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Rail Sahyog - Portal for private firms to donate CSR funds launched
Company law in April 2014 mandated that businesses with annual revenues of more than Rs 10 billion give away 2 percent of their net profit to charity.
New Delhi: Indian Railways on Tuesday launched Rail Sahyog –a dedicated portal through which private companies can donate their CSR funds to sponsor amenities for passengers on station premises.
The companies can use their corporate social responsibility (CSR) funds to build toilets, provide free Wi-Fi with kiosks for e-services for citizens at stations, plastic bottle crushing machines, steel benches and dustbins and other amenities for passengers at stations.
These amenities will bear names of the companies that come forward to donate through CSR funds.
Corporate orgations or PSUs opting for contribution will have to submit their application on the portal. Railways will use the funds on first come first serve basis.
It may be noted that a change in the company law in April 2014 mandated that businesses with annual revenues of more than Rs 10 billion give away 2 percent of their net profit to charity.
To encourage participation of private companies and public sector undertakings in identified works/activities to be done under CSR in the railways, a policy framework had been put in place by the national transporter in 2016.
(Reporter Inputs: Brahm Dubey)