Ensure optimal use of CSR funds: Mysore Scion Yaduveer

Bengaluru, Jan. 7: “Walk extra mile’ in constructively utilising CSR (Corporate Social Responsibility) funds instead of finding easy way of donating these funds,”
appeals Mr Yaduveer Krishnadatta Chamaraja Wadiyar.
Delivering a keynote address during a special session on CSR and Charity Governance, which is part of ongoing the three-day 49th national conference of the Institute of Company Secretaries of India (ICSI) here he says,“Corparates just can’t wish away by stating that their role is over if their CSR funds are transferred to philanthropic accounts such as PM Care Funds. Though, the PM Care Funds is a very good and timely initiative but Corporates must walk extra mile in spending and utilising constructively their CSR funds,” he said.
According to him, the very objective of the CSR fund is to reach out to people who have been deprived of certain facilities, where the company is operating. “Such being the case, what is the use if a company decides to transfer its CSR funds to some charitable trust elsewhere and forget about it. The approach of Corporates handling their CSR must change,” the Mysore scion said.
He also added that the Corporates must also focus on utilising their CSR funds towards protecting the environment in their own surroundings of wherever its units are situated.
Mr Wadiyar said that his grandparents who were rulers of the Mysore Kingdom, did spend huge sums on constructing dams and setting up factories to ensure that welfare programmes reached to the last man standing the queue.
He conceded that whenever a new factory or unit is set up, it does have its adverse impact on the environment but this adverse impact could very well be reduced if the corporates think positively and utilise their CSR funds constructively.
Mr Wadiyar said that environment protection and CSR activity was never a new concept for Indians as these concepts have been integral part of Hindu culture and religion. “Hindu religion and its scriptures be it our epics Ramayana, Mahabharata, Vedas and Upanishads have dwelled upon in length on these subjects,” the Mysore Scion signed off.