd

19. Sun Pharmaceuticals Industries Ltd

20. Torrent Pharmaceuticals Ltd

21. Unichem Laboratories Ltd.

Justification of Selection of Sample

The selection of the companies are based on huge market share in the country. The

criteria of selection is made on the following basis:

• BSE and NSE listed companies are selected.

• Different CSR practices is being done by these agenies and some have been

awarded for CSR practices by FICCI, ASSOCHAM and Golden Peacock

Awards Committee etc.

• The bases of turnover is an important criteria to select these 500 companies.



Until the mid-1900s, many children with disabilities were secretly concealed by

parents and families as much as possible (Allen & Schwartz, 2001). Parents of children

with easily identified disabilities such as Down syndrome were often counseled to

commit their children to asylums. In instances when parents didn't follow such counsel,

many would hide their disabled children in attics and in back rooms where they wouldn't

be noticed by others (Allen & Schwartz, 2001).

The 1960s brought a focus on de-institutionalizing people with disabilities

(Dettmer, Dyck, and Thurston, 1996). De-institutionalization was a social change that

was supported by The National Association for Retarded Children (currently called ARC,

the Association for Retarded Citizens). The ARC's goal was advocating for people with

retardation and other disabilities. As one outcome of that advocacy, some children with

disabilities began to be educated in public schools (Dettmer et al., 1996).

Legislation and litigation of the 1970s assisted the movement toward ensuring

students a free public education in the least restrictive environment. In 1972, a lawsuit

questioned how students with mental retardation were being educated. In Pennsylvania

Association for Retarded Children (PARC) v. Commonwealth of Pennsylvania, the court

determined three factors that contributed to the movement toward inclusion. Court rulings

stated that (a) all students with mental retardation were entitled to a free public school education;
(b) general classroom settings are preferred to separate, segregated settings;
and (c) school staff should inform parents of students with mental retardation of their

students' educational programming. This case "resulted in a consent-agreement between

the two parties" (Salend, 1994, p. 18). Also in 1972, the Mills vs. Board of Education of

the District of Columbia case determined that students' constitutional rights were being

violated if they were not being granted a free public education. Therefore, a judge

extended the PARC v. Commonwealth of Pennsylvania rulings by stating that all students

with disabilities were entitled to a free public education (Salend, 1994).

Litigation strengthened educational laws that were enacted creating monumental

historical changes for students with disabilities in school settings. In 1973, the U.S.

Congress approved the Rehabilitation Act (PL 93-112). Technically a civil rights law, it

was written to include the commonly referenced section 504. According to Cutler

(1993), section 504 "assures that people with disabilities will not be discriminated against

by reason of disability by any programs or activities receiving federal funds. This means

schools… must provide access with reasonable accommodations to individuals with

disabilities" (Cutler, 1993, p. 239; see also Ferguson & Ferguson, 1998). The second

change came about in 1975 with the passage of the Education for All Handicapped

Children Act (PL 94-142). The act mandated that disabled children be granted a "free

and appropriate public education" (FAPE) in the "least restrictive environment" (Dettmer,

et al., 1996; Ricciato, 2000; Scruggs & Mastropieri, 1996).

The l980s brought considerable attention to and interpretation of "the least

restrictive environment" mentioned in the PL 94-142 mandate. Students with disabilities

who were educated in public schools were often taught in rooms separate from their peers

without disabilities, which created a dual education program within one school setting.

The dual program consisted of a general education program and a special education

program. Teachers' preservice education determined which group of students teachers

were certified to educate. That is, because the dual education programs existed to teach

students with and without disabilities separately, dual preparation programs offered

education courses and job certification to future teachers separately (Semmel et al.,1991).

Concern regarding the number of students being educated in special education

classrooms grew as studies revealed alarming special education statistics. Former

Director of the U.S. Office of Special Education and Rehabilitative Services, Madeline

Will published a position paper stating that many children were being inappropriately

identified as having disabilities and were needlessly being separated for education

programming (Dettmer et al., 1996). Additionally, there were financial concerns

regarding the monetary commitment necessary for educating students in two separate

programs (Dettmer et al., 1996). Therefore, there were efforts to merge the two programs

into one. This merger (known as the Regular Education Initiative (REI) or, by some, as

the General Education Initiative (GEI)) called for students with mild to moderate

disabilities to be dismissed from their special education assignments and placed in

general education classrooms (Semmel et al., 1991). The REI had many proponents

(Biklen, 1985; Gartner & Lipsky, 1987; Stainback & Stainback, 1989). Restructuring

schools in this way led to many changes regarding where students were educated and by

whom. Studies of the Regular Education Initiative revealed that many general education

teachers were assigned to teach students even though they believed that they lacked

adequate training and preparation to do so (Semmel et al, 1991). Advocates of the REI

suggested that special education teachers collaborate and consult with general education

teachers to assist in defining educational goals for students with disabilities (Dettmer et

al., 1996). Collaborative efforts to educate students became an important factor

determining the success of many regular education initiatives (Semmel et al., 1991).

