Modi Asks PSU Banks To Work On A Single CSR Project
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As per the revised Companies Act, corporate houses have to spend at least 2% of their net profit for social welfare schemes under CSR. Banks, which come under the Banking Regulations Act, are exempted from the Companies Act. However, as per a directive by the Reserve
"During the gathering, the PM pointed out that pooling of resources of all
State Bank of India (SBI) had already written to RBI, asking for its approval to establish
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