ECGC Limited has adopted the CSR Policy as per the guidelines issued by the Department of Public Enterprises and has a Board-approved CSR Policy.
NEW DELHI (India CSR): ECGC Limited, a prominent government-owned company, has demonstrated its dedication to corporate social responsibility (CSR), spending a significant Rs. 10.86 crores on CSR activities during the fiscal year 2021-22. The company, guided by the Department of Public Enterprises (DPE), follows a CSR policy that requires spending at least 2% of its last three years’ average net profit annually as per Section 135 of the Companies Act, 2013.
CSR stands for Corporate Social Responsibility, which is a way for companies to contribute to the social and environmental welfare of society.
Allocation for Ongoing Projects and Swachha Bharat Kosh
In addition to the aforementioned expenditure, ECGC has allocated Rs. 0.38 crore to the Unspent CSR account for ongoing projects, and contributed Rs. 0.09 crore to the Swachha Bharat Kosh (SBK) for FY 2021-22.
Scope of ECGC’s CSR Initiatives
ECGC’s CSR initiatives encompass a broad spectrum of societal needs such as health, nutrition, primary education, skill development, livelihood assurance, environment, sustainable development, women empowerment, strengthening services for the differently abled, and support for the Scheduled Tribe community.
CSR Implementing Partners
The company has collaborated with multiple implementing partners for its CSR activities. The major implementation partners for CSR activities are the Office of the District Collector, Rajgarh, Madhya Pradesh (Aspirational District), the TATA Institute of Social Sciences (TISS), Vivekananda Kendra, Snehalaya, SOS Children’s Village of India, Voice of World, Development Education Empowerment of Disadvantaged in Society (DEEDS), Concern India Foundation, Shanti Seva Nidhi, Rojavanam Trust, Shri Chaitnya Seva Trust, Aakar-Mumbai University, Anirudda Academy of Disaster Management, SUADHA (Social Upliftment and Development of Human), CKS foundation, NIMHANS, Christian Medical College, Parichay Foundation and Cancer Patients Aid Association.
Key CSR Initiatives in 2021-22
Several key initiatives in the fields of education, health care, nutrition, skill development, and support for the differently abled were undertaken during the year. This included the distribution of scholarships, running community study centres, and providing free primary medical assistance, along with contributions to the Armed Forces Flag Day Fund, Clean Ganga Fund and Swachh Bharat Kosh.
Monitoring of CSR and Sustainable Development Activities
The Company’s CSR & Sustainable Development (SD) activities are monitored by a dedicated committee, which was re-constituted three times in FY 2021-22. Chaired by M. Senthilnathan, CMD, the Committee on CSR & SD held five meetings during the fiscal year to evaluate and guide the company’s CSR & SD projects.
About ECGC Limited
ECGC Limited is a government-owned company in India. ECGC Limited provides credit risk insurance and related services for exports. It was established in 1957 with the objective of promoting exports from the country. It offers various insurance products to exporters and banks to protect them against commercial or political risks2. It also provides an export factoring facility for the MSME sector.
