CSR MAKING GOOD BUSINESS SENSE IN INDIA: UNDERSTOOD IN INDIA(1)

INDIA(1)

Is CSR new to India? Certainly not! Companies such as those of the Tata and Birla groups have been carrying on activities in this regard long before the concept became a popular one. Despite all this, we find that CSR in India remains in a very nascent stage. A few public sector companies and some in the private sector follow this.

A lack of understanding personnel and inadequately trained staff, non-availability of authentic data and specific information on the kinds of CSR activities, coverage, policy etc. further adds to the hopelessness of the situation. However, CSR is presently coming out of the purview of ‘doing social good’ and fast becoming a ‘business necessity’. Corporates have begun realizing that anything benefiting workers – their community, health and environment is also good for business. Nearly all leading corporate in India are involved in corporate social responsibility (CSR) programmes in areas such as education, health, skill development and empowerment of weaker sections of the society. We find noteworthy contributions from the Tata Group, Infosys, Pepsico, among others.

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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