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Tag: #India

  • Binance Charity donates Rs 3.3 crore for urgent Assam floods relief

    Binance Charity donates Rs 3.3 crore for urgent Assam floods relief

    Binance Charity, the philanthropic arm of cryptocurrency exchange Binance, said Thursday it has donated Rs 3.3 crore to Goonj‘s Rahat Initiative to provide urgent Assam floods relief, as the northeastern Indian state grapples with its worst flooding in more than six decades.

    The death toll from the floods has climbed to 105, with more than 1.2 million people across 25 districts and 2,734 villages affected at various stages this year, according to the latest official reports. Earlier in August, 349 villages in Golaghat, Sivasagar, Charaideo, Bajali, Dhemaji, Sonitpur and Jorhat districts were reported affected.

    The urgent Assam floods relief funding will go toward essential supplies including household items, hygiene kits and tarpaulins, distributed according to the needs of affected communities.

    In a statement, Binance Charity said the contribution is expected to reach 27,500 families across the flood-hit districts, supporting both immediate relief and longer-term recovery efforts.

    “Our thoughts are with everyone affected by the devastating floods,” said SB Seker, Head of APAC at Binance. “In times like these, it is crucial that communities and organizations come together to support those most in need.

    By working with Goonj’s ‘Rahat Initiative,’ we hope our contribution will provide urgent relief on the ground and help families begin the long journey of rebuilding and recovering.”

    Anshu Gupta, founder of Goonj, said the scale of loss across Assam this monsoon season has been staggering, with nonstop rains forcing residents into makeshift shelters and destroying months of stored grain and livelihoods overnight.

    He said the support would help the organization move faster in delivering relief material to hard-to-reach districts while sustaining a longer-term presence during the recovery phase.

    Goonj has also opened a public fundraiser for individuals wishing to contribute directly to the Rahat Initiative’s flood response in Assam.

  • HCLFoundation marks landmark dreen drive for 50 years

    HCLFoundation marks landmark dreen drive for 50 years

    HCLFoundation, which drives the corporate social responsibility agenda of HCLTech in India, said on Tuesday it marked the 50th anniversary of HCL Group with a landmark environmental drive, planting 50,000 native saplings and organizing clean-up campaigns at 50 beaches nationwide.

    The initiatives, spread across 10 states, brought together HCLTech employees and their families, nonprofit partners, women’s collectives, youth groups and community members, HCLFoundation said in a statement.

    The drives form part of HCLFoundation’s broader sustainability push to strengthen ecosystems, conserve natural resources and encourage community participation in environmental stewardship, the organization said.

    HCLFoundation said it has greened 74,000 acres of land to date, bringing the area under community management, while more than 155 billion liters of water have been harvested, supporting biodiversity and bolstering water security in some of India’s most water-stressed communities.

    As part of its coastal conservation work, the Foundation said it has planted more than 181,000 saplings of terrestrial, mangrove and shelter belt species and collected over 120,800 kg of ghost nets and marine debris to date.

    “As we celebrate 50 remarkable years of HCL Group, we are reminded every day that growth and progress are not separable from a deep commitment to a sustainable planet and resilient communities,” said Dr. Nidhi Pundhir, Director, HCLFoundation.

    “We believe that meaningful change is achieved when communities come together with a shared purpose, and we are grateful to our employees, families, partners and volunteers for joining us in contributing to a greener, cleaner and more sustainable future.”

    HCLFoundation delivers HCLTech’s corporate social responsibility agenda in India, investing in long-term programs focused on education, grassroots sports, health and sanitation, skill development and livelihood, environment, and disaster risk reduction. The Foundation said it has positively impacted more than 8.5 million lives to date.

    HCLTech is a global technology company with more than 223,000 employees across 60 countries, offering services in AI, digital, engineering, cloud and software. The company reported consolidated revenues of $14.8 billion for the 12 months ended June 2026.

