Ministry of Corporate Affairs has recently notified rules for Corporate Social Responsibility Consid...........

Governance Issues Corporate Governance

Ministry of Corporate Affairs has recently notified rules for Corporate Social Responsibility. Consider the following statements in this context.

1. Contributions to political parties will be counted as CSR activity

2. Unutilized funds from CSR funds can be utilized as profits of companies

3. CSR activities can be carried out in overseas locations of companies

Which of the statements mentioned above is Not correct?.

1 only

2 and 3

3 only

1, 2 and 3

छोटे Courses बड़े Results

Master Corporate Governance

Prepare through Micro-courses

Try Now

Explanation:

All are correct.

Corporate social responsibility is a form of corporate self-regulation integrated into a business model. CSR policy functions as a self-regulatory mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards and national or international norms. With some models, a firm's implementation of CSR goes beyond compliance and statutory requirements, which engages in "actions that appear to further some social good, beyond the interests of the firm and that which is required by law".