Corporate Social Responsibility–a new levy is a likelihood!


As per indications received from different quarters including media, the Government is most likely to come out with more stringent a measure to ensure safety and security to the investors. Financial undertakings dealing in different trades may be asked to spare 2% of their profits (say as a levy) to be exclusively used for this purpose. The idea behind such a move is to fix necessary responsibility on different corporate bodies to have a bigger focus on social goals instead of just aiming at profits only. Financial agencies like banks, insurance companies, besides the share markets are the areas to be covered under the scheme. This measure is aimed at providing adequate security to the investors and depositors, who every now and then are the victims of cheating and bungling in the hands of different companies dealing in borrowings and lendings in some name or the other. Certain companies, as reported from time to time, disappeared from the market like they never existed. If the measures so initiated take a tangible shape in days to come, this is certainly a welcome move to provide due relief to those who take the risk of investing/ depositing their hard earned money with corporate bodies and various other companies.

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