Corporate Social Responsibility (CSR) is a concept whereby organizations serve the interests of society by taking responsibility for the impact of their activities on customers, employees, shareholders, communities, and the environment in all aspects of their operations.
CSR is a Company’s commitment to operating in an economically, socially, and environmentally sustainable manner while recognizing the interests of its stakeholders. CSR is, therefore, closely linked with the practice of Sustainable Development. CSR extends beyond philanthropic activities and reaches out to the integration of social and business goals.
Incture Technologies Private Limited (hereinafter referred to as “the Company”), recognizes the impact it has on community in which it operates and believes that it has an opportunity to change the lives of the community and aims to be a trusted partner contributing to the social, economic and environmental progress of India. As part of its dedicated approach to create economic opportunity in the community in which it operates, the Company has been contributing its time, expertise, and resources to help the community and undertaking a series of locally relevant initiatives.
B. PHILOSOPHY AND VISION
To align the Company’s vision with that of the society and integrate sustainable development of the community and society into the company’s business model.
C. CSR OBJECTIVES
As a responsible corporate citizen, the Company is committed to sustainable development and inclusive growth and has been focusing on issues relating to the environment, healthy living, skill-building, social advancement and promoting gender equality and empowerment of women over the past several years.
Also, the objective is to generate through its CSR initiatives, a community goodwill for the Company and help reinforce a positive and socially responsible image of the Company as a corporate entity.
Whilst the Company will continue to support activities as per Schedule VII of the Act listed below, the Company will focus its efforts on three key areas: i.e., Education, Environment and Prime Minister’s National Relief Fund.
D. CSR ACTIVITIES
To attain its CSR objectives in a professional manner and integrated manner, the company may undertake one or more of the following activities:
i. Eradicating hunger, poverty, and malnutrition, promoting health care including preventive health care and sanitation including contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water.
ii. Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently-abled and livelihood enhancement projects.
iii. Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, daycare centers, and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups.
iv. Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources, and maintaining the quality of soil, air, and water including contribution to the Clean Ganga Fund set-up by the Central Government for the rejuvenation of river Ganga.
v. 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 art and handicrafts.
vi. Measures for the benefit of armed forces veterans, war widows and their dependents, Central Armed Police Forces (CAPF) and Central Para Military Forces (CPMF) veterans, and their dependents including widows
vii. Training to promote rural sports, nationally recognized sports, paralympic sports, and Olympic sports
viii. Contribution to the prime minister’s national relief fund or Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)] or any other fund set up by the central govt. for socio-economic development and relief and welfare of the schedule caste, tribes, other backward classes, minorities and women;
ix. Contribution to incubators or research and development projects in the field of science, technology, engineering, and medicine, funded by the Central Government or State Government or Public Sector Undertaking or any agency of the Central Government or State Government; and Contributions to public-funded Universities; Indian Institute of Technology (IITs); National Laboratories and autonomous bodies established under Department of Atomic Energy (DAE); Department of Biotechnology (DBT); Department of Science and Technology (DST); Department of Pharmaceuticals; Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH); Ministry of Electronics and Information Technology and other bodies, namely Defence Research and Development Organisation (DRDO); Indian Council of Agricultural Research (ICAR); Indian Council of Medical Research (ICMR) and Council of Scientific and Industrial Research (CSIR), engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs)
x. Rural development projects
xi. Slum area development: For the purposes of this item, the term `slum area’ shall mean any area declared as such by the Central Government or any State Government or any other competent authority under any law for the time being in force.
xii. Disaster management, including relief, rehabilitation, and reconstruction activities
1. Areas for undertaking CSR
For undertaking CSR activities and programs, the Company shall give preference to the local areas and the periphery around which it is operating. The Company may also choose to undertake CSR activities and programs at other places in India.
2. Long-term, medium-term, and short-term activities
The Company may, depending on the programs, activities, and needs, decide and undertake long-term, medium-term, and short-term CSR activities and accordingly plan the implementation.
3. Executing Agency
The Company will identify suitable activities and programs for implementation in line with the aforesaid CSR activities of the Company.
These activities and programs shall be implemented by the “Inchara Charitable Trust” created by the company
4. CSR Spend
In a financial year, the Company shall make an effort and endeavor to spend at least 2% of the average net profits of the Company made during the three immediately preceding financial years. In case of an unspent amount necessary explanation to be given in the Board’s Report.
The Annual CSR Budget will be approved by the Board of Directors of the Company upon recommendation by the CSR Committee. Surplus arising out of the CSR activities and programs shall not form a part of the business profits.
5. CSR COMMITTEE
The Board of Directors shall constitute a CSR Committee of the Board of Directors (CSR Committee). The main functions of the CSR Committee shall be:
– Recommend to the Board of Directors any modifications to this CSR Policy
– Annually recommend to the Board of Directors, the amount of expenditure to be incurred
– Institute a transparent monitoring mechanism for the implementation of projects and activities.
The CSR Committee of the Board has devised a “transparent monitoring mechanism” for various CSR Projects undertaken by the Company including the conduct of impact studies of CSR Projects periodically, through an independent third-party agency as and when necessary.
Also, there shall be an internal reporting mechanism as approved by the CSR committee which shall ensure the following:
– Prior approval of the CSR Committee for each spending
– Define Process Owners for each Activity/ different levels within each activity
– Periodic reporting to CSR Committee on the amount spent and activity/ies undertaken
– Impact measurement
– Report consolidation and communication to the Board of Directors
– Annual review of CSR activities by the Board of Directors/ the CSR Committee.
7. AMENDMENTS TO THE CSR POLICY
The Board of Directors of the Company shall have the powers to revise/modify/amend this Policy from time to time, as the Board may think fit, based on the recommendations to be made by the CSR Committee to conform to the revision/amendment, if any, to be made to the CSR Rules by the MCA, under the Act.