Fiinovation webinar on CSR the new understanding and how to promote affirmative action

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(No Transcript)
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Webinar Objectives

• Introduction to The Companies Act 2013
• Understanding the role scope of CSR and
  Affirmative Action
• Strategizing CSR for improving standard of living
  of the marginalised
• Highlighting efforts of Affirmative Action by
  India Inc
• Scrutinising company's performance beyond
  (brand building, consumer trust, increased
  outreach)

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WEBINAR MENTOR

• Mr. Soumitro Chakraborty
• CEO, Fiinovation

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About Fiinovation

• A CSR based research consultancy working in areas
  of education, livelihood, environment and health
  since last six years
• Assists businesses to support requirements of
  communities by designing and implementation of
  sustainable projects
• Ensuring quality in functioning of organizational
  value chains

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Fiinovation?

• Asias first proposal research laboratory
• Carries out primary and secondary research before
  initiating an implementable project model
• Has sectoral experts carry out Implementation and
  management of innovative-sustainable project
  models
• Uses modern analysis tools and techniques to
  monitor and evaluate the performance and
  sustainability of the projects implemented

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Fiinovation in CSR Ecosystem
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Exposure to CSR
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Corporate Social Responsibility Global
Perspective

• Coined in 1953 with the publication of Bowen's
  'Social Responsibility of Businessmen', which
  posed the question What responsibilities to
  society can business people be reasonably
  expected to assume.
• In 1960s, ambit expanded, suggesting beyond legal
  obligations companies had certain
  responsibilities to society
• In 1990s companies started integrating social and
  environmental concerns in their business
  operations and interactions with their
  stakeholders

• Definition
• A strategic business management concept to obtain
  a balance of economic, environmental and social
  imperatives

• Related Concepts
• Triple Bottom Line, Strategic Philanthropy,
  Shared Value, Corporate Sustainability, Business
  Responsibility

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Contd
UN
EU
OCED
Corporate responsibility involves the search for
an effective "fit" between businesses and the
societies in which they operate.
A management concept whereby companies integrate
social environmental concerns in their business
operations and interactions with their
stakeholders 
The responsibility of enterprises for their
impacts on society
CSR is

• How Corporations make 100 of their profits not
  only how they spend it
• Good business for a good society today and
  tomorrow
• A matter of individual and institutional ethics
• Not a repair center for capitalism
• Not just about compliance, but going beyond it

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Corporate Social Responsibility Indian
Perspective

• Pre-Independence era restricted to charitable and
  religious philanthropy by businessmen rich
  farmers
• Mahatma Gandhi and other socio-political leaders
  urged rich to pool resources for nations
  upliftment, giving rise to trusteeship movement.
• Post Independence, PSUs Govt. led initiatives
  played prime role in social development sector
• Post 1991, the local players were motivated by
  the global standards of CSR due to entry of
  global players in the Indian market

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Synonyms of CSR
Corporate Citizenship
Corporate Responsibility
Corporate Social Responsibility
The extent to which businesses are socially
responsible for meeting legal, ethical and
economic responsibilities placed on them by
shareholders.  Prevalence - Europe
It is the duty and  Rational conduct  expected of 
a  corporation accountability of a  corporation t
o a  code of ethics and to established laws. Prev
alence North America
A companys sense of responsibility towards the
community and environment (both ecological and
social) in which it operates. Prevalence Asia
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Challenges to which CSR is a solution

• Increase in inequality between the private sector
  and the communities resulting in lower human
  development
• Social unrest humanitarian crisis
• Low consumer capacity
• Environmental issues, public health issues etc.

Businesses cannot be successful when the society
around them fails.
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CSR THROUGH THE COMPANIES ACT, 2013
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Essence of Section 135 - The Companies Act, 2013

• Not charity, not philanthropy, not giving
• If not rupee measurable, its not CSR
• Activities that can be considered for CSR
  expenditure are listed under Schedule VII,
  anything other then them will not be considered
• If you are doing CSR, say it out loud in a
  transparent manner by filing a return in the
  prescribed format
• What you spend should add up to 2 of your PBT
• Govt. building an enabling atmosphere, a culture
  of doing for the society

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History Behind The Companies Bill

