Three Give2Asia partners have been named finalists for the Google Impact Challenge India, which awards grants to Indian non-profits who use technology to tackle the world’s toughest problems. You can vote for up to four of the finalists to help decide who will win RS 3 cror Global Impact Grant, worth approximately US$500,000. On Oct. 31, all finalists will present their projects to a panel of judges, who will select three winners. The fan favorite, decided by public vote, will also be announced and received Rs 3 Cror award. Learn more about the finalists below and vote for your favorites here.
On August 8 2013, the Rajya Sabha – the upper house of Indian parliament – passed the much-awaited new Companies Bill which will replace the nearly 60-year-old Indian Companies Act of 1956. Corporate Affairs Minister Sachin Pilot termed the passage of the legislation a “historic feat”. The Lok Sabha (lower house) approved the bill in December.
The new law, which must be approved by President Pranab Mukherjee before it becomes law, will make the following changes to Indian businesses:
- Companies that meet a certain set of criteria will be required to spend at least two percent of its average profits over the last three years on Corporate Social Responsibility (CSR)
- One-third of corporate board members must be independent directors to ensure transparency.
- Corporate boards must include at least one woman.
- Companies unable to comply with the CSR requirement would be required to provide an explanation or face penalties.
By Charles Ostertag
Over the past several years, India has been updating its corporate law and legal framework to increase transparency, accountability, and align with international business standards. The primary focus of these efforts has been the revision of the Companies Act of 1956.
On December 18, 2012, the Lok Sabha (India’s lower house of parliament) approved the Companies Bill, which, when finally approved, will replace the Companies Act of 1956. Currently, the Companies Bill awaits approval by the Rajya Sabha (India’s upper house of parliament) and will thereafter likely receive assent by the President of India.
The Bill, as approved by the Lok Sabha, consists of 470 sections and contains new provisions dealing with insider trading, independent directors, class actions, a one person company, “sick” companies, fraud, officers in default, and mandatory corporate social responsibility (“CSR”).Continue Reading
Give2Asia fiscal sponsorship partner Chintan Environmental Research & Action Group recently released a documentary in conjunction with Safai Sena, an association of waste-pickers, itinerant buyers and small waste dealers. The film chronicles the journey of two waste workers from New Delhi: Aasma Bibi and Jai Prakash Choudhary (aka Santu ji). Both of them are also activists with Safai Sena.
The Civil Society @ Crossroads Initiative is a global effort to discuss the challenges and opportunities of building civil society around the world. Over the past 18 months, regional focal institutions in 16 countries have worked with local partners to identify and contribute relevant trends and case studies. The result is the recently published Civil Society @ Crossroads: Shifts, Challenges, Options, a report that attempts to answer the question, “What are the roles, capacities, contributions and limitations of civil society in the changing local and global context?”Continue Reading
Dasra, an Indian strategic philanthropy foundation, studied the urban sanitation ecosystem, one of India’s most critical development challenges. In preparing the report, Dasra spoke to 25 experts from across government, corporates, non-profits, academia, social businesses and international development agencies. It also formed an Advisory Committee comprised of individuals from among the 25 experts to guide its research, report framework and recommendations.Continue Reading
From The Economic Times:
NEW DELHI: India today advocated an effective international coordination system to facilitate immediate visa and airport facilitation for disaster relief and rescue teams.
Home Minister Sushilkumar Shinde said there was a need to lay down a system for effective coordination of international assistance following earthquakes.