SMFG India Credit Wins Golden Peacock Award for Corporate Social Responsibility 2024

SMFG India Credit Wins Golden Peacock Award for Corporate Social Responsibility 2024

SMFG India Credit has been honored with the prestigious Golden Peacock Award for Corporate Social Responsibility (CSR) 2024. This award recognizes organizations that have successfully integrated social and environmental concerns into their business strategy while achieving economic goals.

The award was received by Swaminathan Subramanian, Chief Operating Officer, along with the CSR team at SMFG India Credit, for their outstanding contributions to community development.

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SMFG India Credit’s Commitment to CSR

Over the past three years, SMFG India Credit has rolled out several impactful CSR initiatives aimed at empowering communities and promoting sustainability. These include:

🌱 Financial Literacy Programs – Educating underserved communities on financial planning and credit access.
📚 Skill Development Training – Equipping youth with vocational skills for employment.
🏥 Primary Healthcare Services – Providing medical support to remote areas.
🐾 Animal Welfare Initiatives – Supporting rural communities with livestock care.

💬 Swaminathan Subramanian, COO, SMFG India Credit:
"We are truly honored to receive the Golden Peacock Award. This recognition is a testament to our unwavering commitment to making a positive impact through sustainable and inclusive initiatives. We will continue to build on this success and serve the communities that need us the most."

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SMFG India Credit: A Leading NBFC in India

SMFG India Credit Co. Ltd. (formerly Fullerton India Credit Co. Ltd.) is a leading Non-Banking Financial Company (NBFC-ICC) registered with the Reserve Bank of India (RBI).

🏦 Presence in India:
📍 1,000 branches across 670+ towns & 70,000+ villages
👥 25,000+ employees dedicated to financial inclusion
💰 Diverse Lending Solutions – Home loans, SME financing, vehicle loans, personal loans, and more.

💡 SMFG India Credit’s impact? Introducing underserved and unserved borrowers to formal credit and financial empowerment.

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Understanding Corporate Social Responsibility (CSR) in India

Corporate Social Responsibility (CSR) is a mandatory provision under the Companies Act, 2013, requiring businesses to contribute to social development while maintaining profitability.

📜 CSR under Indian Company Law:

🔹 Section 135 of the Companies Act, 2013 mandates CSR for:
✅ Companies with net worth of ₹500 Cr+ OR
✅ Turnover of ₹1,000 Cr+ OR
✅ Net profit of ₹5 Cr+

🔹 CSR Spending Requirement:
✅ Companies must spend at least 2% of their average net profits (last 3 years) on CSR activities.

🔹 Eligible CSR Activities (Schedule VII):
✅ Eradicating hunger, poverty & malnutrition 🥗
✅ Promoting education & vocational training 📚
✅ Gender equality & empowering women 🚺
✅ Environmental sustainability 🌍
✅ Rural development 🏡

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Why CSR Matters? The Growing Impact of Responsible Business

📌 Enhances brand reputation – Customers prefer socially responsible brands.
📌 Boosts employee engagement – Employees feel proud working for ethical companies.
📌 Drives long-term growth – Businesses thrive in sustainable environments.
📌 Strengthens stakeholder trust – Builds stronger relationships with communities & investors.

SMFG India Credit’s award-winning CSR strategy is a shining example of how businesses can balance profits with purpose.

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🔮 What’s Next? The Future of CSR in India

✅ Stricter ESG (Environmental, Social, Governance) norms to ensure transparency.
✅ Technology-driven CSR initiatives – Fintech for financial inclusion.
✅ Increased focus on climate action & digital education.

💬 What do you think? Should CSR be mandatory for all businesses or just large corporations? Drop your thoughts in the comments! 👇