Corporate Social Responsibility Practices by Minerals and Metals Trading Corporation (Mmtc) Ltd

Corporate social responsibility (CSR) is the responsibility recognized by the companies for acting in a socially responsible manner integrated into a business model. CSR is the commitment of the business organization for the equitable growth and sustainable development of the society. It is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives. In India, Public Sector Enterprises (PSE’s) play a significant role in the economic and social growth and development. They are regularly concerned about the economic and social development, employment generation, poverty eradication as well as community welfare at large. CSR practices become mandatory by every company after the implementation of Indian Companies Act, 2013 (Chapter, VI, Sec. 135). There are numbers of Indian Public Sector companies regularly works towards the economic growth of the country as well as social development. MMTC Ltd. is one of the largest public sector trading company of India which deals in trading of minerals, metals, iron ore, agro products, jems and jewellary items around the globe. The company also concern about the CSR practices as its core focus on major areas as prescribed by the Government of India. The present study is an attempt to discuss and evaluate the corporate social responsibility practices by Minerals and Metals Trading Corporation (MMTC) of India Ltd in the light of Government’s CSR policy. The study highlights the areas where the company has completed projects under CSR activities and its impact on the company’s performance during the last ten years. The study also focuses on funds allocation and their effective utilization under CSR practices by the company