Mumbai, October 14
Reliance Industries chairman Mukesh Ambani, the richest Indian, comes third among philanthropists, in a list that is led by Shiv Nadar of the technology company HCL. Azim Premji, who created headlines by announcing a USD 21 billion commitment to charity, is second in the Edelgive Hurun India Philanthropy List 2019.
Corporate families had championing social causes for long, but the Companies Act 2013 made it mandatory for entities above a certain threshold to devote 2 per cent of their profit to CSR. The overall philanthropic contributions also nearly doubled to Rs 4,391 crore, with nearly half of the contributions having come in individual donations, while the rest have come from companies. There has been an uptick in the percentage of wealth that has been parted with by the rich families, shows the list. — PTI
from The Tribune https://ift.tt/35wO5AK
via Today’s News Headlines
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