https://www.taxtmi.com/news?id=17828 CSR obligations under the Companies Act do not apply to most Public Sector Banks; IDBI and BMB have reported specific CSR allocations. Banks may make voluntary contributions or donations in a financial year subject to Board approval and regulatory guidance requiring plans for sustainable development and ongoing review. Loss-making banks face a constrained donation allowance; all CSR spending by banks is voluntary and governed by each bank's CSR policy, focus areas and budget. en-us Sat, 08 Apr 2017 10:17:33 +0530 Sat, 08 Apr 2017 10:17:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17828 CSR obligations under the Companies Act do not apply to most Public Sector Banks; IDBI and BMB have reported specific CSR allocations. Banks may make voluntary contributions or donations in a financial year subject to Board approval and regulatory guidance requiring plans for sustainable development and ongoing review. Loss-making banks face a constrained donation allowance; all CSR spending by banks is voluntary and governed by each bank's CSR policy, focus areas and budget. News - Sat, 08 Apr 2017 10:17:33 +0530 https://www.taxtmi.com/news?id=17828