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It is the Company’s intent to continuously improve its social responsibilities as a good corporate citizen, to make positive impact on the society. The Company recognizes that if there are choices must be made, there will always be a bias toward doing fewer projects with greater impact and focusing initiatives on communities in which the Company lives and operates.
The main objectives of the Company’s CSR policy is to lay down guidelines for sustainable development, to serve the socially and economically weak and underprivileged sectors of society, and to operate and grow its business in a socially responsible way with a vision toward being an environmental-friendly corporate citizen.
Activities that can be undertaken under CSR
- Eradicating hunger, poverty and malnutrition, promoting healthcare including preventive health care and sanitation and making safe drinking water available
- Promoting education, including special education and employment enhancing vocation skills, especially among children, women, the elderly, and the differently abled and livelihood enhancement projects
- Promoting gender equality, empowering women, setting up homes and hostels for women and orphans,setting up old age homes, day care centers and other such facilities for senior citizens, and implementing measures for reducing inequalities faced by socially and economically backward groups
- Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water
- Protection of national heritage, art and culture, including restoration of buildings and sites of historical importance and works of art,setting up public libraries,and promotion and development of traditional arts and handicrafts
- Measures for the benefit of Armed Forces veterans, war widows and their dependents, andtraining to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sports
- Contribution to the Prime Minister’s National Relief Fund or any other fund set up by the Central Government for socio-economic development and relief and welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women; contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government Rural development projects
Activities not to be undertaken under CSR
- Activities undertaken in pursuance of the normal course of business of the Company
- Contribution of any amount directly or indirectly to any political party
- Activities that benefit only the employees of the Company and their families
Modalities of Execution of the CSR Program and Implementation
The CSR activities will be carried out directly or indirectly at the Registered Office, in and around the areas in which the Company has projects, and at its subsidiaries and associates. However, this shall not bar the Company from pursuing its CSR activities in any other areas.
The Corporate Social Responsibility Committee will recommend the level of expenditures to be incurred on CSR activities and will monitor and modify the CSR policy of the Company as required from time to time. The Corporate Social responsibility Committee shall institute a transparent monitoring mechanism for implementation of CSR projects or activities undertaken by the Company.
The Board of Directors of Silver Touch Technologies Limited shall monitor and ensure that appropriate CSR activities are undertaken by the Company.
The Company shall include a separate disclosure in its Annual Report on the implementation of CSR Activities and the amounts spent on them.
The above guidelines form the framework around which CSR activities will be undertaken. The Company will review the policy from time to time and make suitable modifications, as may be necessary.