Fiinovation Linkedin: Five ways to communicate your CSR initiatives on Linkedin

 

“Social media lets you directly connect to your target audience.”

                                              -Fiinovation CEO and Founder, Dr. Soumitro Chakraborty

Corporate Social Responsibility offers many benefits to companies, such as better brand recognition, positive business reputation, increased sales and customer loyalty, operational cost savings, better financial performance, greater ability to attract talent and retain staff, organisational growth, easier access to capital, attract positive media attention, identify new business opportunities, etc. Corporate social responsibility is capturing an idea of responsible companies respecting the concept of people, planet, and profit. Today the world has started to care about global and local issues with social and environmental aspects “Corporate Social Responsibility is a way of doing business that matches or exceeds ethical, legal, commercial and social expectations.”

Innovative financial Advisors pvt. Ltd. (Fiinovation), is a global consulting company operating in multiple disciplines of the social development sector with emphasis on Corporate Social Responsibility (CSR) and Sustainability. Fiinovation always post their CSR activities on social media platforms, such as fiinovation linkedin, fiinovation facebook, fiinovation twitter and fiinovation Pinterest because Social media is an effective way to reach out to their audiences. Even you can see in fiinovation reviews how their clients are happy with their services also on fiinovation glassdoor, for the company's friendly environment and also they update fiinovation jobs opportunities for Managerial posts.

Social and media in order to describe and understand the meaning of the whole. Social can be described as a group of people with relations between them while media can be described as an instrument with the purpose to provide communication. By putting these two words together, we get that social media is an instrument of on-line communication between people. These people can create information, share and exchange them with other users in specific places such as networks or in general virtual communities. Social media affects our everyday personal or business life in both positive and negative ways. There are many social media platforms, where we can conduct CSR activities. Such as, Facebook, Linkedin, twitter, instagram, pinterest, google+, etc. The existence of social media allows the democratization of the internet. Users can share what they want, express their feelings and opinions on topics or for example vote in online polls. Information flows have been relaxed and enriched by them. The biggest advantage of social media is considered the fact that people can stay in touch with friends, families and also connect with other users and make new friends or form relationships. Social media is also used for learning and gaining new skills and knowledge. By using social media, people can reach a wider audience in comparison with traditional media and they can also, individually or in collaboration, create new content and manage it. Social media can be used in education too. Knowledge bases like Wikipedia contain a lot of information and can help users to understand what they are looking for or help solve problems. Social media is a very powerful tool in business too. It helps to expand the markets, or promote a brand to a wide audience or improve the relationship with customers among many other things. These days, marketing in business is one of the most important things for a company to stay competitive. There is no better place where to make good marketing strategies than social media.

Here are 5 tips for business owners, marketers and social media managers to create a sound CSR strategy on Linkedin.

• Master the art of Social Listening: There are two ways to carry out the brand values on Linkedin. First, Monitor Linkedin pages for mentions of your brand, products, and keywords related to your business. Second, Analyze the information for ways to put what you learn into action. That can be something as small as responding to a happy customer, or something as big as shifting your entire brand positioning.
• Be transparent: Company personification is a major aspect that distinguishes one individual from another. When communicating, make sure to be your authentic self. It is possible to infuse your personality into your posts while being appropriate and maintaining the ethics of your profession.
• Be creative: Linkedin is a great way to drive traffic to your website. There are 690 millions of people who are active everyday. Your tactics always look to provide value to your followers by including relevant posts which are informative and shareable.
• Show the impact of your work: Identify the issue you want to address in your campaign and clearly explain it to your audience. Pinpoint the different challenges involved, how you will overcome them and the path to get there. To resonate with your followers, you have to document every step of the way on your linkedin.
• Involvement of your Employees: Employees are the most trusted source of information in a company. Employees have 5x more reach than corporate accounts, Social followers of your employees are 7x more likely to convert. Employee’s social connections that can actually amplify brand visibility, increase lead quality, drive web traffic, and boost social recruiting.

Fiinovation contact:

Fiinovation Delhi address: 24/30, Ground Floor, Okhla Industrial Estate, Phase III New Delhi – 110020, Delhi, India.

Fiinovation jobs: Career opportunities in CSR fields

 

Corporate social responsibility is a concept helpful in the Corporate world. Companies spent a certain percentage of their profile for CSR operations to contribute to make a better society and a clean environment. The concept of CSR has evolved from welfare activities (such as philanthropy, donations, charity, relief work and others) to the one that now incorporates corporate citizenship, strategic philanthropy, shared value, corporate sustainability and business responsibility. CSR is the process where a company achieves a balance of social, environmental and economic obligation. CSR is playing an important part in the corporate world which is helpful for business strategy to minimize the business risk. Corporate Social Responsibility (CSR) Sector is emerging as a rapidly growing and promising career domain. Also Corporate Social Responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. Fiinovation considers CSR of strategic importance. They assist their partners in adopting sustainable approaches in their businesses as well as in undertaking impactful social initiatives as a part of their CSR mandate. Innovative financial Advisors pvt. Ltd. provides its services to both civil society organizations (CSOs) and corporations in carrying out fiinovation projects, field research studies, forging alliances, designing CSR policy of corporations. Fiinovation is the middleware between CSOs and corporations, where it provides funds to the CSOs and works with corporations related to CSR projects. Fiinovation working on analytics, grant management, programme management, proposal research laboratory, project optimization. The main fiinovation practices are health, education, agriculture, environment and livelihood.