• India is the first country to quantify the
  mandate
• Argentina, Brazil, Canada, Austria, Belgium,
  France, Denmark, South Africa and China have
  mandatory reporting
• Bill first introduced in 2008, but was withdrawn
  due to dissolution of Lok Sabha
• Again introduced in Parliament in 2009 sent to
  the Standing Committee, which presented its
  report in August, 2010
• The Companies Bill 2011 was again tabled in
  Parliament by the Corporate Affairs Minister in
  2011
• The Act replaced The Companies Act, 1956 (in a
  partial manner) after receiving the assent of
  the President of India in 2013
• Came into force on 12th September, 2013
• On 27th February, 2014, the MCA stated that
  Section 135 of the Act which deals with CSR will
  come into effect from 1st April, 2014

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The Companies Act, 2013 Section 135

• Eligibility A company with
• Annual Turnover of Rs 1,000 crore or more,
• or net worth of Rs 500 crore or more,
• or net profit of Rs 5 crore or more
• Calculation
• Company must spend 2 of its average net profit
  in the preceding three years on CSR

Net Profit (Section 198, Subsection 5) Net
profit to be calculated as profit before tax as
per the books of accounts and shall not include
profits arising from branches outside India
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Implementation Process - CSR

• Board members form a CSR Committee
• CSR Committee drafts CSR Policy
• Identification of CSR activities and target
  beneficiaries
• CSR CSO Partnership
• Implementation of CSR initiatives
• Reporting

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Schedule VII of The Companies Act, 2013
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New
Delhi, the 27th February, 2014 G.S.R,
130(E).-In exercise of the powers conferred by
sub-section (l) of section 467 of the Companies
Act, 20l3 (18 of 2013), the Central Government
hereby makes the following amendments to Schedule
Vll of the said Act, namely - (l) In Schedule
VIl, for items (i) to (x) and the entries
relating thereto, the following items and entries
shall be substituted, namely - (i) eradicating
hunger, poverty and malnutrition, promoting
preventive health care and sanitation and making
available safe drinking water (ii) promoting
education, including special education and
employment enhancing vocation skills especially
among children, women, elderly, and the
differently abled and livelihood enhancement
projects (iii) promoting gender equality,
empowering women, setting up homes and hostels
for women and orphans setting up old age homes,
day care centres and such other facilities for
senior citizens and measures for reducing
inequalities faced by socially and economically
backward groups
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Contd
(iv) ensuring environmental sustainability,
ecological balance, protection of flora and
fauna, animal welfare, agroforestry, conservation
of natural resources and maintaining quality of
soil, air and water (v) protection of national
heritage, alt and culture including restoration
of buildings and sites of historical importance
and works of art setting up public libraries
promotion and development of traditional arts and
handicrafts (vi) measures for the benefit of
armed forces veterans, war widows and their
dependents (vii) training to promote rural
sports, nationally recognised sports, paralympic
sports and Olympic sports (viii) contribution
to the P me Minister's National Relief Fund or
any other fund set up by the Central Government
for socio-economic development and relief and
welfare of the Scheduled Castes, the Scheduled
Tribes, other backward classes, minorities and
women (ix) contributions or funds provided to
technology incubators located within academic
institutions which are approved by the Central
Government (x) rural development projects."
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Contd
MINISTRY OF CORPORATE AFFAIRS Notification New
Delhi, the 6th August, 2014 G.S.R. 568(E).-In
exercise of the powers conferred by sub-section
(1) of section 467 of the Companies Act, 2013 (18
of 2013), the Central Government hereby makes the
following further amendments in Schedule VII of
the said Act, namely- (1) In Schedule VII,
after item (x), the following item and entry
shall be inserted, namely- "(xi) slum area
development. Explanation.- For the purpose of
this item, the term 'slum area' shall mean any
area declared as such by the Central Government
or any State Government or any competent
authority under any law for the time being in
force." (2) This notification shall come into
force on the date of its publication in the
Official Gazette. F.No.1/18/2013-CL-V AMARDEEP
S. BHATIA. Jt. Secy.
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Contd
MINISTRY OF CORPORATE AFFAIRS Notification New
Delhi, the 24th October, 2014 G.S.R. 741(E).- In
exercise of the powers conferred by sub-section
(1) of section 467 of the Companies Act, 2013 (18
of 2013), the Central Government hereby makes the
following further amendments to Schedule VII of
the said Act, namely- (i) In item (i). after the
words "and sanitation". the words "including
contribution to the Swach Bharat Kosh set-up by
the Central Government for the promotion of
sanitation" shall be inserted (ii) In item (iv).
after the words "and water". the words "including
contribution to the Clean Ganga Fund set-up by
the Central Government for the promotion of
sanitation" shall be inserted. 2. This
notification shall come into force on the date of
its publication in the Official Gazette. F.No.
1/18/2013-CL-V AMARDEEP SINGH BHATIA. Jt. Secy.
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ESTABLISHING LINKAGE BETWEEN CSR AA
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Understanding Affirmative Action - Globally
Known as
Employment Equity in Canada
Affirmative Action in USA
Positive Action in UK
Requires employers to engage in
proactive employment practices to increase the
representation of four designated groups women,
people with disabilities, Aboriginal peoples, and
visible minorities
promotion of people based on belonging to
non majority identity groups in the workplace,
educational institutions and positions in society
focus on issues such as education and employment,
specifically granting special consideration to
racial minorities and women who have been
historically excluded groups
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Understanding Affirmative Action - Globally

• An action favouring those who tend to suffer from
  discrimination positive discrimination
• AA reverses longstanding discriminatory
  tendencies in the society
• For people of a certain caste, gender, sexual
  orientation, race, or ethnic background
• AA provides supposedly fairer conditions and
  corrects past injustices

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Different Approaches to AA
Affirmative Action
Affirmative action Through CSR

• Recruiting employees or providing opportunities
  in the recruitment process for SC/ST communities
• Procuring from SC/ST Vendors
• Offering solutions to address the needs and
  challenges of the SC/ST communities

• Implementing CSR Activities as per Schedule VII
  of The Companies Act, 2013
• Targeting SC/ST communities

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Affirmative Action in India

• Reservations specify that a proportion of a
  minority group must be selected for education or
  job or other benefits
• Regardless of them being under-qualified
• Reverse discrimination
• Justification for reverse discrimination is
  somewhat ambiguous
• Based on retributive justice (past injustices
  must be paid for)
• Constitution makers have proclaimed by
  incorporating various provisions in the
  Constitution of India indicating that Scheduled
  Caste and Scheduled Tribe are by and large
  backward in comparison with other communities in
  the country

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Case Study Swabhimaan

• Should Have Benefitted From
• Self-Employment Scheme of Liberation and
  Rehabilitation for Scavengers
• Indira Awas Yojna
• MGNREGA, Swaranjayanti Gram Swarozgar Yojana
• Atal Pension Yojana
• Jan Dhan Yojna
• Pradhan Mantri Jeevan Jyoti Bima Yojana
• Rashtriya Swasthya Bima Yojana
• Indira Gandhi Matritva Sahyog Yojana
• Integrated Child Development Services
• And Swavalamban among others

• Background
• Belongs to SC Community
• Occupation Manual Scavenger
• Education Illiterate
• House Not Concrete
• Children 2

She couldnt benefit because?
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Challenges of SC/STs

• Lack of awareness of welfare schemes
• Discrimination continues to occur in many
  different open, covert and subtle ways today
  despite the Constitution abolishing it under
  Article 17
• Increased atrocities against SCs STs compared
  to others
• Lack of political will to convert provisions into
  fundamental rights
• Lack of opportunities for education and
  employment
• Low Representation in Public Services and the
  Higher Judiciary
• Increase in backlog vacancies due to lack of
  proper mechanism for overall human development

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Contd

• Small land holding, landless labourers, low
  productivity in agriculture, lack of alternative
  livelihood opportunities
• High incidence of migration
• Lack of vocational skills and adequate
  infrastructure
• Financial constraints for entrepreneurship
• Complicated nature of Financial Institutions
• Low impact of Affirmative Action by private and
  public sector undertakings

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Population Classification
Indicator Absolute Absolute Percentage Percentage Growth rate (2001-11)
Indicator 2001 2011 2001 2011 Growth rate (2001-11)
Total Population Total Population Total Population Total Population Total Population Total Population
Total 1,02,86,10,328 1,21,05,69,573 100.0 100.0 17.7
Rural 74,23,02,537 83,34,63,448 100.0 100.0 12.3
Urban 28,63,07,791 37,71,06,125 100.0 100.0 31.7
Scheduled Castes Scheduled Castes Scheduled Castes Scheduled Castes Scheduled Castes Scheduled Castes
Total 16,66,35,700 20,13,78,086 16.2 16.6 20.8
Rural 13,30,10,878 15,38,50,562 17.9 18.5 15.7
Urban 3,36,24,822 4,75,27,524 11.7 12.6 41.3
Scheduled Tribes Scheduled Tribes Scheduled Tribes Scheduled Tribes Scheduled Tribes Scheduled Tribes
Total 8,43,26,240 10,42,81,034 8.2 8.6 23.7
Rural 7,73,38,597 9,38,19,162 10.4 11.3 21.3
Urban 69,87,643 1,04,61,872 2.4 2.8 49.7
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Concentration - SCs
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Concentration - SCs
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Poverty Ratio for Social Groups

