Corporate social responsibility
Objective
The objective of this policy is to
  • Demonstrate commitment to the common good through responsible business practice and good governance.
  • Actively support the state’s development agenda to ensure sustainable change and attain development of the nearby society.
  • Reducing negative impact of its operations on the environment.
Quovantis technologies csr policy
Section 135 & Schedule–VII of the Companies Act, 2013, which is related to CSR activities has been published in the Gazette of India (Ref. No. 27 dtd. 30.08.2013). It has been notified on 27.02.2014 by Ministry of Corporate Affairs, to be made effective from 01.04.2014. In view of the above, this policy on CSR is prepared. The company shall allocate towards CSR activities to sustain and improve a healthy and prosperous environment and to improve the quality of life of the communities it serves. The company may also utilize its products and services as suitable for its CSR activities. Any surpluses arising out of CSR projects or programmes or activities shall be re-deployed back into CSR activities and will not form a part of the business profits of the company.
CSR focus areas
Company’s CSR in alignment with the CSR activity initiatives (Skills, Water, Governance, Education) will focus on four thrust areas – Education, Health, Livelihoods and Rural and Urban infrastructure. Besides, it will also undertake interventions in the areas of sports, disaster relief, environment and ethnicity etc. (Refer Annexure A), all aimed at improving the quality of life of the communities.
Delivery mechanism
Part of the CSR efforts of Quovantis will be implemented by an in-house CSR department and through several societies promoted by the company. The company will also partner with credible organizations – individually or as a consortium – to design, fund, implement and review projects. Partner agencies will be selected based on well-defined selection criteria.
Supervision
Company’s CSR activities will be driven by a dedicated CSR team under the guidance and support of senior functionaries, in particular, the CEO/Directors. The CSR committee and CSR Department would play a significant role in ensuring that the CSR policy is embedded across the Company’s operations and the CSR initiatives are in line with the policy.
Implementation

The Company will undertake CSR projects which are closely linked with the principles of sustainable development and shared value, with the involvement of local institutions and the community at large.

The CSR Department would assist in implementation and monitoring of the CSR projects/initiatives. The actual implementation of various initiatives will be broad-based with the involvement of various bank employee/units or through implementing agencies like NGOs, Trusts, Societies, Section-8/Section-25 companies. In the case of implementing agencies being a 'not for profit organization', the entity should have less than three years of experience in implementing projects in respective area.

Annexure-a: CSR interventions
CSR Programs
CSR Initiatives
Ref.SR. No of Sch VII of Companies Act
Education
  • Promoting Education in children from backward areas.
  • Investing for education of Students through trust.
  • Providing direct education to students by our employees at regular intervals.
  • To help such Students in gaining technical skills.
V
Environment
  • Undertaking plantations and afforestation activity.
  • Directly investing in cleaning of neighborhood area.
  • Promoting awareness about environmental issues.
IV
Disaster Relief
  • Extending relief measures during times of natural disasters, anywhere in the country.
  • Undertaking and supporting rehabilitation measures post-disaster.
Different activities will be categorized differently
Support to Technologies Incubators
  • Funding research project at technology hubs for environment and social sustainability.
Eradicating Poverty
  • The company recognized the need to reach out to those at bottom of the pyramid by providing them with need-based assistance. Quovantis will also encourage employees to continue to contribute society by undertaking projects in their respective areas.
VII

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