New Delhi – Bajaj Finance Ltd spent Rs 4.20 crore to address issues of child protection, health and nutrition in vulnerable community through Child Rights and You (CRY), the implementing agency in the states of Maharashtra and Rajasthan under Corporate Social Responsibility (CSR).
The Indian legislature also provided the Juvenile Justice (Care and Protection of Children) Act, 2015 which is India’s fundamental law in dealing with children in need of care and protection. The Act caters the needs through care, protection, development, treatment, social reintegration, through child-friendly approach by addressing matters in the best interest of children.
Furthermore, the company spent the total of Rs 56.78 crore on CSR activities as against mandatory expenditure of Rs 56.59 crore in FY2018-19.
The average net profit of the company for last three financial years prior to FY2019 is Rs 2,829.63 crore.
The company tries to identify sustainable projects which benefits the society over long periods like educate for self-reliance and growth, promote health, and encourage self helps.
The CSR Committee of te company was constituted by the Board and comprises Rahul Bajaj as chairman, Nanoo Pamnani and Sanjiv Bajaj as the other members.
The Company believes that activities should be preferably focused around locations where the company has its presence and hence can effectively guide, monitor and implement specific projects.
Bajaj Group implements many CSR initiatives of substantial value through its Group Charitable Trusts operating at various locations in the country.