CSR Policy

Corporate Social Responsibility policy adopted by CreditAccess Grameen Limited (Formerly known as Grameen Koota Financial Services Pvt Ltd)


  1. Introduction

CreditAccess Grameen Limited in compliance with Section 135 of the Companies Act, 2013, is incorporating in its structure Corporate Social Responsibility projects through this Corporate Social responsibility (CSR) Policy. This Policy covers all the internal dimensions of the CSR structure and further captures and sets out the process of implementation of the CSR related activities.

  1. Objective
  • To ensure implementation of a policy framework that stimulates, fosters, recognizes, supports and facilitates continuing growth and application of the best practice in CSR.
  • To bring sustainable development in the identified areas (as specified below) selected by the CSR committee as the focal point of the CreditAccess Grameen CSR Policy.
  1. Scope

This Policy shall apply to all the CSR projects undertaken in any branch or office of CreditAccess Grameen, whether such project is executed in collaboration with any other company or on its own. It shall also apply to all the employees of CreditAccess Grameen, whether directly or indirectly involved with any of the below mentioned CSR projects.

  1. CreditAccess Grameen CSR Committee
  • Board of Directors of CreditAccess Grameen will constitute a Board Committee to govern and oversee the CSR activities of the Company. The Committee will be headed by Independent directors and majority of committee members will be of non-executive nature.
  • The CSR Committee of the Board will meet at least once in every 6 (six) months in a year.
  1. Identified Areas for CreditAccess Grameen CSR Projects

In consonance with the activities specified in the Schedule VII of the Companies Act, 2013, the CreditAccess Grameen CSR Committee has identified the below areas, for the accomplishment of which CreditAccess Grameen will structure its CSR Policy:

  • Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water.
  • Promoting education, including special education and employment enhancing vocational skills especially among children, women, elderly and the differently abled and livelihood enhancement projects.
  1. Implementation Agency

CreditAccess Grameen has chosen Navya Disha Trust to implement its CSR activities. Navya Disha Trust is registered in Nov. 2005 (Registration No. BNG(U)-JNR-IV/422/2005- 2006) as non-profit organization having tax exemption status under 80G & 12A of Income Tax department. Navya Disha since 2007 has been successfully been working with CreditAccess Grameen in implementing various non-financial activities in the areas of health care, special education to children, water, sanitation, Indoor air pollution, training women on financial literacy, entrepreneurship, vocational training for rural youth etc., across the operational areas of CreditAccess Grameen. Navya Disha has raised grants from various national & international donor agencies apart from receiving financial contributions from CreditAccess Grameen.

CreditAccess Grameen would like to leverage the expertise and collaborate with Navya Disha by providing it with financial support and working with them to develop & implement the projects across the working areas of the company in the areas of water, sanitation, special education to children and poverty alleviation projects. Both institutions agree to work on the CSR projects mentioned below as they share the vision of creating clean, healthy and sustainable livelihoods for the development of the country.

CreditAccess Grameen would provide up to 5% of its profits or Rs 5.0 cr, whichever is lower, for the projects which would be implemented in the working areas of the company by Navya Disha every year.

Provided, if the minimum contribution towards CSR as per the Companies Act, 2013 is not covered within 5% or 5 Cr (whichever applicable), the contribution shall be maximum of contribution to CSR as the statutory requirement.

  1. Locus Of CSR Projects

The CSR Projects would be implemented in all the operational areas of CreditAccess Grameen as the company expands its operations.

  1. Structure Of CSR Projects

CreditAccess Grameen CSR Projects neither include any activity undertaken in the normal course of business of CreditAccess Grameen nor include contribution to any political party under section 182 of the Companies Act, 2013. For the accomplishment of the above identified areas, CreditAccess Grameen would work in partnership with Navya Disha Trust, a public charitable Trust which specializes in the areas of water & sanitation to develop & implement the following projects as suggested by the CSR Committee and such projects have been duly approved by the Board of Directors:

Water & Sanitation: The objective of this project would be to provide support to poor households both in rural & urban areas to have access to safe sanitation systems and safe drinking water. In order to achieve this objective CreditAccess Grameen would provide grant funding to Navya Disha who specialize in the areas of water & sanitation to develop projects & implement in the working areas of CreditAccess Grameen.

