Corporate Social Responsibility (‘CSR’) POLICY

  • Preamble

    Finzoomers Services Private Limited (“Finzoomers” or “Company”) is a registered Corporate Agent (Composite) vide registration no. CA0744 with IRDAI, leverages its position to deliver compliant insurance solutions under applicable regulatory guidelines and also serves as a registered e-Point of Presence (POP) vide registration no. POP362042023 with PFRDA. Additionally, Finzoomers provides diverse financial services, including investment and banking products, tax filing assistance, acting as a tech-enabled intermediary, the company connects consumers with financial institutions through secure and innovative solutions.

  • Objectives

    INDmoney CSR Policy intends to:

    1. Strive for economic development that positively impacts society at large with minimal resource footprint.
    2. Embrace responsibility for the Company’s actions and encourage a positive impact through its activities on hunger, poverty, malnutrition, education, environment, communities, stakeholders and society.

  • Focus Areas

    Finzoomers seeks to contribute to the society through its distinct value proposition that meets the needs of millions of people, enhancing their lives through healthcare, improving quality of living by providing education and enabling livelihoods by creating employment opportunities-through the following:

    • For the Business- value created for the society through business (including employment generation, market growth, creating opportunities etc.)
    • By the Business- value created through CSR initiatives across different operating facilities with appropriate linkages to local communities in which they operate.
    • Beyond Business- value created through interventions for the communities in diverse geographies across India.

    In accordance with the requirements under the Companies Act, 2013, Finzoomers’ CSR activities, amongst others, will focus on:

    1. Hunger, Poverty, Malnutrition and Health: Eradicating extreme hunger, poverty and malnutrition, promoting preventive healthcare and sanitation and making available safe drinking water.
    2. Education: Promoting education, including special education and employment-enhancing vocational skills especially among children, women, the elderly and the differently-abled, and livelihood enhancement projects; monetary contributions to academic institutions for establishing endowment funds, chairs, laboratories, etc., with the objective of assisting students in their studies.
    3. Rural Development Projects: Strengthening rural areas by improving accessibility, housing, drinking water, sanitation, power and livelihoods, thereby creating sustainable villages.
    4. Gender Equality and Empowerment of Women: Promoting gender equality and empowering women; setting up homes, hostels and daycare centers for women and orphans; setting up old age homes and such other facilities for senior citizens; and adopting measures for reducing inequalities faced by socially and economically backward groups.
    5. Environmental Sustainability: Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro-forestry, conservation of natural resources and maintaining the quality of soil, air and water.
    6. National Heritage, Art and Culture: Protecting national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promoting and developing traditional arts and handicrafts.

    However, the Company undertake any CSR project specified in Schedule VII of the Companies Act, 2013 from time to time.

  • Undertaking CSR Activities

    Finzoomers will undertake CSR activities either in partnership with a company established under section 8 of the Act, or a registered public trust or a registered society, registered under section 12A and 80G of the Income Tax Act, 1961 or such other entities prescribed under the Act, who are engaged in activities or programs which fall within the purview of Finzoomers CSR Policy and areas of focus, or directly through a company established under section 8 of the Act, or a registered public trust or a registered society, registered under section 12A and 80 G of the Income Tax Act, 1961, that may be established by Finzoomers or its Holding Company “INDmoney Tech Private Limited”, either singly or along with any other company, for the purpose or both.

  • CSR Responsibilities

    The responsibilities of the board will be as follows:

    1. To formulate and recommend to the Board, a CSR policy which shall indicate the activities to be undertaken by the Company as per the Companies Act, 2013;
    2. To review and recommend the amount of expenditure to be incurred on the activities to be undertaken by the Company.
    3. To institute a transparent monitoring mechanism for the implementation of the CSR projects, programs and activities undertaken by the Company;
    4. To monitor the CSR policy of the Company from time to time;
    5. Any other matter as the Board may deem appropriate after approval of the Board of Directors or as may be directed by the Board of Directors from time to time.

  • Selection and Implementation of CSR Activities and Projects

    The board shall consider CSR proposals from the Company or any other eligible entity/ foundation. In order to be considered by the Board, such proposals must inter-alia contain details of projects/programs to be undertaken, proposed amount, timelines and a confirmation that such projects/ programs are eligible under the Companies Act, 2013 and rules made thereunder.

    The Board will evaluate the projects/programs and may, at its sole discretion, approve certain projects/programs for implementation. While approving projects/programs, the Board shall ensure that those are covered under the ambit of activities listed in Clause 3 above.

    The Board may also decide to contribute towards the Corpus Fund, as permitted under the law.

  • Surplus

    The surplus arising out of the CSR projects or programs or activities shall not form part of the business profit of a company.

  • CSR Budget

    The Board shall approve overall limits for CSR Activities to be undertaken by the Company. Within the overall limits approved by the Board, the Board shall approve individual projects / programs including contribution towards the Corpus Fund.

  • Location of CSR efforts

    All CSR projects / programs under this policy shall be undertaken in India. The Board shall decide on locations for implementation of the CSR projects / programs.

  • Monitoring and Disclosure

    1. The Board shall endeavor to: Devise a robust monitoring mechanism to ensure that the CSR projects / programs are undertaken effectively in accordance with the approval granted and are fully in compliance with applicable laws, rules, and regulations.

      Monitoring of CSR activities could be done through:

      • Periodic third-party assessment of key projects
      • Impact assessment with key indicators in our areas of operations
      • Regular review by the Board
    2. Ensure that appropriate disclosures are made in the company’s annual reports.

  • Validity of CSR Policy

    This policy is effective from April 01, 2024 and may be amended by the Board as required from time to time.

  • Adoption and Amendments to the Policy

    The Board on its own and/ or as per the recommendations of the concerned persons can amend this Policy, as and when required. Any or all provisions of the CSR Policy would be subject to revision/amendment in accordance with the provisions of the Act thereunder on the subject, from time to time.