• In rural areas, Scheduled Tribes exhibit the
  highest level of poverty (47.4), followed by
  Scheduled Castes (SCs), (42.3), and Other
  Backward Castes (OBC), (31.9), against 33.8 for
  all classes.
• In urban areas, SCs have HCR of 34.1 followed by
  STs (30.4) and OBC (24.3) against 20.9 for all
  classes.
• In rural Bihar and Chhattisgarh, nearly two-third
  of SCs and STs are poor, whereas in states such
  as Manipur, Orissa and Uttar Pradesh the poverty
  ratio for these groups is more than half.

Source Press Note on Poverty Estimates, 2009-10
- GOI, Planning Commission, March 2012
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Poverty Percentage among Social Groups
Rural
Urban
--- Data not available in the official estimates
for 1993-94 Source Planning Commission
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Total SC ST Population Top 5 Bottom 5
(Census, 2011)
Total SC Population
Total ST Population
Top 5 States/UTs
Bottom 5 States/UTs
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Total SC ST Population Top 5 Bottom 5
(Census, 2011) (Major States States having
Population 10 million and above)
Total SC Population
Total ST Population
Top 5 States/UTs
Bottom 5 States/UTs
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Affirmative Action - Indian Perspective
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Affirmative Action - GOI
Category as per GoI
Reservation Percentage as per GOI

Scheduled Castes (SC) 15.0
Scheduled Tribes (ST) 7.5
Other Backward Classes (OBC) 27
Total constitutional percentage 49.5
General (open to all incl. SC/ST/OBC) 50.5
Source Ministry of Personnel Public Grievances
Pension, GOI
It was this consciousness and awareness of the
Constitution-makers about the neglected position
of certain section of Indian Society which
inspired them to make provisions of reservation
in favour of Backward Classes, Scheduled Caste
and Schedule Tribe citizens
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Govt. Schemes for SCs/STs

• Self-Employment Scheme of Liberation and
  Rehabilitation for Scavengers
• Scholarship/stipend to aspiring SC/ST Pilot
  Trainees
• Special Central Assistance for Scheduled Castes
  Component Plan
• Pre and Post Matric Scholarship Scheme
• Machinery for implementation of Protection for
  Civil Rights Act, 1955 and Protection for Civil
  Right Act, 1989
• Girls Hostels for SCs, Boys Hostels for SCs
• Assistance to Voluntary Organisations for welfare
  of Scheduled Castes
• National Scheduled Castes Finance and Development
  Corporation - Credit Based/Self-Employment Loan
  Schemes , Non-Credit Based/Skill
  Entrepreneurial Development Training Programmes
• National Vector Borne Disease Control Programme

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Contd

• National Programme for Control of Blindness
• Vocational Training in Tribal Areas
• Investment/Price support to TRIFED/ Market
  Development of Tribal Products/ Produce
• Support to National/State Scheduled Tribes
  Finance Development Corporations
• Swaranjayanti Gram Swarozgar Yojana
• Indira Awas Yojana

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Challenges

• Lack of awareness
• Lack of accessibility to schemes
• Lack of monitoring evaluation
• Decentralization of policies, schemes
• Addressing concerns of financial institutions for
  implementation of the provisions
• Lack of social capital