  • Muthoot Finance hikes CSR spend to Rs 174 crore for FY27

    Muthoot Finance hikes CSR spend to Rs 174 crore for FY27

    Muthoot Finance, India’s largest gold loan non-banking financial company, said on Monday it will boost its Corporate Social Responsibility (CSR) spending to Rs 174.03 crore for fiscal year 2027, extending programmes in healthcare, education and housing to underserved communities nationwide.

    The Muthoot Finance CSR outlay follows FY26 spending of Rs 106.42 crore, which the company said reached approximately 3.37 million beneficiaries through initiatives spanning education, healthcare, livelihood support, community development and sports promotion.

    “At Muthoot Finance, we believe sustainable growth must go hand in hand with meaningful social impact,” Managing Director George Alexander Muthoot said in a statement.

    He said the FY26 results reflected the company’s commitment to underserved communities through healthcare, education, housing and social inclusion programmes.

    Education remained a central focus of the Muthoot Finance CSR strategy, with flagship programmes including the Muthoot M. George Excellence Awards, higher education scholarships and the Muthoot Shiksha Jyothi initiative supporting nearly 11,900 students, including first-generation learners, the company said.

    Muthoot Finance has also established several educational institutions, including Sanskara School in Kochi, the Muthoot Institute of Technology and Science, and the newly launched Kalaivani School in Tamil Nadu.

    On healthcare, the company said its Muthoot Snehasraya programme and related interventions benefited more than 100,000 people in FY26 through medical outreach, rehabilitation support and community healthcare services.

    The company’s housing initiative, Muthoot Aashiyana, has built more than 270 homes for vulnerable and disaster-affected families since its 2018 launch, providing shelter and stability to underserved households, Muthoot Finance said.

    Muthoot Finance also expanded its Soundscape Project, which provides digital hearing aids to children with hearing impairments, reaching 267 beneficiaries across Kerala, Hyderabad and Mumbai.

    Separately, the company’s prison rehabilitation programme, Radio Parvaaz, supports emotional wellbeing and informal learning among inmates, alongside initiatives for children of incarcerated parents.

    Other community programmes included Box of Hope for fisherwomen’s livelihoods, a maritime safety programme for coastal communities in Tamil Nadu, and Pedal for Progress, which distributes bicycles to tribal students.

    Deputy Managing Director George Muthoot George said the company aims to move beyond addressing immediate needs toward empowering communities for long-term self-reliance.

  • CSR Social Stock Exchange: India opens 10% investment window for firms

    CSR Social Stock Exchange: India opens 10% investment window for firms

    The corporate affairs ministry has opened a new funding channel for nonprofits, allowing companies to direct up to 10 per cent of their mandatory corporate social responsibility spending into zero coupon zero principal instruments listed on the Social Stock Exchange, in a move aimed at deepening transparency in social sector financing.

    The amendment, effective immediately, inserts the subscription to such instruments into Schedule VII of the Companies Act, 2013 — the schedule that governs permissible CSR activities for profit-making companies required to spend at least 2 per cent of their three-year average net profit annually on social causes.

    Under the revised CSR Policy Rules, 2014, definitions for both not-for-profit organisations and zero coupon zero principal instruments have been formally introduced for the first time, providing regulatory clarity to companies seeking to deploy funds through the Social Stock Exchange.

    Not-for-profit organisations will be able to issue these instruments through the Social Stock Exchange in accordance with regulations set by the Securities and Exchange Board of India, the ministry said in a statement on Friday.

    Unlike conventional bonds, zero coupon zero principal instruments carry no interest payments and no repayment of principal, functioning instead as a regulated grant or social investment vehicle designed to fund public welfare projects.

    “It helps in furtherance of a transparent and credible mode of funding CSR projects by companies and enables social enterprises to access a wider pool of capital,” said Anshul Jain, Partner Regulatory at PwC India.

    The 10 per cent cap on CSR Social Stock Exchange investments per financial year is intended to balance innovation with fiscal discipline, ensuring core CSR commitments remain intact while creating fresh pathways for social capital mobilisation.

    The Social Stock Exchange, established under SEBI oversight, is designed to bring market discipline and disclosure standards to social sector funding — a segment historically dominated by opaque grant-making and bilateral philanthropy.