NALCO to get President’s award for excellent CSR in social development
National Aluminium Company Limited (NALCO), an Odisha-based Navaratna Company has been selected for President’s award for utilisation of Corporate Social Responsibility (CSR) fund in social development. NALCO was selected for its Aliali Jhia Scheme.
About Aliali Jhia
In 2015 NALCO started a scheme called Aliali Jhia. The scheme was on the line of Beti Bachao Beti Padhao to adapt and promote the poor and talented girls for education.
It aimed to promote the education of Girls of BPL (Below Poverty Line) families.
Under this scheme, NALCO adopted 416 girls from BPL families of 66 villages in Anugul and Koraput districts of Odisha. These girls are reading in 45 different schools and under this scheme Company is bearing all expenditure for education and promotion of talent from 8th to 10th class.
Scheme is now joined by employees of the company.
About National Aluminium Company Limited
NALCO is a Navratna CPSE (Central Public Sector Enterprises) under Union Ministry of Mines. Centre Government holds 52% equity of NALCO.
It was established in 1981, with its registered office at Bhubaneswar, Odisha.
It is one of the largest integrated primary producer of Aluminium in Asia.
It encompasses entire vale chain from bauxite mining, alumina refining, aluminium smelting and casting, power generation, rail and port operations.
What is Corporate Social Responsibility?
CSR is funding and grants process undertaken by corporate sector under which they provide financial and other support to Non-Profit Organisations (NGOs). Under Companies Act, 2013 it is a mandatory provision for companies to provide a contribution of 2% of average of their net profits.
Month: Current Affairs - June, 2019