Empowering Impact: Our Corporate Social Responsibility Initiatives
It is through recognising Corporate Social Responsibility (CSR) that companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. Reserve Bank Information Technology Private Limited (ReBIT)’s CSR Policy outlines the Company’s philosophy and the mechanism for undertaking socially useful programmes for welfare purposes and sustainable development of the community at large as part of its duties as a responsible corporate citizen.
For ReBIT, CSR means the integration of social, environmental, and equitability concerns in its business operations. CSR involves operating the Company’s business in a manner that meets or exceeds the ethical, legal, commercial, and public expectations that society has of businesses. In alignment with vision of the Company, ReBIT, through its CSR initiatives, will continue to contribute to value creation in the society through its services, conduct and initiatives, so as to promote sustained growth for the society.
The key objectives of this Policy are to:
Outline the development areas in which ReBIT shall get involved in
Define governance structure for CSR management within ReBIT
Serve as a guiding document aiding in identification, execution and monitoring of CSR projects
Describe the treatment of surpluses from CSR activities
This Policy applies to all CSR projects that will be undertaken by ReBIT and shall fulfil all the requirements of Section 135 of the Companies Act, 2013. ReBIT shall ensure all these activities are over and above the normal course of business and are in line with Schedule VII of the Companies Act, 2013. This Policy will be reviewed annually and updated in line with the relevant codes of legislation and best practices that can be adopted by ReBIT.
4. Areas to Emphasize
ReBIT has broadly selected three areas of focus under its CSR activities, as under:
Promoting education, including special education and employment-enhancing vocation skills especially among children, women, elderly, and the differently-abled and livelihood enhancement projects.
Ensuring environmental sustainability ecological balance, protection of flora and fauna, animal welfare, conservation of natural resources and maintaining quality of soil, air and water.
Empowering woman through education and awareness, improving literacy among women and ensuring they are made aware of formal governmental programs.
Reserve Bank Information Technology Private Limited (ReBIT) has been set up by the Reserve Bank of India to serve its IT and cybersecurity needs and to improve the cyber resilience of the Indian banking industry.