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CSR Policy

Introduction

"Corporate Social Responsibility" (CSR) is a way of conducting business by which corporate entities visibly contribute to the social good. The essence of CSR is to integrate economic, environmental, and social objectives with the company's operations and growth. CSR is how an organization thinks about and evolves its relationships with society for the common good. CSR demonstrates an organization's commitment to giving back to the community the resources it has used to flourish by adopting appropriate business processes and strategies. The main objective of the CSR policy is to make CSR an essential business process for the sustainable development of society. In its endeavours to mutually achieve the said objective, the Act stipulates the provisions regarding mandatory adherence to the Corporate Social Responsibility practices by the prescribed classes of companies.

Corporate Sustainability

At Nreach Online Services Private Limited (Xoxoday), we aim to treat the Corporate Sustainability function (covering CSR, Climate Change, and Affirmative Action) as an intrinsic and essential part of being in business.

Xoxoday will leverage the skills and competencies, financial and people resources, and the infrastructure and relationships of the company to excel and maximize societal impact. This ensures that Corporate Social Responsibility (CSR) benefits from the company's business activity even as it serves the communities that interface with such business activity.

Activities

The Policy recognizes that CSR is not merely compliance; it is a commitment to work for social good through activities that enhance the social good in accordance with one or more of the following focus areas as notified under Section 135 of the Companies Act 2013, Companies (Corporate Social Responsibility Policy) Rules, 2014 and Schedule VII of the Companies Act, 2013:

  • Eradicating poverty, hunger, and malnutrition, promoting health care, including preventive health care and sanitation, a contribution to the Swach Bharat Kosh set up by the Central Government for the promotion of sanitation and making available safe drinking water;
  • Promoting education, including special education and employment enhancing vocation skills, for children, women, elderly, and the differently-abled and promote livelihood enhancement projects;
  • Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes and daycare centres, and other such facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups;
  • Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining the quality of soil, air and water, including contribution to the Clean Ganga Fund set up by the Central Government for rejuvenation of river Ganga;
  • Protection of National Heritage, art and culture, including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional arts and handicrafts;
  • Measures for the benefit of armed force veterans, war widows, and their dependents;
  • Training to promote rural sports, nationally recognized sports, Paralympic sports and Olympics sports;
  • Contribution to the Prime Minister's National Relief Fund or any other fund set up by the Central Government for socio-economic development and relief and welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women;
  • Contributions or funds provided to technology incubators located within academic institutions which the Central Government approves;
  • Rural development projects.
  • Slum area development.
  • Disaster management, including relief, rehabilitation, and reconstruction activities; and
  • Such other activities within the purview of Schedule VII of the Act as the CSR Committee deems fit

CSR activities shall be undertaken as projects, programs or activities (either new or ongoing), excluding activities undertaken in pursuance of the ordinary course of business of the company.

Geographical focus

Apart from having a significant geographical focus in the state of Karnataka, Xoxoday would also dispassionately look into other geographies as and when such a need arises, keeping in mind its CSR policy framework for reach and support.

Aligning with the Companies Act, 2013

The CSR Policy of the company is aligned with the following guidelines:

  • The requirements of Section 135 of the Companies Act 2013 and the corresponding rules
  • Schedule VII of the Companies Act, 2013

 Spends 

The company will spend at least 2% of its average net profits of the previous three financial years for its CSR activities, which shall not include investment in any projects considered as business-as-usual activities.

Any surplus arising out of CSR projects, programs, or activities shall not form a part of the company's business profits.

Implementing mechanism

The company will implement its CSR initiatives by combining its in-house teams/volunteering activities, partnering with Non-Governmental Organizations (NGOs) and institutes of repute and other partner organizations who have competencies in the field under consideration.

Monitoring mechanism

Each of the CSR projects and programs will have a clearly defined output. The progress will be reviewed and reported regularly or per schedules defined under various projects as appropriate by the CSR Committee.

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