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Short Notes On Coal India LTD CSR Policy

The Corporate Social Responsibility (CSR) policy of Coal India Limited (CIL), effective from April 8, 2021, aims to integrate business with social processes and support government welfare efforts related to coal mining. The policy mandates fund allocation based on net profits or coal production, with a focus on project-affected areas and specific spending guidelines. It establishes a Board-level CSR Committee for project approvals and monitoring, ensuring compliance with statutory provisions and public disclosure of CSR activities.

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131 views5 pages

Short Notes On Coal India LTD CSR Policy

The Corporate Social Responsibility (CSR) policy of Coal India Limited (CIL), effective from April 8, 2021, aims to integrate business with social processes and support government welfare efforts related to coal mining. The policy mandates fund allocation based on net profits or coal production, with a focus on project-affected areas and specific spending guidelines. It establishes a Board-level CSR Committee for project approvals and monitoring, ensuring compliance with statutory provisions and public disclosure of CSR activities.

Uploaded by

nareshhembram60
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We take content rights seriously. If you suspect this is your content, claim it here.
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www.MINEPORTAL.

in

PAPER-I COMMON
SYLLABUS PERSONNEL

SYSTEM MINE PORTAL


E AND M
COAL INDIA NON-
EXECUTIVE TO
EXECUTIVE EXAM

MATERIAL
MANAGEMENT EXCAVATION

CIVIL

CALL/WHATSAPP- 8804777500
COAL INDIA LIMITED CORPORATE SOCIAL
RESPONSIBILITY (CSR) POLICY OF CIL W.E.F.
08.04.2021

CLICK ON THE LINKS TO JOIN VARIOUS MINING


EXAM PREPARATION TELEGRAM GROUP

COAL INDIA NON-EXECUTIVE TO EXECUTIVE WHATSAPP GROUP


WWW.MINEPORTAL.IN MINING EXAMS TEST SERIES CALL/WHATSAPP-8804777500

Corporate Social Responsibility (CSR) policy of CIL w.e.f. 08.04.2021


Introduction to CSR Policy of CIL
CSR is a strategic tool for sustainable growth at Coal India Limited
(CIL).
CSR integrates business with social processes.
Even before CSR became a global concern, CIL had a Community
Development Policy covering 8 km around its projects.
The CSR policy aligns with the Companies Act 2013 and government
guidelines.
Objective:
To establish CSR as a key business process.
To supplement government welfare efforts related to coal minings
environmental and social impacts.
Fund Allocation for CSR:
For subsidiaries: Higher of (a) 2percent of the average net profit (last
three years) or (b) Rs 2 per tonne of coal production (last year).
For CIL HQ: Higher of (a) 2percent of CILs standalone net profit (last
three years) or (b) Rs 2 per tonne of coal production of profitable
subsidiaries.
Any unspent or excess CSR funds must be accounted for as per
statutory provisions.
Selection of CSR Projects & Activities:
Focus on Project Affected Areas (PAAs) and within a 25 km radius of
mining projects.
80percent of CSR funds must be spent within this radius,
while 20percent can be used in the state of operation.
CIL HQ may finance projects where subsidiaries face fund shortages.
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WWW.MINEPORTAL.IN MINING EXAMS TEST SERIES CALL/WHATSAPP-8804777500

Activities must align with Schedule VII of the Companies Act.


Institutional Arrangement:
CIL and subsidiaries (with net worth Rs 500 croreplus, turnover Rs
1000 croreplus, or net profit Rs 5 croreplus) must form a Board-level
CSR Committee.
CSR Committees ensure policy implementation, review, and progress
monitoring.
Approvals for CSR projects:
Rs5 lakh & below: Area General Managers.
Rs5 lakh - Rs1 crore: CMD of the subsidiary.
Above Rs1 crore: Subsidiary Board.
Above Rs10 crore: CIL Board.
Implementation Guidelines:
CSR projects should be completed within 2 years (max. 3 years
allowed).
Can be executed departmentally or through implementing agencies.
MoUs required for projects above Rs5 lakh.
Need assessment should be conducted before project initiation.
Impact assessment for major projects is mandatory.
Monitoring & Reporting:
Real-time data tracking of CSR expenditures and beneficiaries.
Utilization certificates must be submitted by implementing agencies.
CSR audit by external auditors for select projects.
Administrative overheads limited to 5 percent of CSR expenditure.
Public disclosure of CSR projects on company websites.

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WWW.MINEPORTAL.IN MINING EXAMS TEST SERIES CALL/WHATSAPP-8804777500

Compliance & Amendments:


Strict adherence to statutory provisions, rules, and government
directives.
If new government regulations conflict with company
policy, statutory regulations will prevail.
Policy updates in accordance with Companies Act 2013 and
amendments.

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