Despite not required to spend under CSR, private sector bank IDBI Bank had donated used computers to government and municipal schools for the benefit of students in the 2019-20 fiscal. According to the Companies Act, 2013, the companies are required<\/p>\n\n\n\n
Despite not required to spend under CSR, private sector bank IDBI Bank had donated used computers to government and municipal schools for the benefit of students in the 2019-20 fiscal.<\/p>\n\n\n\n
According to the Companies Act, 2013, the companies are required to spend at least 2 percent of their average net profits made in the preceding three years on corporate social responsibility (CSR).<\/p>\n\n\n\n
In its 2019-20 annual report, IDBI Bank said there was no requirement for the bank to incur any spends under CSR for the 2019-20 fiscal because it had suffered a net loss in the preceding three years.<\/p>\n\n\n\n
However as a conscientious corporate citizen, the bank had donated used computers to government and municipal schools for the benefit of the students as a part of its CSR initiatives during the reporting year.<\/p>\n\n\n\n
Going forward, the bank should be able to do more CSR activities with improvement in its performance.<\/p>\n\n\n\n
For the first quarter of 2020-21 financial, the IDBI Bank today reported a standalone net profit of Rs 144.43 crore as against a net loss of Rs 3,800.84 crore in the year-ago.<\/p>\n","protected":false},"excerpt":{"rendered":"
Despite not required to spend under CSR, private sector bank IDBI Bank had donated used computers to government and municipal schools for the benefit of students in the 2019-20 fiscal. According to the Companies Act, 2013, the companies are required Despite not required to spend under CSR, private sector bank IDBI Bank had donated used […]<\/p>\n","protected":false},"author":1,"featured_media":184,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/dev.csrvoice.com\/index.php\/wp-json\/wp\/v2\/posts\/185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.csrvoice.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.csrvoice.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.csrvoice.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.csrvoice.com\/index.php\/wp-json\/wp\/v2\/comments?post=185"}],"version-history":[{"count":1,"href":"https:\/\/dev.csrvoice.com\/index.php\/wp-json\/wp\/v2\/posts\/185\/revisions"}],"predecessor-version":[{"id":764,"href":"https:\/\/dev.csrvoice.com\/index.php\/wp-json\/wp\/v2\/posts\/185\/revisions\/764"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.csrvoice.com\/index.php\/wp-json\/wp\/v2\/media\/184"}],"wp:attachment":[{"href":"https:\/\/dev.csrvoice.com\/index.php\/wp-json\/wp\/v2\/media?parent=185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.csrvoice.com\/index.php\/wp-json\/wp\/v2\/categories?post=185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.csrvoice.com\/index.php\/wp-json\/wp\/v2\/tags?post=185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}