National CSR Exchange Portal is an initiative by Ministry of Corporate Affairs, Government of India to establish an interactive platform for CSR Stakeholders. The National CSR Exchange Portal shall serve as an e-marketplace hosting PAN India social welfare projects where stakeholders such as Implementing agencies can put up its ongoing projects and companies can select projects for CSR Spending as per their preferences and vice versa.
The Exchange Portal has been developed on the basis of recommendations of High Level Committee on Corporate Social Responsibility 2018. An Advisory cum Technical Committee was formed for the development of the portal. The Committee was represented by different CSR Stakeholders – CSR Practitioners, Technical Experts and Civil Society Organizations. The Committee apprised of BSE Sammaan which was an initiative of MCA Think Tank: Indian Institute of Corporate Affairs, Confederation of Indian Industry and Bombay Stock Exchange which offered similar functionalities as envisaged for National CSR Exchange Portal.
Why National CSR Exchange Portal?
Social development is not a core expertise for most Corporates, most of the companies choose an implementing agency for executing projects. One of the recurring issues for companies to carry out CSR activities has been the identification of suitable Implementing Agencies (IAs). This Exchange Portal will help Corporates identify suitable Implementing Agencies for successful implementation of their CSR Projects reducing their transaction cost.
National CSR Exchange Portal also helps overcoming a common challenge cited by Corporates for failing to fulfil their CSR obligations “inability to find suitable projects” based on their CSR Policy. CSR Exchange Portal resolves this issue by providing a platform to view projects proposed by various implementing agencies (IAs). It will allow them to list their CSR projects for raising funds from corporates.
There are a large number of Non-Government Agencies (NGOs) that are scouting for funds for their projects that could fit in the domain of CSR. National CSR Exchange Portal will help in connecting the Corporates and Implementing Agencies to work for the betterment of the country.