CURRENT AFFAIRS

Detailed explanation-1: -The Ministry of Corporate Affairs (MCA), Government of India, released a set of guidelines in 2011 called the National Voluntary Guidelines on the Social, Environmental and Economic Responsibilities of Business (NVGs).

Detailed explanation-2: -The NGRBC is designed for all businesses, not taking into consideration their ownership, size, sector, structure or location. It is expected that all companies that are invested or operating in India, including foreign multinational corporation (MNCs), has to abide by these guidelines.

Detailed explanation-3: -The Ministry of Corporate Affairs had released Voluntary Guidelines on CSR in 2009 as the first step towards mainstreaming the concept of Business Responsibilities.

Detailed explanation-4: -The guidelines, articulated as a set of nine principles and their attendant core elements enunciate the thrust of the United Nation Guiding Principles (UNGPs) on Business and Human Rights and Sustainable Development Goals and yet remain true and specific to the Indian context.