By Oxfam India
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Mint: Companies Need To Look Beyond The Definition Of CSR

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New Delhi: To gauge the extent of engagement that Indian companies have with the communities around them, non-profit organizations Oxfam India, Corporate Responsibility Watch, Praxis and Partners in Change collaborated on an index—the India Responsible Business Index (IRBI), now in its second edition.

The collaborative effort is aimed at promoting discussions and debates around the non-financial processes of businesses to encourage responsible business practices.

While corporate social responsibility (CSR) rules of 2014—which direct certain firms to spend 2% of their average profits on social development projects—have had a positive impact on company ratings in IRBI 2016, they are no substitute for responsible business practices, say experts.

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(Moyna Manku)