CSR is the buzz word these days. Several Countries are making it a mandatory exercise to be done by the companies so as to determine the Social Presence of the business houses. Internationally numerous reporting frameworks are underway. The major international initiatives include the United Nations Environment Program Finance Initiative (UNEP FI), Global Reporting Initiative (GRI), Equator Principles, Collavecchio Declaration on Financial Institutions, London Principles, etc.
Vying international best reporting practices it becomes imperative for India to have a policy on CSR. Till date various guiding principles have been formulated by different authorities’ viz. Reserve Bank of India, Ministry of Heavy Industries & Public Enterprises (Department of Public Enterprises) and the Ministry of Corporate Affairs.
The objective of this paper is to give an understanding of the term Corporate Social Responsibility with a synopsis of the various guidelines and also to give a critical analysis of CSR implementation in India.