There are lots of opportunities present in the corporate world such as,

Business abilities (counting building knowledge, relational abilities, dynamic, business mindfulness, IT, advancement, vital mindfulness, administration, taking care of multifaceted nature and critical thinking)

Relationship building abilities (counting versatility and compassion, creating others, affecting without power, liberal, trustworthiness, political mindfulness, self-advancement and getting the hang of, building organizations, group working and addressing "business as usual")

Specialized abilities (counting specialized mastery, getting impacts, partner discourse, inward consultancy, selling the business case, understanding human rights and getting supportability).

At manager level, some key responsibilities are important, such as Understanding society, Building capacity, Questioning business as usual, Stakeholder relations, Strategic view, Harnessing diversity. Innovative Financial Advisors Pvt. Ltd. provides fiinovation jobs in Relationship manager, Senior manager, human resources manager, project developer, Data analyst, program manager, Business development manager, and Senior project manager. This all are CSR based positions. You can also apply for these positions on Fiinovation Linkedin. You can see employee reviews on Fiinovation glassdoor that shows the friendly company environment as well as experienced and hardworking employees work. CSR sector recruits its major workforce from among the professionals who are into Social work, rural development and other developmental fields to undertake and manage the CSR activities of the company. There are an increasing number of qualifications becoming available at Masters Level and as part of MBA courses. The professional courses like Master of Social Works (MSW), MBA in rural development and Post Graduate Diploma in Rural development etc. offered by different universities and reputed institutions may be the right option for a career in CSR. It is a challenge for those who are just getting started in the CSR Sector, as most Corporations would look for candidates who have some relevant CSR Experience. Getting on board with a specific company can sometimes become a challenge. Hence, a possible solution would be to opt for Internship for a couple of months and gain experience. Fiinovation is the great start to start your career in the CSR field.

Fiinovation CEO and Chairman - Centre for CSR and sustainability excellence Dr. Soumitro Chakraborty said, “What we take from the community, we must give back to it.” Innovative Financial Advisors Pvt. Ltd. (Fiinovation) is a research-based organization that offers expertise in sectors like Healthcare, Environment, Education, Skill Development and Livelihood with emphasis on Corporate Social Responsibility and Sustainability. Fiinovation is a knowledge partner of industry bodies such as Confederation of Indian Industries (CII) and Institute of Directors (IOD). With CII, the partnership emphasizes research for the promotion of affirmative actions along with CSR and social enterprises.

You can contact Fiinovation through their social media sites like Facebook, Twitter, Linkedin as they keep transparency about their work.

Fiinovation Okhla address: 24/30, Ground Floor, Okhla Industrial Estate, Phase III New Delhi – 110020, Delhi, India

Fiinovation Delhi: Sustainable development Goals

Sustainable development goals mean global goals. Sustainable development goals help to maintain balance in social, economic, and environmental sustainability. There are a total 17 goals that come under the sustainable development goals. UNDP’s main goal, “Our track record working across the Goals provides us with valuable experience and proven policy expertise to ensure we all reach the targets set out in the SDGs by 2030. But we cannot do this alone. Achieving the SDGs requires the partnership of governments, private sector, civil society and citizens alike to make sure we leave a better planet for future generations.”

Innovative financial Advisors pvt. Ltd. (Fiinovation) provides its services to both civil society organizations (CSOs) and corporations in carrying out fiinovation projects, field research studies, forging alliances, designing CSR policy of corporations. Fiinovation working on analytics, grant management, programme management, proposal research laboratory, project optimization. The main fiinovation practices are health, education, agriculture, environment and livelihood. In fiinovation blogs you can see their working strategies of fiinovation practices to solve problems, such as waste management, water crisis, health, corporate social responsibility, disaster management, sustainability, tourism, livelihood, gender equality, manual scavenging, monitoring and evaluation, hygiene, rain water harvesting, women issues, deadliest diseases.

Fiinovation CEO and Chairman - Centre for CSR and sustainability excellence Dr. Soumitro Chakraborty said, “At Fiinovation, we realise the approach towards addressing the social challenges with cost-effectiveness and time-orientation. Certainly, there is an immense growth potential in this sector, both quantitatively and qualitatively. What is important is that the commitment, even if they are minuscule, are undertaken and directed towards a positive and realistic impact which is measurable and scalable.” According to fiinovation,Sustainability is a comprehensive approach for a business that aims to create and maximize long-term economy by keeping a balance of social and environmental aspects in a longer run. Being a research-driven organisation, Fiinovation also contributes to IOD's Masterclass for Directors that has a wide spectrum of subjects such as corporate governance, sustainability, HR practices, finance, corporate social responsibility, environmental management and board effectiveness.

