4. Corporate Social Responsibility
o Socio-economic CSR activities by the Oberoi Realty during COVID 19.
The world has been facing COVID19 pandemic. The societal and economical challenges have
risen. Many firms have
diverted their CSR funds for noble causes to resolve this situation.
Find out various CSR activities for The Oberoi Realty and how these activities have
addressed COVID related challenges of Society.
o Major CSR activities by the Oberoi Realty in general.
Students also need to identify all the CSR practices of the Oberoi Realty. In the past 3 years, what kind
of CSR activities were performed by the company. How these activities have benefited the
society at large.
Answers
Answer:
hope it would be helpful for u
Explanation:
The covid-19 - the infectious disease triggered by coronavirus has been considered as global pandemic by the World Health Organisation (WHO). This contagious disease tremendously disrupted the socio-economic circumstances of the whole world.
Social distancing plays a pivotal role in order to mitigate the spread of this deadly infection. The Government of India and State governments announced lockdowns throughout the country in March 2020 in order to promote social distancing, which basically directs the public to maintain distance both socially and physically.
Even extended lockdowns further worsen economic troubles, but Social Distancing by means of lockdowns is the only weapon that can destroy the spread of this transmittable disease.
Most of the companies in Indian economy are playing significant roles in creating awareness of social distancing as an aid to mitigate the spread of this deadly infection – covid-19.
Here, comes the importance of Corporate Social Responsibility (CSR), which plays a crucial role in the age of this pandemic covid-19, where people are trying their level best to get through this tremendous challenging time. CSR is a “self-regulating business model” that implies the procedures of interaction by a company with its stakeholders and the general public at large, creating a scenario of being socially responsible.
As per Section 135 of Companies (CSR) Rules 2014 and Schedule VII of Companies Act 2013, every company having net worth of Rs 500 crores or more, or turnover of Rs 1,000 crore or more, or net profit of Rs 5 crore or more during the immediate preceding financial year, must have a CSR committee and spend at least 2% of the average net profits earned during three immediate preceding financial years to CSR activities.
The Government of India is also inspiring the companies to provide social support in this age of covid-19. As per report of the Ministry of Corporate Affairs dated March 23, 2020, all expenditures incurred on activities related to covid-19, will be added as the permissible avenues for CSR expenditure.
In the present era of covid-19, it has been observed that some companies are performing CSR activities by promoting social awareness for social distancing. The most significant contribution has been made by Mc Donald’s, Audi, Coca-Cola, Volkswagen and many more. The MC Donald’s company sent the message to the society by bifurcating the logo ‘m’ divided into two parts n n.