Infosys to Contribute Rs. 240 Crore Towards CSR

0
140

[Seminar Theme: Understanding Indian CSR Law 
Venue: Hotel Babylon Inn, Jail Road, Raipur, Chhattisgarh
Date: August 9, 2014 (9:00am to 4:00pm) 
Visit for Complete Detail : www.seminar.indiacsr.in
Call for Registration: 9981099555 or write conference@indiacsr.in] advt

 

BANGALORE: Infosys, India’s second largest IT firm, on Friday said it will contribute Rs. 240 crore this fiscal year to its philanthropic arm – Infosys Foundation – for funding corporate social responsibility (CSR) activities.
The Bangalore-based firm has already contributed $8 million (Rs. 48 crore at 1 dollar = 60 rupees) to Infosys Foundation in the first fiscal quarter than ended on June 30, 2014.

infosys“It will work out to around Rs. 240 crore. As of now, we have contributed Rs. 48 crore in the first quarter,” Infosys chief financial officer Rajiv Bansal told reporters in Bangalore.

Infosys is one of the first Indian companies to contribute to CSR activities as per the New Companies Act.

Under the New Companies Act, large companies need to spend at least 2 per cent of their average net profit for immediately preceding three financial years on CSR activities.

“We are happy to be fulfilling the social responsibility of Infosys. The Infosys Foundation creates opportunities and strives towards a more equitable society,” Infosys chief executive and managing director S D Shibulal said.

Established in 1996, Infosys Foundation works in the areas of healthcare, education, culture, destitute care and rural development.

The foundation had taken up relief work at various calamity-affected areas of Tamil Nadu, Andaman Islands, Kutch, Orissa and Andhra Pradesh. It has also set up more than 50,000 school libraries across Karnataka.

(Press Trust of India)

Comments

comments

SHARE
Previous articleThe Coca-Cola India Foundation Call for Proposals for Grant
Next articleDr. Bhaskar Chatterjee is the Key Note Speaker at Seminar on Indian CSR Law, Raipur, 9 August 2014
India CSR Network
India CSR Network is India's biggest and most trusted news portal in the domain of CSR & Sustainability. India CSR welcomes stories, statements, updates, reports on issues that interest you. Feedback, comments will make it more purposeful and resourceful. It is designed and maintained by India CSR Group. Contents are non-fiction. Though all efforts have been made to verify the accuracy, the same should not be construed as a statement of law or used for any legal purposes. In case of any ambiguity or doubts, readers are advised to verify with the source(s). Statement, articles, views and contributions can be sent to editor@indiacsr.in