The Government may defer the deadline for companies to deposit the unspent portion of their Corporate Social Responsibility (CSR) funds into specified bank accounts in a move aimed at providing some relief in the fight against the COVID-19 and subsequent restrictions. Companies are required to spend at least 2% of their average net profit of the preceding within three financial years on CSR. The Ministry has allowed firms to undertake projects on an ongoing basis on the condition that any unspent amount must be deposited with a scheduled bank within 30 days of the end of the financial year. “Considering the current crisis, we request your esteemed office to consider relaxation by providing extension of the timelines up to June 30, 2021,” the Institute of Company Secretaries of India said in a letter to the Ministry. Experts said that while lockdowns and restrictions are less stringent than last year and companies have adapted to working online, many professionals or their families have been affected by the infection, leaving teams short-staffed.
Which of the following is the Corporate Social responsibility (CSr) initiative of the erstwhile Facebook india to promote women entrepreneurship?
Correct Answer :
Pragati
Solution :
The correct option is Pragati.
Explanation and Logical Reasoning:
Facebook India (now Meta) launched an initiative named 'Pragati' to boost women entrepreneurship in India. The initiative focuses on empowering non-profit organizations working towards women's empowerment and entrepreneurship by providing them with financial grants, mentorship, and technical assistance.
Let's briefly understand why the other options are not the specific CSR initiative of Facebook India mentioned here:
• Shakti: A general term used by various organizations (e.g., Project Shakti by HUL), but not Facebook India's flagship CSR initiative for women entrepreneurs.
• Lean In: A global community and movement founded by Sheryl Sandberg (former COO of Meta/Facebook), focusing on empowering women in their careers generally, but not the specific CSR initiative launched by Facebook India for non-profit grants/entrepreneurship.
• Marching Forward: Not associated as Facebook India's CSR program for women entrepreneurship.
Hence, Pragati is the correct answer.
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