CSR INTRODUCTION

Corporate social responsibility refers to a responsibility that a company has towards its society. It’s a
model which helps to be socially accountable to COMPANY ITSELF AND stakeholder and the public.
CSR includes economic, social and environmental aspects also. The company should ensure that
during its ordinary course of business it should focus on enhancing the society and the environment.
It is a broad concept and can take forms depending upon a company and industry.

The concept of it was introduced in companies (csr) rules 2014 under section 135 in companies’ act
2013. India was the first country to introduce it statutory for all the public and private companies.

RIL INTRO AND HISTORY.

It is a private sector company being one of india’s largest and profitable company. It has been a
global player by establishing leadership positions. The motto of the company is “growth is life”.
Reliance begun as textiles and polyester company and has now integrated as a significant global
player across various services such as energy, materials, retail, entertainment and digital services.

History

In 1957, dhirubhai ambani from a small 500 sq. ft. office in mumbai started a yarn trading business
with a dream of establishing India’s largest co.

Reliance created history in 1957 with IPO by introducing equity cult in india.

Reliance set up mill in naroda.

In 1991, reliance became largest producer of polyester with hazira plant stream.

In a record of 36 months ril undertook the world’s largest grassroots refinery in 2000.

Ril bought revolution in indian mobile telephony by entering the info comm business in 2002.

It was the first and only private company to be listed in fortune global 500 list in 2004.

Objective of study

To know about the concept of CSR in detail

To know the implications of CSR by the RIL co.

To study how CSR has helped businesses – in relation to ril co.

Need of the study

The study is required so as:-

To gain understanding about how CSR is followed in reality.

To understand practical implications of CSR and impact on business

To understand how CSR has helped in developing country or contributing to society in different
ways.

Detail of study

CSR meaning - Corporate social responsibility refers to a responsibility that a company has towards
its society. It refers to the positive impact bought by a business to the society.

Definition – “Corporate Social Responsibility is the continuing commitment by business to behave

ethically and contribute to economic development while improving the quality of life of the
workforce and their families as well as of the local community and society at large.”

PURPOSE OF CSR

To help in development of societies and overall nation.

To reduce the wastage of resources by the companies.

To help companies understand their duties towards society

To help companies contribute towards society.

CSR in india.

The first country to make CSR mandatory in its act or law was INDIA.

In April 2014, CSR was introduced under section 135 of companies act 2013, under companies(csr)
rules 2014.

Companies have to spend 2% of their average net profits of 3 yrs towards CSR if their net worth is or
exceeds rs. 500 cr or annual turnover is of rs. 1000 cr. Or more with net profit of rs 5 cr. Or more .

Non-compliance

In case of non- compliance by companies

Penalty – Rs. 50000 – Rs. 25 lakh

Imprisonment to director – upto 3 years

Fine – Rs. 5 lakh

Trend in india

Increased due to mandatory rules and regulations of the act.

Spending towards CSR in 2018 compared to 14- 15 increased by 47%

Contribution approx – Rs. 7536 CR.

Estimated range of CSR contribution in FY 19-20 is 97-98%.

Benefits of CSR

It help people gain knowledge about a company leading to a better image.

It also helps build good relationship with customer and help increase customer loyalty.

It can make employees happy and help retain them which helps in retaining talent and also attract
customers.