Special Education to Children: The objective of this program is to create responsible future citizens by providing awareness on non-traditional education topics which are not covered in regular school syllabus. The target group includes school children in the age group of 6 to 16. The schools include government, private, aided and un-aided schools. The topics chosen for this program – Child Rights, Water, Sanitation and Hygiene, Prevention of Child Sexual Abuse, Financial Literacy, Waste Management and Environment

Extreme Poverty Alleviation Project: There are several people who are struggling to meet their basic needs in the society. These members cannot be reached by microfinance activities. These people are suffering in life as they are unable to engage in meaningful livelihood activities and are surviving with very little support from the society. The project aim is to identify such struggling members in the society and help them to come out of extreme poverty by providing them technical, financial, medical & psychological support. Institutions like Grameen Bank, Bangladesh & Brac have developed & successfully implemented Extreme Poverty Alleviation programs. CreditAccess Grameen would work with Navya Disha to develop similar projects and implement it in its areas of operations.

  1. Finance for CSR Projects
  • Navya Disha shall present to the CreditAccess Grameen CSR Committee of the Board its annual plan of activities along with budgets beginning of every year.
  • CreditAccess Grameen CSR Committee shall present to the Board the details of the projects & budgets approved.
  • CreditAccess Grameen would release 50% of the amount provided within 30 days of approval of the annual audited financial statements and balance within 6 months of first release after ascertaining the progress.
  • Navya Disha shall submit a half yearly progress and status report on the activities and budgets utilized in line with the CSR requirements of the Companies Act to the CreditAccess Grameen CSR Committee.
  • CreditAccess Grameen would engage an external evaluator (either CA or any other professional firm) to evaluate the project achievements and verify & confirm utilization of the budgets on an annual basis at its own cost.
  1. Training of Employees

Navya Disha will train its own employees as well as personnel of CreditAccess Grameen to build their CSR capabilities. Any expenditure incurred therein will not exceed five percent of the total CSR contribution made by CreditAccess Grameen in the respective financial year.

  1. Agreement between CreditAccess Grameen and Implementation Agency

CreditAccess Grameen would enter into an agreement with Navya Disha Trust detailing the roles and responsibilities of each party. Navya Disha would take the responsibility of acting as the CSR implementing agency of CreditAccess Grameen & implement the CSR projects in the operational areas of CreditAccess Grameen. CreditAccess Grameen would provide financial support to Navya Disha for implementing the projects of water, sanitation, special education to children within the overall financial assistance from CreditAccess Grameen would be limited to a maximum of 5% of its profits or Rs 5.0 cr, whichever is lower. CreditAccess Grameen would also provide support in mobilizing the community and organizing workshops. Navya Disha would present to CreditAccess Grameen CSR Committee annual budgets, activities undertaken, project progress & status, annual audited financial statements & annual auditors fund utilization certificate. Navya Disha will ensure it continues to hold tax exemption status under 80G and 12A of income tax act. Navya Disha can continue to raise more funds from various national and international donor agencies for its other projects.

12. Reporting and Monitoring

  • Navya Disha would provide detailed report of activities and budgets utilized as per the companies act format to the CreditAccess Grameen CSR committee.
  • CreditAccess Grameen CSR Committee would monitor the implementation of the CSR projects is in line with the companies act and the funds provided by the company are utilized by Navya Disha appropriately and report to the Board of Directors of CreditAccess Grameen
  • The Board of Directors will submit a report, the format of which is specified under the Annexure to the Companies (Corporate Social Responsibility Policy) Rules, 2014. Such report will be submitted by the Board of Directors in the annual general meeting pursuant to sub-section (3) of the section 134 of the Companies Act, 2013.
  • If for any reason Navya Disha is not able to utilize the entire funds provided by the company, decision on such unutilized funds would be taken by the CreditAccess Grameen CSR Committee from time to time.