The Indian Institute of Corporate Affairs (IICA) and Grant Thornton India have signed a memorandum of understanding (MoU) to develop capacity of Indian companies to implement their corporate social responsibility (CSR) effectively.
According to Ministry of Corporate Affairs, the objective of the MoU, initialled Tuesday, is to implement the new CSR rules laid down as per the amended companies act of 2013 with IICA partnership.
Under the new regulation, CSR has been made mandatory and there are provisions of penalties in case of failure.
