x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   Manav Anand gets first prize in Poem Recitation Competition | One arrested, 28 bovine animals rescued | Progress on Devika project under NRCP reviewed at Udhampur | Female drug supplier arrested with 1.5kg Ganja | Will denial of 1000MW additional power to Jammu be rolled back? | 'They lacked courage to safeguard national interests, puncture Azadi balloon' | Facing influential businessman's wrath, BMO Bishnah attached | Fearing peoples' anger in coming elections Azad, other Cong leaders soften stand on Art 370 | Transfers of SHOs on cards in Kashmir | Former legislator's presence at GMC Kathua's function raises eyebrows | Farooq Abdullah slapped with PSA, an Act introduced by his father 42 years ago | Will take legal course to challenge Farooq Abdullah's detention under PSA: NC | J&K Governor calls on PM Modi | SC allows Azad to visit J-K after he undertakes not to hold any political rally, activity | Azad thanks SC for allowing him to visit Jammu and Kashmir | Dr Sehrish reviews Inf Dept functioning | Delimitation in J&K to begin soon after assuming new status | Home Minister Amit Shah reviews situation in Jammu and Kashmir | GPJ organizes Inter Polytechnic Debate competition | Career Counselling for beginners held at GDC Ramban | YCET organizes Engineer's Day | Farooq’s detention atrocious, unbelievable, unacceptable: Azad | GDC RS Pura launches cleanup campaign | GDC Bishnah launches Swachhata Hi Sewa campaign | RMPS organizes Inter School Debate Competition | World Ozone day celebrated | Ramisht College celebrates "Ozone Layer day" | JAC flags off motorcycle expeditions from Jammu to Kanya Kumari | JU signs MoU with National Kaohsiung University Of Hospitality, Taiwan | GMS city middle felicitate taekwondo player | Hostage crisis: Kishtwar gets 36 CCTVs after 8 years of struggle | First in UT: Govt intends to reflect progress, devp in next budget | J-K SAC approves creation of 127 new posts in office of chief electoral officer | SC asks J&K to restore normalcy in Kashmir keeping in mind national interest, security | Deceased's brother alleges in-laws poisoned her | Commuters suffer as Ghordi- Nallah Mallian road in dilapidated condition | 4 soldiers injured as Pak violates ceasefire in Poonch district | Curfew eased out in Kishtwar after burial of Jamat leader | After Pulwama, JeM's target was Delhi, NCR: NIA | Inaugurated in 2017, two subways at Satwari-Kunjwani stretch still not in use | Phangial road in dilapidated condition, authorities fail to initiate repairs | SC agrees to entertain JKPC plea against abrogation of Article 370 | DBPS appeals Governor to make Hindi official language | SAKRS office bearers level allegations against a leader | KVK-Leh organizes sensitization programme | GDC Billawar organizes Swachhta Pakhwada | AAC meeting held, discusses various development works | CII opens nominations for its woman exemplar program 2020 | Public Negotiation Committee clears 32 cases of land acquisition | Horticulture Deptt organizes awareness camp | Modi Government is committed to develop J&K upto grass root level: Sat Sharma | WCWS organizes free medical camp | Congress is answerable for 40,000 deaths: Anurag Thakur | Delegation of pending cases of SRO 43/120 calls on Kavinder Gupta | JKNPP activists stage protest against new motor vehicle act | Plastic waste management campaign organized | Police arrest 2 burglars, stolen property recovered | Border villages reeling under water shortage | People favour abrogation of Articles-370, 35A: Chrungoo | BJP leaders donate blood at LD Hospital | One drug peddler arrested, 50 gram charas recovered | Reasi Admin encourages women to manufacture cloth bags | Jammu admin braces up for festival season | DG Fire & Emergency Services approves 432 promotion cases | MPEJ expresses concern over conduct of BDC elections | Congress condemns Farooq Abdullah's detention under PSA | New bridge Darhal improves connectivity between 20 villages | Peace bus, trade with PoK remain suspended since March 4 | NAFED begins apple procurement in Anantnag fruit Mandi | Student turnout still low in Kashmir | Farooq Abdullah''s detention under ''outdated'' PSA surprising: JKNPP | J-K police to raise 2 women battalions; recruitment from Sept 23 | JKSSB to conduct written test for Junior Assistant, Technicians (Migrants) posts | ''Janoon'' among people for PoK liberation: Thakur | Dozen injured in multi-vehicle collision on Jammu-Pathankot NH in Samba | Court accepts ACB's closure report against then Director Horticulture | Despite warning from the US Pakistan Army resorts to ceasefire violations | Enhanced penalties under The Motor Vehicles (Amendment) Act, 2019 will work only if enforced honestly | Back Issues  
 
news details
CSR initiative of J&K Bank is for elites
Rs 20 cr spent on Srinagar Golf Course
4/20/2019 6:07:01 AM

Early Times Report
SRINAGAR, Apr 19: Providing funds under Corporate Social Responsibility (CSR) is mandatory for business institutions. There is a law that prescribes minimum of 2% of average net profit of preceding three years to be spent for CSR initiative during the year. After 2014 floods Srinagar Golf Club got damaged due to water-logging for several months. J&K Bank, instead of taking up projects of public importance, spent around Rs 20 crore for up gradation and restoration of this golf course under development of sports.
The fact of the matter is that Srinagar Golf Club is used by elites of Kashmir rather than ordinary people. During his tweet former Chief Minister had criticized the government for what he called government "forcing" J&K Bank to adopt Kashmir Golf Club. In his September 15, 2015 tweet, Omar said that forcing J&K Bank to adopt Kashmir Golf Club under CSR is hardly social responsibility. He had further said that the same money could have been utilized for rural healthcare.
Under CSR activities most of the times banks in their own wisdom contribute towards providing for purchase of machinery for healthcare, basic amenities for travellers using public transport or taking up projects related to arts and culture. In terms of legislation the local area where the bank operates has to be given preference in terms of sponsoring the projects. This is done in the interest of overall society especially the disadvantaged communities.
But it has been observed that J&K Bank has been sponsoring private concerts in the name of art and culture, financing healthcare machinery in the name of public health and developing playing fields like Golf Courses for elite class in the name of sports to spend the CSR funds. With the result this creates chaos and confusion among the bank share-holders and account holders at large.
Sources say that there is no transparency in selection of NGOs and works to be undertaken under CSR by J&K Bank. The exact details of amount spent on CSR initiatives is also not provided. In most of the cases the NGOs and organizations who are the beneficiaries of JK Bank's CSR fund are selected on pick and choose basis.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU