CSR MAKING GOOD BUSINESS SENSE IN INDIA: SOCIO-ECONOMIC PROFILE(3)

ECONOMIC PROFILE(3)

Metal czar Anil Agarwal’s aggression is not limited to only business. With a mission to impact the lives of over 2.5 million under-privileged children; Vedanta Resources group has already strengthened its corporate social responsibility (CSR) programmes across all operating states in India. With an investment of Rs 186.50 crore in CSR in the last 4 years, the Group is ready to spend another Rs. 125 crore in 2009-10.

Mr. Agarwal said that ‘Kalahandi is one of the most underdeveloped districts in India, suffering from child malnutrition, high infant mortality rates and lack of schooling and healthcare. We are committed and sensitive to the social and cultural aspects of the region and would do whatever is required to meet the needs of local people,’ .We believe with an understanding of each other’s needs and challenges, we the company, government and civil society, are increasing opportunity for collaboration, innovation and sustainable results. We are striving collectively to bring long-term qualitative developments in the communities in kalahandi district by: Building the people, proactively engaging them and give an opportunity to the people to lead and leave their life in a better way.

Representative APR 391%

Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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