Prepare a brief note on National Guidelines on Responsible Business Conduct (NGRBC).

The Ministry of Corporate Affairs has revised the National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business, 2011 (NVGs) and has released the National Guidelines on Responsible Business Conduct (NGRBC) in March 2019. These guidelines urge businesses to actualise the principles in letter and spirit. The annexure 3 of the Guidelines details the reporting framework associated with the National Guidelines for Responsible Business Conduct. It consists of three sections: Section A - General Disclosures, covering operational, financial and ownership related information. Section B - Management and Process Disclosures covering the structures, policies and processes to integrate the Guidelines and Section C - Principle-wise Performance Indicators covering how well businesses are performing in pursuit of these Guidelines. Businesses may use this reporting framework to voluntarily disclose their commitment to and performance against their economic, social and environmental impacts. A growing number of businesses are already doing this and are reporting several benefits, internal and external, as a result of their commitment to disclosure and reporting.