Agencies implementing corporate social responsibility programmes for companies will have to register with the Ministry of Corporate Affairs (MCA) and be assigned identification numbers to better monitor their project progress claims, reports The Financial Express.After registration, the agencies will have to upload details of each project publicly online and provide regular updates. The purpose is not to “micro-manage or regulate, but make it a very transparent system,” the paper quoted an official as saying.MCA already issues identification numbers to company directors. The Centre on December 2 launched a data bank of independent directors, to serve as a ‘comprehensive repository’, along the lines of which the CSR initiative may be planned.Close The increased scrutiny comes on the back of companies claiming large sums spent on CSR and availing tax benefits against these actions. In fact, the national CSR portal shows total expenditure on activities in FY18 … [Read more...] about Agencies implementing CSR may get identification numbers to improve transparency
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