The National Payments Corporation of India recently issued a circular stating that all merchant transactions done through PPI will be charged an interchange fee of 1.1% on the transaction amount of more than Rs.2000. However, all bank to bank UPI transactions are still free.
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Dr. Soumitro Chakraborty CEO of Fiinovation Spoke at CII's 8th Regional Conference on CSR & emphasised on the role private sector can play in landscaping a progressive India by working out the algorithm.
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Fiinovation, a prominent CSR consulting firm, utilizes LinkedIn effectively to engage stakeholders, offer valuable insights, and advertise career prospects.
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The calculation of average net profit for CSR expenditure must adhere to Section 198 of the Act and exclude items outlined in Rule 2(1)(h) of the Companies (CSR Policy) Rules, 2014. For comprehensive details, please view the video.
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Did you know? According to CSR regulations, companies must open a separate account for unspent CSR funds.
This account ensures transparency and accountability in utilizing CSR budgets.
Stay compliant and make a positive impact by managing CSR funds responsibly.
If a corporation exceeds the stipulated amount outlined in Section 135, any surplus expenditure can be deducted from the obligatory 2% CSR spending in subsequent fiscal years.
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By harnessing the collective expertise of its team and forging strategic partnerships, Fiinovation continues to make a tangible difference in the lives of millions.
The CEO's leadership ethos, characterized by integrity, empathy, and foresight, has propelled Fiinovation to the forefront of the CSR landscape, earning the company accolades for its unwavering commitment to social impact.
Fiinovation highlights the importance of impact assessment, emphasizing its crucial role in evaluating both the tangible and intangible outcomes of CSR initiatives on beneficiaries' lives.
This process enables a comprehensive understanding of the economic, social, and environmental changes brought about by the program, facilitating informed decision-making and resource allocation.