In 1990, an overarching law was passed integrating the original Education for All
Handicapped Children Act and its successors within special education law. This law, PL

101-476, titled Individuals with Disabilities Education Act (IDEA), served to extend

school services to all children from birth through age 21. In addition, this law was crucial

in strengthening the previous law because it reaffirmed that students with disabilities

must be offered a "free appropriate public education" (FAPE) while being taught in the

"least restrictive environment" (LRE). The law stated that appropriate education must be

defined through collaborative efforts of parents, general education and special education

teachers by writing individual education programs (IEP) containing specific measurable

educational goals for students with disabilities (Cutler, 1993).

With the emergence of Public Law 101-476, proponents of the REI asserted that

collaboration was necessary for successfully including students with disabilities in

general education classrooms and encouraged general and special education teachers to

work together to create a full inclusion model (Stainback & Stainback, 1989).

Proponents suggested that the full inclusion model should include collaboration between

general and special education teachers to determine effective teaching strategies to meet

the needs of all students in inclusive classrooms (Dettmer et al., 1996; Lipsky, 1994).

Since IDEA, many school systems have placed students with disabilities in

classrooms with their non-disabled peers with varied results. While some school districts

have found much success with inclusive educational practices (Salisbury, Palombaro, &

Hollowood, 1993; Villa et al., 1992), others have indicated that there is still much work

to be done (Salend & Duhaney, 1999; Scruggs & Mastropieri, 1996). Some studies have

revealed that school districts have not adequately prepared their teaching staff for

implementing inclusive education programs (Guetzloe, 1999). General educators

assigned to teach in such classrooms may be faced with difficulties that could have been

predicted and might have been prevented had adequate professional development been
offered to teachers. If general educators are assigned to educate students with and

without disabilities, yet do not have competent skills to do so, then all students may have

troublesome and unsuccessful school experiences (Guetzloe, 1999).

Teachers' Perceptions of Inclusion

General educators who teach in inclusive classrooms have much to say about

inclusive education. It is important to understand general educators' views because they

have direct experience teaching students with and without disabilities in the same

classroom. General educators can share important insights and considerations that

deserve further attention by those advocating for inclusive education.


Analysis and Finding

Sources of Data

To accomplish the above stated objectives of the study primary and secondary data are taken into
consideration. The primary data has been collected through questionnaires. Twenty four (24)
questions in a structured questionnaire were framed to collect the data regarding CSR policy and
CSR Companies Act 2013.

Primary Data

a) The questionnaire framed for public and private companies, consisted of 24 questions
evaluating various parameters based on the objectives of the study.

b) The questionnaire framed for public sector was given to 75 public sector companies out of
which 70 public companies responded to the questionnaire where as others did not cooperate.
The same questionnaire was given to private sector companies. The total 225 questionnaire was
distributed private companies. Out of 225, only 212 responded to the questionnaire, to evaluate
the various parameter of corporate social responsibility.

Secondary Data

Secondary data are collected mainly from:

a) Annual reports of selected companies

b) Sustainability reports of companies

c) CSR Reports of companies

d) Official websites of companies

e) Reports of surveys by private institutions

f) NGO Box Study report on CSR

g) Blogs on CSR


To make present study more practical, following hypotheses have been framed by the researcher.

H0 Indian companies are not following the CSR policy according to Companies Act


H1 Indian companies are following the CSR policy according to Companies Act


H0 There is no significant difference in CSR policy of Public and Private.

H1 There is significant difference in CSR policy of Public and Private.

H0 There is no significant difference in the corporate social responsibility spending

as a percentage of profit after tax of the Indian companies.

H1 There is significant difference in the corporate social responsibility spending as a

percentage of profit after tax of the Indian companies.

H0 There is no significant difference in the corporate social responsibility spending

as a percentage of profit after tax of the public and private companies.

H1 There is no significant difference in the corporate social responsibility spending

as a percentage of profit after tax of the public and private companies.

H0 There is no significant difference in the corporate social responsibility thematic

priorities and CSR approach of public and private companies

H1 There is significant difference in the corporate social responsibility thematic

priorities and CSR approach of public and private companies

H0 Successful companies don’t values social responsibility and sustainable


H1 Successful companies values social responsibility and sustainable development


Corporate Social Responsibility has many aspects. Companies have been finding various
innovative alternatives to discharge their social responsibility. Education is the sector which is
the most entitled and socially rewarding effort for any corporate to be looked upon to release its
social responsibility. Supporting education at any level will mean, re-energized education sector
which can transform our country into a true knowledge power and realize a future of success and


CSR should be introduced as a subject in all business schools and universities to sensitize the
students about the community at a very young age. In this way, they can take these activities
forward and address the social problems of our country in a better susceptible manner attaching
morals to the performance.

A White Paper (2008): CSR-Towards a Sustainable Future by KPMG IN INDIA

& ASSOCHAM held at 1st International summit at New Delhi, 28-31


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