In Fiinovation reviews, you can see how their clients are happy, that shows the supportive company environment, which is what every client wants. You can see employee reviews on fiinovation glassdoor that shows the friendly company environment as well as experienced and hardworking employees work. We can contact Fiinovation through their social media sites like fiinovation Facebook, Twitter, Linkedin as they keep transparency about their work.

Fiinovation Delhi address: 24/30, Ground Floor, Okhla Industrial Estate, Phase III New Delhi – 110020, Delhi, India.

CSR for Covid-19

“ The best way to find yourself is to lose yourself in service of others”

- Mahatma Gandhi

Crises are not pre-planned, it can happen anytime anywhere so it is very important to handle the crisis at the right time before it wrecks everything. As the whole world is suffering from the pandemic of Covid-19 the economy is badly affected and it becomes difficult for the government to handle every situation due to lack of funds. Thus many Corporates step forward for a helping hand towards society as their CSR activity. For these companies require proper guidance and consulting about how they can serve society during the Outbreak of Covid-19.


Innovation Financial Advisors Pvt Ltd (Fiinovation) is a leading research and advisory firm that offers expertise in Corporate Social Responsibility (CSR) and sustainability domain. Fiinovation Projects are appreciated by many companies as their investment in Fiinovation CSR activities brings effective results. SMS India had made a partnership with Fiinovation for Covid-19 Project in Odisha.


Following are the details of Covid-19 Relief Project:

To reach as many unprivileged people in Odisha to provide food facilities

To conduct an awareness session on hygiene and social distancing

Providing dry rations and hygiene essentials to poor and needy families.

The project will be implemented in Khordah district in Odisha and aims to benefit 2500 households in that area.

Fiinovation CEO Dr Soumitro Chakraborty and team are tirelessly working to make this project successful and also to implement it in different parts of the country. Fiinovation is honoured with Most Caring Company Award World CSR Congress, Mumbai-2015 and also appreciated by around the world.

How Businesses can help during Covid-19?

During this pandemic, everyone is working from home as many businesses are affected including Hotels, Airlines and various manufacturing plants are closed due to this lot of people are on the urge to lose their jobs because of low Income.

Companies are deducting some percent of salaries from their employees due to less profit and to contribute towards Covid-19 relief programs.

They can arrange food and medical facilities for needy people.

To Implement CSR activities so that their Investment will add value in society.

Promoting Covid-19 awareness campaign

Providing transport facilities for goods and services

In this lockdown situation, the government and corporates work hand in hand to serve the society with various CSR activities, For this many reputed companies like Tata, Wipro etc are now contributing to fulfilling the needs for food and healthcare services for the society.
Fiinovation partners with different companies to serve the society as their ongoing Covid-19 Relief project to benefit 2500 households in Khordah District by delivering food & hygiene facilities and also to spread awareness about the safety measures during Covid-19.

Fiinovation believes in transparency as we can also track the progress of the project through their social media sites like Facebook, Twitter & Linkedin. Companies can also contact Fiinovation for their CSR activities as Fiinovation Projects are well recognized by society.

Contact through links: Fiinovation Twitter

Fiinovation Youtube

Fiinovation Delhi NGO address: 24/30, Ground Floor, Okhla Industrial Estate, Phase - III, New Delhi - 110020, Delhi, India

Fiinovation : Be positive

Innovative Financial Advisors Pvt. Ltd (fiinovation), is a leading research and advisory firm located at Okhla Industrial Estate, Phase-III, New Delhi, offers expertise in the corporate social responsibility (CSR) and sustainability domain. Fiinovation was founded by DR. Soumitro Chakraborty, in 2008 to focus on CSR and the sustainability domain. The organization proudly houses Asia’s first Proposal and Research Laboratory, wherein research is primarily focused on practice areas. Fiinovation practices include health, education, livelihood, and environmental skills.

The main vision of Fiinovation is,

“ To ensure that development is not only sustainable and simplistic, but accessible as well”

It provides many solutions in analytics, grant management, program management, proposal research laboratory, and project optimization. The Fiinovation CEO Dr. Soumitro Chakraborty said “ Being responsible in a business is not a choice anymore and we’re racing against time. We take in the fact that our company is a catalyst in the process”.

Fiinovation believes in achieving simplicity in everything to build solutions that are efficient and easy to scale, also believe transparency builds trust and fosters growth and without any compromising in the quality of work because they value their customers. Simplicity, transparency, and quality are three morals show in every Fiinovation project. It mentions their Socio-economic projects, Fiinovation CSR(corporate social responsibility) programs in Fiinovation Blogs. 

