Mumbai:Indian Institution of Corporate Affairs (IICA) and BSE Ltd. signed an MoU in Mumbai to work collaboratively to develop a Corporate Social Responsibility (CSR) index, take up capacity building on CSR, conduct education and awareness programmes, and other activities to facilitate a more effective corporate participation in CSR areas. Shri Sachin Pilot, Minister of State for Corporate Affairs, was present on this occasion.

Shri Pilot speaking of the development of CSR index as one of the deliverables of the MoU,he stressed that “Top corporate leadership must lead from the front. It is a new beginning, new initiative for companies with the wherewithal to undertake such initiatives. The index will help in giving a larger platform to such companies and also a global perspective.”

Mr. R. Ramadorai, Chairman, BSE Ltd, while addressing the gathering spoke of earlier BSE interventions in developing such indices and also the importance of development of the CSR index, in the context of the new Companies Act.

Dr Bhaskar Chatterjee, DG and CEO, IICA termed the event as a historic occasion when the premier stock exchange of the country and a national institute has decided to collaborate. “This MOU will be a major landmark to get a better insight into the domain of CSR.”, he said.

The proposed IICA-BSE CSR Index shall assess impact and performance of companies listed at BSE in CSR activities.This CSR Index shall be viewed by all market participants to track the leaders in CSR activities in India. Top performers of this CSR Index shall be drivers for other corporate in India to perform and meet the expectations of all stakeholders in the society.