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74 Annual Report 2014-2015
Directors’ Report
S.
No.
CSR Project or
activity identified
Sector in which
the project is
covered
Projects or programs
1. Local area or other
2. Specify the state and
district where projects
or programs were
undertaken
Amount
outlay
(budget)
project or
program
wise
(` million)
Amount
spent on the
projects or
programs
Sub-heads
1. Direct
expenditure
on projects
or programs
2. Overheads
(` million)
Cumulative
expenditure
upto the
reporting
period
Amount
spent directly
or through
implementing
agency*
8. Financial
Counsellling
Promoting
education
At multiple centres 15.0 9.2 9.2 Disha Trust set
up to assist
consumers in
financial crisis,
counselling and
providing options.
9. Miscellaneous – – – 5.9 5.9 –
6. In case the company has failed to spend the 2% of the average net profits of the last three financial years
or any part thereof, the company shall provide the reasons for not spending the amount in its Board
report.
The amount spent was ` 1.56 billion, marginally lower than 2% of average net profits of the last three financial years.
The lower spend vis-à-vis the budget was due to lower than budgeted fund requirement from implementing agencies
and lower than anticipated direct spends.
7. A responsibility statement of the CSR Committee that the implementation and monitoring of CSR Policy,
is in compliance with CSR objectives and Policy of the company.
The CSR Committee hereby confirms that the implementation and monitoring of CSR activities is in compliance with
CSR objectives and the CSR Policy of the company.
Chanda Kochhar M. S. Ramachandran
Managing Director & CEO CSR Committee Chairman
May 13, 2015