Fiinovation completed many successful projects such as Programme Management of Sustainable Agriculture Project in Rayagada, Odisha, Need Assessment For a Consumer Goods Group Company in Mohali, Punjab, Socio-Economic Study for India’s Only Independent Power Producer, Programme Management for a Rainwater Harvesting Project, Impact Assessment of Mobile Science Labs for a Leading Pharmaceutical Company, Socio-Economic Study for a Leading Cement Company, Baseline Assessment of Safe Drinking Water Project for a Renowned Renewable Energy Producer, Fiinovation Conducts Skill Gap Analysis for the Natural Rubber Growers, Impact Assessment of Leading Rubber Sector Skill Council’s Up-skilling Training Programmes, and many more. Fiinovation company celebrating 11 years of valuable partnership with D-Note Express. D-Note Express is a Fiinovation pvt ltd theme-based monthly newsletter that talks about various socio-economic issues in India, recent associations, and events. 

Fiinovation awarded by Most promising business leaders of Asia 2019, at the Asian business leaders conclave, Singapore, CEO of the year 2019, world CSR Congress, Mumbai, 2019, and Best technical CSR provider award, Vidya Bhavan, New Delhi, Most admired leader for CSR and Sustainability award 2017, CSR excellence award 2017, CSR leadership award 2017, Queen victoria Commemorative medal, London, 2016, the best team of the year award 2015, Most caring company award 2015, Best enterprises of the year and manager of the year 2014, oxford town hall, oxford, UK-2014, Best Innovation: Product or service award, World CSR Congress, Mumbai, 2014.

CSR expenditure is on the rise across India's business environment

Five years after corporate social responsibility (CSR) was mandated by the government, Big Four accounting and advisory firm KPMG has found that India’s largest companies are almost entirely compliant with the new regulations. 98 % of companies surveyed by the firm had their policies available in the public domain.

CSR was mandated by the government in 2013 under Section 135 of the Companies Act, a legislation that cam with a number of stipulations for businesses that fall under the label of ‘large companies.’ KPMG defines these as the 100 listed companies in India with the largest market capitalisation, or the N100.

A major stipulation, and one that has received a considerable amount of attention, is that large companies must earmark 2% of their annual profits towards CSR activity. The legislation comes with some leeqay, in that companies that haven’t devoted the necessary funds have space to justify their actions.

Other stipulations include setting up a CSR committee at the board level that will devise a CSR policy, making the policy available in the public domain, enumerating the areas of intervention that come within this policy, disclosing the mode of implementation, and revealing the methods to monitor CSR activity, among a wide range of others.

Since CSR was mandated, KPMG has checked in regularly with the N100 to gauge the state of compliance vis-à-vis the relatively new regulatory framework. This year, the firm’s evaluation produced promising results, showing an overall improvement in compliance across the board.

For instance, KPMG reports that there has been a 325% increase in the number of companies that have revealed details of their outreach effort in their annual financial statements. The amount of companies meeting their 2% per year quota is also on the rise, currently up to 76%.

This scenario is reflected in stories emerging throughout the year of social and developmental projects undertaken by large firms. The consulting sector is an integral part of this landscape. PwC, for instance, supports a number of social initiatives through its PwC India Foundation, including rehabilitation efforts in the wake of natural disasters.

Global management consultancy Accenture, meanwhile, has been involved in education efforts across the country. KPMG itself earmarked as much as Rs.2 crore towards helping those affected in the Kerala floods in 2018, in addition to deploying employee hours towards pro bono relief efforts.

Overall, KPMG reports that the N100 have spent more than Rs.35,000 on CSR-related projects in the last five years, accompanied by a 150% increase over the same period in the number of companies that carry the unspent portion of the annual 2% forwards into the next year.

With a long-term perspective, many large companies are looking to align their CSR activities with priorities within India and across the globe. As many as 41% of the N100 have now focused their CSR projects within the Sustainable Development Goals (SDGs) framework laid out by the United Nations.

Within the Indian context, a large share of the focus has been on projects to reduce inequality. Strikingly, KPGM reports that companies where women are chairpersons of the CSR committee have had the most dramatic increase in spending on reducing social inequality.

Article is taken from - https://www.consultancy.in/news/2838/csr-expenditure-is-on-the-rise-across-indias-business-environment

Innovative Financial Advisors Pvt. Ltd. (Fiinovation) is a global consulting firm operating in multiple disciplines of the social development sector with emphasis on Corporate Social Responsibility (CSR) and Sustainability. Fiinovation offers end to end CSR consulting services and simplified solutions that has helped various corporations channelize their resources for the upliftment of community on societal, economic and ecological aspects in accordance to their CSR charter. Since 2008, Fiinovation has grown phenomenally and has made a benchmark in the sector through its service quality. It has been able to bridge the gap between businesses and communities through value-based CSR programmes in association with credible civil society organizations on pan India basis in the field of health, environment, education, and livelihood

Fiinovation CEO : Dr Soumitro Chakraborty, Chief Executive Officer of Innovative Financial Advisors Pvt. Ltd. (Fiinovation), was conferred with ‘CEO of the year’ award at the 8th World CSR Congress held in Mumbai on February 18.

The World CSR Congress this year focused on the integration of Sustainable Development Goals (SDGs) in corporate strategies, innovation, and strategic alliances. The award recognizes fiinovation projects exemplary work in the social development sector and noteworthy CSR and sustainability programmes.

Fiinovation Delhi NGO address - 24/30, Ground Floor, Okhla Industrial Estate Phase 3 Rd, New Delhi, Delhi 110020

India Inc’s CSR spending grew 17.5% in FY19

India Inc. is doing much more than just lip service towards Corporate Social Responsibility (CSR) and it is evident from the fact that 1,132 companies listed on the NSE witnessed an annual increase of 17.5% in CSR spends at ₹11,961 crore in FY19. According to nseinfobase.com -- a joint initiative of National Stock Exchange (NSE) and PRIME Database, the average net profit of these companies was over ₹6 lakh crore in FY19, up from ₹5.23 lakh crore in FY18. The CSR spend stood at about 1.99% of the total average net profit in FY19, while the average spend per company was ₹10.57 crore.

Back in FY15, these companies spent ₹6,556 crore or 1.57% of their total net profit on CSR; it was nearly 30% lower than FY19 at ₹7.45 crore on an average per company. “CSR expenditure by companies listed at NSE has grown at a healthy compounded annual growth rate (CAGR) of 17% over the last five years,” says Mukesh Agarwal, CEO, NSE Data & Analytics. As per CSR requirements, the amount required to be spent for FY19 was ₹12,018 crore, but the companies decided to spend a bit more at ₹12,461 crore, but ₹1,343 crore eventually remained unspent. While the CSR law mandates spending across 12 prescribed schedules, few companies deployed CSR spends towards community development, infrastructure, social welfare, child welfare, and other activities.

“In line with the previous year, education received the maximum spend (₹4,440 crore) followed by healthcare (₹3,242 crore),” says Pranav Haldea, managing director, PRIME Database Group which has developed and powers nseinfobase.com. “Areas such as armed force veterans, technology incubators, slum development and disaster management saw negligible spends,” Haldea adds. In terms of company-wise CSR spends, the number of companies which spent on CSR went up to 1,055 (93% of the 1,132 companies) in FY19 compared to 1,024 (94%) in FY18. The balance 77 companies, despite being mandated, did not spend anything, according to nseinfobase.com.

Overall, 653 companies, or 64%, increased their spending as compared to FY18, while there were 488 companies (43%) which exceeded their prescribed spending in FY19. There were also 37 companies, which despite reporting a loss, spent on CSR. On the other hand, there were 332 companies which missed the mandatory spending of 2% of net profit in FY19, compared to 353 in FY18. On the other hand, there were 332 companies which missed the mandatory spending of 2% of net profit in FY19, compared to 353 in FY18. The CSR spends from PSUs touched ₹3,198 crore from 57 PSUs in FY19, as compared to ₹2,710 crore spent by 54 PSUs in FY18.

Link: https://www.fortuneindia.com/investing/india-incs-csr-spending-grew-over-175-in-fy19/104026

(Innovative Financial Advisors Pvt. Ltd. (Fiinovation) is a global consulting firm operating in multiple disciplines of the social development sector with emphasis on Corporate Social Responsibility (CSR) and Sustainability. Fiinovation offers end to end CSR consulting services and simplified solutions that has helped various corporations channelize their resources for the upliftment of community on societal, economic and ecological aspects in accordance to their CSR charter. Since 2008, Fiinovation has grown phenomenally and has made a benchmark in the sector through its service quality. It has been able to bridge the gap between businesses and communities through value-based CSR programmes in association with credible civil society organizations on pan India basis in the field of health, environment, education, and livelihood

Fiinovation CEO : Dr Soumitro Chakraborty, Chief Executive Officer of Innovative Financial Advisors Pvt. Ltd. (Fiinovation), was conferred with ‘CEO of the year’ award at the 8th World CSR Congress held in Mumbai on February 18.

The World CSR Congress this year focused on the integration of Sustainable Development Goals (SDGs) in corporate strategies, innovation, and strategic alliances. The award recognizes fiinovation projects exemplary work in the social development sector and noteworthy CSR and sustainability programmes. 

Fiinovation Delhi NGO address - 24/30, Ground Floor, Okhla Industrial Estate Phase 3 Rd, New Delhi, Delhi 110020

Corporate social responsibility for agricultural Development and its impact on income generation

Indian Agriculture sector continue to remain shabby for the economic growth of India. Although, the rising demand of food in domestic and global markets can create huge possibilities, small and declining land holding, price volatility, soil degradation and climate risks continue to trouble the farmers.  Less opportunities and constraints to improve the agricultural sector also affects the farmers income, especially the small and marginal farmers. The overall development of agriculture needs to involve various service providers such as private agribusiness companies, NGO’s in dissemination of agricultural technologies with knowledge, skills, expertise and leveraging Corporate Social Responsibility (CSR) funds.

Although, inadequate amount of CSR funds has been spent in the agricultural sector by the companies, there is a huge potential for investment in this sector. Companies can implement CSR project for agricultural development and income generation for farmers. Such investment will help the agriculture sector to improve and flourish. Major agricultural states in India are currently facing challenges in agricultural development.

