Based on the report above, the Board of Directors, inquire the following questions from the Company Secretary: 'The tradition of 'giving' has been deeply entrenched in the culture of India'. Elucidate the statement. Outl

The tradition of 'giving' has been deeply entrenched in the culture of India for community, religious and spiritual causes. The concept daana (giving), karma (fate) and seva (service) in Hinduism; zakat (almsgiving) and sadaqat (voluntary offerings) in Islam; and of bhiksha (food given as alms) in Buddhism emphasize giving. The significant milestones in Evolution of Responsible business since 2013 are as follows: Year Significant Milestones 2013 Enactment of the Companies Act, 2013 2014 Section 135 of the Companies Act, 2013 on Corporate Social Responsibility (CSR) comes in to force. 2015 High Level Committee on CSR (HLC-2015) under the chairmanship of Shri. Anil Baijal makes recommendations on the CSR framework and stakeholder concerns. 2015 SEBI extends BRR reporting to top 500 companies by market capitalization. 2016 Companies Law Committee reviews the recommendations of HLC-2015 for adoption. 2018 The Second High-Level Committee on CSR constituted under the Chairmanship of Shri. Injeti Srinivas, Secretary, Corporate Affairs to review the CSR framework 2018 Committee on Business Responsibility reporting constituted under the chairmanship of Shri. Gyaneshwar Kumar Singh, Joint Secretary, Corporate Affairs 2018 Zero Draft of National Action Plan on Business and Human Rights released by Ministry of Corporate Affairs 2019 National Guidelines on Responsible Business Conduct released. 2019 SEBI extends BRR reporting to top 1000 companies by market capitalization. 2021 SEBI introduces the Business Responsibility and Sustainability Reporting in lieu of BRR and made it mandatory for the top 1000 companies by market capitalisation. Corporate Social Responsibility activity is a tool to increase the reputation of the company in the eyes of society. It acts as a new business strategy to reduce investment risks and maximise profits by taking all the key stakeholders into confidence. The proponents of this perspective often include corporate social responsibility in their advertising and social marketing initiatives.