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Affirmative Action Public Sector
Percentage of Reservation in Vacancies (A) Direct
Recruitment
Schedule Castes Schedule Tribes
1 Direct recruitment on an All-India basis by means of Open Competitive Test i.e by written examination 15 7.5
2 Direct recruitment on an All-India basis otherwise than at (i) above i.e. by not conducting written competitive examination 16.67 7.5
3 Direct recruitment to Group C and D posts normally attracting candidates from a locality or a region Vary from State to State and UT to UT Vary from State to State and UT to UT
4 The principle of reservation for SCs and STs, should generally be suitably applied to the extent possible, to work charged posts also except those required for emergiences, like flood relief work, accident restoration and relief etc. The percentage of reservation in such appointments may correspond to what is applicable to Group C and Group D posts in that locality or region
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Contd
Percentage of Reservation in Vacancies (B)
Promotion
Schedule Castes Schedule Tribes
1 Posts filled by promotion through limited Departmental Competitive Examinations within or to Group B, C D in which the element of Direct Recruitment, if any, does not exceed 75 15 7.5
2 Posts filled by promotion made by selection from Group B (Class II) to the lowest rung of category in Group A (Class 1) and in Group B, C D posts in grades or services in which the element of Direct Recruitment, if any, does not exceed 75 15 7.5
3 Posts filled on the basis of seniority subject to fitness in Group A, B, C D posts in grades or services of Direct Recruitment does not exceed 75 15 7.5
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Contd

• A comprehensive Presidential Directive
  incorporating all important instructions on
  reservation for SCs and STs was issued by DPE to
  all the administrative Ministries/Departments
  concerned on 25th April, 1991 for formal issuance
  of the same to CPSEs.
• Reservation for OBCs was made effective w.e.f.
  8.9.1993.

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Affirmative Action - Private Sector

• A policy or action by Indian companies to help in
  the national endeavour for ensuring equal
  opportunity to members of the Scheduled Castes,
  Scheduled Tribes and other marginalized
  communities
• In 2006, PM Manmohan Singh appealed to India Inc
  to incorporate Affirmative Action policies to
  diversify workforce
• Industry bodies responded to PMs call outlined
  basic criteria for Affirmative Action
• DPE guidelines on CSR and Human Resources for
  CPSEs were released in 2010
• NVGs were established by Ministry of Corporate
  Affairs in 2011 which was later adopted by SEBI

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Contd

• According to Partners in Change Survey 2011
• Only 9.5 companies have Affirmative Action
  policy
• 67 doesnt have a formalized policy
• 23.8 did not have a policy
• Tata Conglomerate incorporated Affirmative Action
  focusing on four areas of development
  employment, employability, entrepreneurship and
  education
• Believed to be highest CSR spenders (Rs. 1000
  Crores) for the year 2013-2014
• CII initiatives for SC/ST includes
• Trained 32922 candidates from SC/ST community
• Provided scholarships
• Established skill development centres
• Contributed to improvement of Government Primary
  Schools in 104 districts
• Provided employment (24 eastern region, 16
  western region, 22 northern region, 16.2
  southern region)
• Offered training in entrepreneurship development
  programmes

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Contd

• The Infosys-STP programme, CII-Finishing School
  LABS training programme
• Approximately 800 SC/ST candidates have been
  imparted training in English, communications,
  basic IT, hospitality, customer relations
  sales, bed side patient assistance etc.
• CII and Tata Communications, have partnered with
  Ahmedabads Entrepreneurship Development
  Institute to train 270 SC/ST youth in the
  fundamentals of entrepreneurship
• HUL has a written policy statement on Affirmative
  Action in the workplace
• Also focus on upskilling and continual training
  of employees apart from partnering with
  educational institutions to support and aid
  students from socially disadvantaged sections of
  society
• ITC engagees in affirmative action interventions
  such as skill building and vocational training,
  to enhance employability and generate livelihoods
  for persons from disadvantaged sections of society

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Challenges of Private Sector to AA

• Lack of formalized policies
• Lack of participation
• Risk of unionization
• Lack of will to conduct census within the
  organization
• No incentivisation for vendors
• No entrepreneurship support
• Limited progress on What is Said and What is
  Incentivised

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Affirmative Action CSR The Backdrop

• Challenges at present
• Prevalence of economic inequality due to lack of
  inclusive development
• Rising disparity between the upper strata and the
  economically weaker sections of the society
• Constant friction between the socio-economically
  empowered and left out sections of the society
• Absolute top down approach
• Solutions
• Affirm Action to address challenges of
  marginalized communities
• Rational, feasible, justifiable
  action/initiatives
• Incorporating AA within the CSR policy itself
• CSR Implementing affirm actions leading to
  improved standard of living

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Linking Affirmative Action with CSR

• Generating awareness among the members of
  historically marginalized communities in a
  geographical area.
• Providing educational facilities for children
  from these communities. Rewarding Scholarships to
  meritorious children.
• Providing assistance on health and sanitation
  issues to historically marginalized communities.
• Enhancing entrepreneurial and employability of
  eligible youth from the SC/ST communities.
• Employing trained workforce from SCs/STs
  communities at various levels to carry out
  operations in the organization. For example -
  Deciding on a sourcing a minimal specified
  percentage of material from a SC/ST vendor
  without compromising on quality of the product.