Odisha like other states of the country is facing huge challenges related to water scarcity, soil degradation, productivity, rising costs of labour and energy. In a significant move, PI Foundation, a Trust supported by PI Industries Ltd, BSE and NSE listed leading Agri Input, Custom Synthesis and Manufacturing company, has collaborated with Fiinovation company, a research-based CSR consulting firm to carry out a CSR initiative. The primary agenda of the program is ‘Income Generation through Sustainable Agriculture’ for the farmers in Odisha. Keeping in mind the objective to improve the income level of the disadvantaged group of farmers, Fiinovation and PI Industries foundation developed a model in the year 2016 to promote sustainable agriculture in one of the backward tribal parts of the country in South Odisha. The sustainable agriculture practices entail the adoption and mainstreaming of the Good Agricultural Practices (GAP) among the small and marginal farmers. The intervention is laying emphasis on agricultural practices that are cost-effective, sustainable and require lesser amount of water, energy resources and labour.

The CSR Activities aims to skill over 1500 farmers giving hands-on training on the working of seed drillers, sowing method, insect pest management, judicious use of farm inputs and other extended services over the next two years, thereby enabling agriculture on sustainable lines of production in the Rayagada district of Odisha. The focus is also on product stewardship. The farmers are being provided with a live demonstration on the field and effective boot camps are being organized to increase farmer participation. They are counselled on the working of seed drillers, sowing method, insect pest management, judicious use of farm inputs, product stewardship and other extended services.

Farmers of these villages are now adopting the sustainable practices of agriculture in their farming. The difference can be seen easily in control fields where the intervention had not happened before.

Fiinovation focuses on implementing effective intervention design and selection of the implementing partner. As a result, Harsha Foundation, a NGO ensuring livelihood security and improving the quality of life of the farmers by capacity building is running on ground program to provide hands-on training on different aspects of GAP(Good Agricultural Practices). This includes agronomy, plant protection, nutrient management, storages, and sorting forward market linkages.

Fiinovation plays a vital role in conducting monitoring & evaluation and impact assessment exercises on a regular basis to ensure the success of the proposed CSR programme in farming. The next step is the distribution of inputs like fertilisers, pesticides, seeds & sacks through farmer interest group. So far, 6 training sessions have been conducted on seeds treatment training & POP. Also, 3 training sessions on seed replacement & seed treatment, Value addition and market linkages, have been conducted so far in the area to ensure a smooth functioning in the village. 45 Farmers Interest Groups (FIG) has also been formed.

In the month of July alone, all the 1300 farmers started consuming the vegetables at home and offered the same to their relatives. The surplus production are being sold in local & daily market. During the month, two road side market hub called “Green Market” inauguration was done at Bissamcuttack and Kalyansingpur block.

The overall observation in the area

It has been observed in the area that few of the farmers are still applying traditional practices for agriculture. The difference between traditional farming and farming through new techniques can easily be observed in the field. Through this initiative the farmers’ income through the sale of produce has considerably increased. The female in the community have been able to make a better livelihood along with improved quality of life.

Agriculture remains as a crucial sector in Odisha’s economy, both in terms of its contribution to State Domestic Product and employment, as more than 70% of the population (Directorate of Horticulture) depend on agriculture directly or indirectly for their sustenance. The targeted area, Rayagada district is mainly inhabited by the tribal population which is rainfall dependent, agriculture is the major source of livelihood and rains are quite unpredictable in the area. With projects like these, Fiinovation and Pi Industries aim to create sustainable social goals and income generation through CSR initiatives in the lives of the downtrodden farmers in such neglected areas. More corporates should come forward and plan interventions like these in other agriculture dominated areas of the country to the Agriculture sector to flourish.

How CSR can improve India's healthcare ?

Even after 72 years of India’s Independence, inequality in access to healthcare facility for all is a crippling issue. Around 70% of India’s rural population has limited access to quality healthcare. Even in urban cities, the healthcare facilities are not at par to deal with the country’s burgeoning requirement. Over 63 million people in India are pushed to poverty every year due to healthcare costs. 

Public health is a state subject in India and the role of the central govt is to complement the efforts of the states by ensuring a robust policy framework for the state to implement. However, India’s spending on healthcare is estimated to be around 1.5% of the GDP which in comparison to other countries is significantly low. Although life expectancy has increased substantially over the years, we still lag in implementing proper policies to solve issues like maternal mortality and infant mortality rate.

With the advent of privatisation, the quality of medical facilities has increased to a greater extent. Private hospitals are capacitated enough to provide excellent care and medical amenities but they are beyond the reach of most people. Though some private hospitals are affordable they are overcrowded and lack responsiveness.

To achieve desirable results of good health and well-being and achieve universal access to good quality healthcare services, preventive and promotive health care orientation in all developmental policies is needed. However, expecting the govt to solve all issues  is not the solution.  The private sector can also play a major role to support healthcare through their 2% CSR mandate. In recent years, Corporates are majorly spending into healthcare. According to a report published by KPMG, Indian companies spent Rs 1641 crore in the year 2018 towards health care. However, much of the spends were focussed on health camps, building infrastructure or donation to hospitals to keep it functioning. 

