The Companies Act, 2013, requires every company having a net worth of Rs.500 crore or more to formulate a Corporate Social Responsibility (CSR) Policy specifying the activities which it undertakes under Schedule VII of the Act. It is required that the companies must perform certain activities which are in favor of the society as a whole. Franklin Templeton Mf, which is one of the renowned organisations in the field of mutual funds in India, has considered these regulations as its prime duty as well as a responsibility. It has been very active in this context and has taken various initiatives to benefit the society. Let’s take a look at some of its work:
Education – Adoption of Abhudaya English Medium School
This programme is designed to address the inequities in the education system of the country by creating sustainable reforms in collaboration with the Government. It is primarily aimed at the following three areas:
- Providing every child’s ability to learn and achieve high levels.
- Demonstrating the importance of skilled educators by investing in the recruitment & retention of high-quality school staff.
- Using the schools as laboratories for improving the quality of education in Government schools. The school adopted has 447 students from Grade I to VIII.
Nanhi Kali (Education) – Support Approximately 2353 Girl Children
This programme is a part of the KC Mahindra Educational Trust and aims to provide support to the socially weaker and poor sections of the society in terms of education. The key objectives of the programme include:
- Reducing the ratio of school dropouts of the girl child.
- Improvising the learning standards and attendance.
Yuva Parivartan - Empowering Lives Through Skill Development
Although the economy is growing at a fast pace, there are a large number of youngsters who are deprived of the employment due to inadequate skills. The camps which were set up under this programme aimed to reach the youth as well as the women in the chosen areas and impart skill enhancement training for employment opportunities available in that particular area. The vocational courses which were offered include tailoring, beautician, tourism sector, basic computing and many more.
American India Foundation Trust – Facilitate 5000 Rickshaws
This project focused on facilitating the entire ecosystem which may help in increasing the income levels of the Rickshaw pullers, in order to reduce their poverty and create a sustainable source of income. The aim of this plan is making the poor Rickshaw pullers self-reliant and financially disciplined. The implementation schedule of this programme was April 2015 to August 2015.
Bala Vikasa Social Service Society (Infrastructure)
It has been observed that the living conditions of the slum dwellers are quite poor due to lack of housing, infrastructure, water, etc. They are specifically deprived of clean drinking water facilities as the municipal water which is supplied in those areas is contaminated due to age-old distribution and bad maintenance system. This has resulted in spreading of various diseases. The programme aims to address this issue for which Franklin Mutual Fund has set up water plants using the RO technology. The water is available for the beneficiaries at the maximum cost of Rs.3 per 20 litres of water.
Accordingly, Franklin Templeton MF has gained a notable position in the market. Along with the investment services that it provides, it has been able to perform such activities which helped many needy people. Hence, getting associated with such a huge brand is definitely a must for the investors.
This article explains all the major initiatives taken by Franklin Templeton Mutual Fund for the purpose of Corporate Social Responsibility. It shows that this fund house is fully compliant and can be very helpful in attaining the desired goals of the investors.