Indicators sustainable development

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

Arvind Ronta The government’s consistent push for financial inclusion and more digital payments has aided the cashless agenda in India. Debit cards have become a much preferred cashless payment method for a large chunk of people. Over the last four years, the number of debit cards has more than doubled and is expected to cross one billion in the near future. In fact, the low credit card penetration, characteristic of the Indian market, is further dwarfed by the sheer size of debit cards in the country. Does that mean that Indian consumers do not have an appetite for credit? Certainly not.Current consumer credit scenarioClose India has an increasingly aspirational and young population. In the last five years, retail loans have grown at a compounded annual rate of 16 per cent, buttressed by an expanding and ambitious middle class. The value of credit card transactions at point-of-sale (POS) terminals exceeds that of debit cards, especially as big-ticket purchases happen … [Read more...] about Viewpoint | Credit access to debit card holders, a potential game-changer for consumer spending