SHAREHOLDERS APPROVAL FOR CSR ACTIVITIES

To check ad hocism and get more transparency in the system , companies may have to take approval from the shareholders for their philanthropic aspirations.The government has already initiated the process and the New Companies Bill may soon include this condition.

Follow the link below to know more on this

http://epaper.hindustantimes.com/PUBLICATIONS/HT/HD/2011/05/25/ArticleHtmls/Shareholder-approval-key-for-CSR-activities-25052011703002.shtml?Mode=1

Philanthropy in a Big Way

One more Indian has joined the big league of Philontropists. Indian born Vinod Khosla and his wife Neeru have pledged half of their vast fortunes estimated at $1.4 billion (Rs 6,300 crore) to charity .The 56-year-old Khosla is Silicon Valley’s most prominent “green” venture capitalist and a dominant personality in the cleantech community. Follow the link to know more about this this link http://www.hindustantimes.com/Vinod-Khosla-pledges-half-his-1-4-bn-fortune-to-charity/Article1-695443.aspx

Giving Is Growing

Indians since time immemorial have believed in giving , be it in kind or in terms of financial assistance. People have come up a long way moving from charity to philanthropy. Families and individuals are moving from a more traditional model, from large-scale gifts to schools, colleges and hospitals, to a more hands-on model of giving. It is more planned and done in a more professional way now . The mindset of leaving all behind for the next generation is also changing . Now the entrepreneurs are building trusts and happily pledging part of their wealth to charity. The movement is on and the day when India will be a super power in terms of both economic and philanthropic en devours is not very far. As per a 2010 study philanthropic donations in India amount to 0.6% of GDP vis-a vis 2.2% of GDP in U.S. To know more about this go on to the following link.

http://epaper.hindustantimes.com/ArticleBlog.aspx?art=11_05_2011_010_013&mode=1&PublicationID=47