Given the current issues India’s medical care is suffering and corporates can do a lot through CSR activities around healthcare. There is an urgent need to shift focus on primary care than improving tertiary care. Here the pharmacies in the interior of the country could be trained to provide medicines for common health problems. Basic diagnostics for blood pressure, diabetics etc can be provided with affordable and efficient health service.

Corporates run many hospitals under their name and have access to greater resources. This advantage can be utilized by providing incentives to doctors to spend their time in rural or remote areas. Further, considering the shortage of well-trained doctors corporates can subsidize medical education in forms of scholarships for deserving students. Corporates can also partner with existing medical colleges for expansion of facilities, upgrading teaching patterns, providing access to medical literature etc.

Another solution to improve the healthcare scenario is to promote health insurance, especially for the poor and underserved communities. Companies can partner with pharma companies to enable distribution of relatively cheaper medicines and provide them health insurance facility. Major CSR intervention in the health sector focuses on promoting health check-up camp whereas there is also a need to emphasise on measuring the outcome of these health checkups on the community and follow up on further treatments.

We are equipped with the necessary resources to fulfil the sustainable development goal of good health and well being. All we need is the right place and channel to implement them. We hope to do it soon enough. 

About Fiinovation Company

Fiinovation (Innovative Financial Advisors Pvt. Ltd.), is a global CSR consulting firm operating in multiple disciplines of the social development sector. It’s emphasises on Corporate Social Responsibility (CSR) and Sustainability initiatives/programmes.

Fiinovation started its journey in the year 2008 under the guidance of Mr. Soumitro Chakraborty (Fiinovation CEO). Over the past 8 years, it has grown leaps in every aspect of operations in the social sector. Fiinovation has also been successful in bridging the gap between businesses and communities through value based CSR Projects in India by engaging with various corporations and credible NGOs in the field of health, environment, education, livelihood& skills.

Fiinovation Contact - 24/30, Ground Floor, Okhla Industrial Estate Phase 3 Rd, New Delhi, Delhi 110020.

Fiinovation and Newgen Software Partner for a Digital Education Program in Delhi

Innovative Financial Advisors Pvt Ltd (Fiinovation) recently partnered with Newgen Software Technologies Ltd for evaluation of Newgen's Digital Discovery Paathshala (NDDP) program running in three Delhi schools, i.e. Government Girls Senior Secondary School (Harkesh Nagar), Soami Nagar Model School (Soami Nagar) and Government Girls Senior Secondary School (Tekhand) and catering to 3000+ girl students.

The project aims at generating interest among students especially girls towards digital literacy by using the latest technology. The use of digital technology equips the students with skill-set to seek knowledge, discover new horizons and enables them to be independent, self-reliant and confident.

As a part of the association, Fiinovation has assessed the on-ground implementation of the project and the impact it created in empowering the students through digital aid. The NDDP program has created an extensive impact in the lives of the beneficiaries by deploying innovative pedagogy, addressing the lack of infrastructural facilities and efficient facilitation.

"India is at a nascent stage when it comes to digital education compared to other developed countries. If we intend to keep pace with the growing technology and take advantage of the potential benefits of digital learning, then we need to appropriately resource our teachers and students". He further said that, "I highly appreciate the efforts by our partners towards digital empowerment of students and contribution towards achieving the Sustainable Development Goals of Quality Education and Gender Equality", said Dr Soumitro Chakraborty, CEO, Fiinovation.

Fiinovation Company Partnered with Arohan Financial Services Limited For Six CSR projects.

Innovative Financial Advisors Pvt. Ltd (Fiinovation) recently partnered with Arohan Financial Services Limited, leading financial-inclusion focused NBFC-MFI, for the impact assessment of six CSR projects undertaken by Arohan in the states of Bihar, West Bengal, Jharkhand, Odisha, Assam and Uttar Pradesh. The projects aim at elevating the socio-economic condition of the marginalized communities in the targeted regions. The projects are meticulously designed and focused at generating awareness about primary healthcare, improving the quality and quantity of drinking water, offering scholarships to female students, generating livelihood opportunities through skill development, improving school infrastructure, and offering disaster relief in the flood-affected areas.

Talking about the association, Dr Soumitro Chakraborty, CEO of Fiinovation said, “We’re excited to associate with Arohan and be their partners in the shared interest and passion towards serving the underserved and contribute towards the social sector”. As part of the partnership, Fiinovation has conducted a detailed evaluation of the CSR projects and its on-ground implementation. Fiinovation CEO further said, “The projects are exemplary example of how corporations can make CSR an integral part of their business model and share the responsibility along with the government and civil society organizations, and concentrate efforts to address various social issues and effect sustainable change”. It has been observed, through the assessment that, the local community has witnessed an overall improvement in the health conditions due to increased access to healthcare services and cleans drinking water which has been provisioned through installations of RO plants. Multiple awareness driveson WASH components within the community were conducted and trainings were given about employing mechanisms for groundwater recharge and rainwater harvesting.

In accordance with government of India’s Skill India Mission, inspirational candidates from the underprivileged sections of the society were trained under skill development programmes. These programmes are categorically designed to create livelihood generation and employment opportunities. Understanding the importance of the role that education plays in uplifting the socio-economic condition of a community, the programme has contributed significantly towards developing the infrastructure of the schools in the targeted areas. Scholarships offered to the girls of the underprivileged section of the community have resulted in reduced number of school dropouts and decline in child marriages. The initiative has also extended help to the flood-affected community by providing basic food relief.

The Companies Act Amendment 2019

The Government of India has amended the Companies Act, 2013. The new Companies Act  Amendment bill 2019 was passed in both the Houses of Parliament, and past President's approval on the 31st of July, it became an Act within Section 135. 

Rules Till Now

·         Section 135(1): CSR rules mandate every company with a net worth of Rs 500 crore or more, or turnover of Rs 1,000 crore or more, during any financial year has to constitute a CSR committee and has to spend 2% of the average net profit (PBT) over the last 3 financial years on certain CSR activities as mandated under Schedule VII of the Companies Act. It also states that every eligible company shall constitute CSR committee of the Board, consisting of 3 or more Directors, out of which at least one director shall be independent. 

·         Until now if the company failed to spend the stipulated amount, the Board members had to specify the reasons for not spending the amount in the CSR report.” Therefore, it was comply or explain. Under Section 135 (5): Board will have to spend at least 2% in every financial year. If not spent, they will have to report and specify the reasons for not spending the amount.

New Amendment - Section 135 (6)

·         After the amendment, every company is now entitled to explain the expenditure on CSR. If the amount is unspent during the one year window, the companies will have to transfer the money they fail to spend in that year to an “unspent Corporate Social Responsibility account”, from which they can draw within the next 3 years to spend on CSR activities. This transfer has to be done within 30 days of completion of the financial year, wherein the money was supposed to be spent. This special account has to be opened in a scheduled bank. If a company is still unable to spend the amount within that period of 3 years, it can transfer it to a govt fund specified in Schedule VII of the Companies Act, such as the PM's National Relief Fund, within a period of 30 days of the 3rd financial year-end, failing which fines and imprisonment clauses will be levied.

Fines and imprisonment clauses: Section 135 (7) 

·         The Amendment states that “if a company contravenes the provisions of sub-section (5) and (6) of Section 135, the Company shall be liable for fine, which is between Rs 50,000 to Rs 25 lakh. Officer of such company who is in default is liable for 3 years imprisonment or a fine between Rs 50,000 to Rs 5 lakh, or both.

About Fiinovation:-

Innovative Financial Advisors Pvt. Ltd. (Fiinovation) is a global consulting firm operating in multiple disciplines of the social development sector with emphasis on Corporate Social Responsibility (CSR) and Sustainability. Fiinovation offers end to end CSR consulting services and simplified solutions that has helped various corporations channelize their resources for the upliftment of community on societal, economic and ecological aspects in accordance to their CSR charter. Since 2008, Fiinovation has grown phenomenally and has made a benchmark in the sector through its service quality. It has been able to bridge the gap between businesses and communities through value-based CSR programmes in association with credible civil society organizations on pan India basis in the field of health, environment, education, and livelihood. 

MSMEs - The growth engine of India's Economy.

The Indian MSME sector is the backbone of the national economic structure and has unremittingly acted as a bulwark for the Indian economy. It has provided resilience to ward off global economic shocks and adversities. The development of this segment is extremely critical to meet the national imperatives of financial inclusion and generation of significant levels of employment in urban, and rural areas across the country. Further, it can nurture and support the development of new-age entrepreneurs who have the potential to create globally competitive businesses from India.

There are around 63.4 million units throughout the geographical expanse of the country, and nearly 20% of the MSMEs are based out in the rural areas, which indicates the deployment of significant rural workforce in the MSME sector and is an exhibit to the importance of these enterprises in promoting sustainable and inclusive development as well as generating large scale employment, especially in the rural areas. In spite of its contribution to the socio-economic growth of India, MSMEs face several challenges, such as inadequate access to finance and credit, poor infrastructure and utilities, lack of innovation, and inability to adopt the technology.

Creating a robust MSME Sector will require efforts towards strengthening the credit structure to help MSMEs amplify their operations. The absorption and upgradation of technology are critically important aspects of the MSME ecosystem. Considering this, centres that offer skill upgradation, consultancy and prototyping training of futuristic technologies such as IoT, artificial intelligence (AI), virtual reality and 3D printing among others must be initiated across the country. 

Further, various stakeholders like banks and financial institutions, industry sector majors and MNCs, trade associations, and regulators across ministries at the centre and state level etc, will have to join hands and create a forward-looking framework and ecosystem for the MSMEs. 

Data Speaks 

1.       SMEs contribute 6.11% of the manufacturing GDP, 24.63% of the GDP from service activities and 33.4% of India's manufacturing output.

2.       120 million people depend on India’s MSME sector to earn their livelihood. 

3.       MSME related products value 147,390.08 million dollars. 

4.       48% of India’s export comes from the MSME Sector.