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Affirmative Action CSR Benefits

• An enabling atmosphere for companies to engage in
  social development activities
• Responsibility now aligned with accountability
• CSR AA can be a concept that can travel beyond
  backrooms into boardrooms
• CSR AA can now be a part of companys core
  business strategy
• CSR seen as a tool for brand building, customer
  outreach, employee engagement etc.
• Feel good factor throughout the value chain from
  internal mechanisms to the consumer who picks up
  the final product

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WHY AFFIRMATIVE ACTION CSR?
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Present
Future

Reduce inequality
Reaching out to the suppressed
Providing education, jobs, social benefits etc.
Eradication of Poverty
Empowerment of the marginalized communities Opportunities for Economic Growth

Equitable distribution of income
Sustained accessibility
Create entrepreneurship opportunities strengthen rural economy
Improved Standard of Living
Increasing participation in mainstream society Increasing local trade, higher per capita income
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Present
Future

Supply and Value Chain Management
Restoring and maintaining peace
Ensuring Social Security for all
Inclusive and holistic development for all
Strengthening and capacity building of the workforce Protecting Religious freedom and human rights

Infrastructure development (Schools, Toilets, Warehouses, Housing, Roads)
Tackling Humanitarian Crisis
Social safety nets for the poor
Bridging the economic gap
Creating a balanced workforce mix Protecting interests of minorities and lower castes
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THE ANTICIPATED IMPACT OF AA THROUGH CSR
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Short Term
Long Term

Increased opportunities for the marginalized
Eradication of Poverty
Improved healthcare facilities
Universal education for the marginalized communities
Reduction on healthcare expenditure Food security for all
Increased investments for social development
Increased household incomes
Access to healthcare facilities
Higher enrollment of marginalized children in schools
Improved access to water and sanitation
Higher agriculture production
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Short Term
Long Term

Empowerment of marginalized communities
Increased availability of product services, consumer trust
Protection of Human Rights and Religious Freedom apart from safety of women
Increase in number of economic clusters in India
Higher productivity leading to higher exports
Challenges addressed through smarter solutions
Increased participation of marginalized communities
Increased out reach of companies, brand awareness
Increased awareness about rights women empowerment and laws
Reduction in migration
Increase in number of skilled professionals
Platform for innovation
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The Way Forward

• Need to incorporate Affirmative Action in
  organizational policy
• CSR Affirmative Action to be viewed as an
  opportunity to invest, establish trust interact
  with the target community
• Need to align CSR activities with broader
  national goals, with major focus on inclusive
  development
• Explore partnerships with CSOs for implementation
  of initiatives
• Important to create solutions processes that
  improve Indias HDI ranking
• Stringent implementation of CSR initiatives in
  areas with higher SC/ST population marginalized
  communities.
• Provide smart solutions (renewable energy,
  sanitation and drinking water facilities,
  education, housing, reducing emissions etc.) to
  Indian villages to reduce the burden on Indian
  cities

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Contd

• Promote entrepreneurship among marginalized
  communities to boost rural economy and improve
  the supply chain
• Communicate CSR to not only showcase a
  corporations CSR achievements but create
  goodwill among stakeholders
• Promote Affirmative Action not only in community
  initiatives but workplace, marketplace supply
  chain initiatives
• Creating awareness of the schemes available for
  the welfare of the SCs and STs and linking the
  CSR initiatives with them for sustained benefits
• Mobilizing and empowering SC and ST communities
• Addressing the mindsets of people and encouraging
  participation of all in education, economic
  activities and other societal aspects
• Providing collateral less financial services for
  SCs and STs
• Focus on developing sustainable processes rather
  than investing in assets

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Contributors to the PPT
Jaya Sinha Dy. Director Media Communication,
Fiinovation
Soumitro Chakraborty CEO, Fiinovation
Rahul Choudhury Dy. Manager, Fiinovation
Aditi Singh Programme Manager, Fiinovation
Rohit Srivastava Graphics Designer, Fiinovation