Corporate Social Responsibility Practices by Minerals and Metals Trading Corporation (MMTC) Ltd

Author(s)

MOHD TAQI , MOHD AJMAL ,

Download Full PDF Pages: 72-83 | Views: 1009 | Downloads: 363 | DOI: 10.5281/zenodo.3490032

Volume 7 - October 2018 (10)

Abstract

Corporate social responsibility (CSR) is the responsibility recognized by the companies for acting in a socially responsible manner integrated into a business model. CSR is the commitment of the business organization for the equitable growth and sustainable development of the society. It is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives. In India, Public Sector Enterprises (PSE’s) play a significant role in the economic and social growth and development. They are regularly concerned about the economic and social development, employment generation, poverty eradication as well as community welfare at large. CSR practices become mandatory by every company after the implementation of Indian Companies Act, 2013 (Chapter, VI, Sec. 135). There are numbers of Indian Public Sector companies regularly works towards the economic growth of the country as well as social development. MMTC Ltd. is one of the largest public sector trading company of India which deals in trading of minerals, metals, iron ore, agro products, jems and jewellary items around the globe. The company also concern about the CSR practices as its core focus on major areas as prescribed by the Government of India. The present study is an attempt to discuss and evaluate the corporate social responsibility practices by Minerals and Metals Trading Corporation (MMTC) of India Ltd in the light of Government’s CSR policy. The study highlights the areas where the company has completed projects under CSR activities and its impact on the company’s performance during the last ten years. The study also focuses on funds allocation and their effective utilization under CSR practices by the company.

Keywords

corporate social responsibility, MMTC, public sector, society, funds allocated, funds utilized. 

References

  1. Carroll, A. B. (1991) The Pyramid Of Corporate Social Responsibility: Toward the Moral Management of Organizational Stakeholders, Business Horizons 34, 39–48.
  2. Dubey, P.K. (2017). A study of Corporate Social Responsibility in Bharat Heavy Electricals Limited. Abhinav National Monthly Referred Journal of Research in Commerce and Management, 6(9), 17-27.
  3. Dubey, P.K. (2017). Corporate Social Responsibility Practices in NTPC: A Comparative Study of Top Ten Companies In India, Inspira-Journal of Commerce, Economics & Computer Science (JCECS), 3(2), 185-191
  4. Gautam, R., & Singh, A. (2010). Corporate social responsibility practices in India: A study of top 500 companies. Global Business and Management Research: An International Journal, 2(1), 41-56.
  5. . International Institute for Sustainable Development (IISD) (2011). The triple bottom line. Business and Sustainable Development: A Global Guide.
  6. Kazmi, B. A., Leca, B., & Naccache, P. (2008, August). Corporate Social Responsibility: The Brand New Spirit Of Capitalism. Critical Management Studies Research Workshop, Los Angeles.
  7. Khan M.S.1 and Saxena Shravya (2014). The Study of Corporate Social responsibility (CSR) in Indian Context. Tactful Management Research Journal
  8. Kumar, N. (2014). Corporate Social Responsibility: An Analysis of Impact And Challenges In India. Abhinav-International Monthly Refereed Journal Of Research In Management & Technology,3(5), 97-104.
  9. Loura Jitender, Assistant Director, DGCA, Govt. of India (2014). Corporate Social Responsibility - A Case Study of Select PSU’s Role in Rural Development. International Journal of Management and Social Sciences Research (IJMSSR), 3(2)
  10. Lungu, C. I., Caraiani, C., & Dascălu, C. (2011). Research on corporate social responsibility reporting. The Amfiteatru Economic Journal, 13(29), 117-131.
  11. McWilliams, A., Siegel, D. S., & Wright, P. M. (2006). Corporate social responsibility: Strategic implications. Journal of management studies, 43(1), 1-18.
  12. MMTC (n.d.). Published Annual Reports (2007-08 to 2016-17). Minerals and Metals Trading Corporation (MMTC) of India Ltd., New Delhi.
  13. MMTC (2011-12 to 2016-17,) Corporate Social Responsibility (CSR) Reports. Minerals and Metals Trading Corporation (MMTC) of India Ltd., New Delhi.
  14. Rath, A.K. (2016). A Critical study on corporate social responsibility activities of Public Sector Undertakings in India and its financial implications. Journal of Business and Management, 18(10), 31-37.
  15. Rath, A.K. (2016). A Critical Study on Corporate Social Responsibility Activities of Public Sector Undertakings in India and its Financial implications. IOSR Journal of Business and Management (IOSR-JBM), 18(10), 31-37
  16. Taqi, M. & Ajmal, M. (2017). A Study of Corporate Social Responsibility Practices in Maharatna Public Sector Enterprises of India. International Journal of Research In Commerce, It & Management, 7(6), 76-84.
  17. Tiwari Usha (2014). Corporate Social Responsibility (CSR) study on NTPC Vindhya Nagar, Singrauli (MP) India. Abhinav national monthly refereed journal of Research in Commerce and Management.

Cite this Article: