LEADING FROM THE TOP: From MD’s Desk
Mr. Raman Narula
We all know that our country needs a lot of humble human beings who proactively come forward to eradicate some of the challenges we face in our society.
At Formula Group, we recognize the need for being responsible corporate citizens and for shouldering our responsibility towards giving back to millions of underprivileged people in India. What amazes me in our organization is the passion and dedication that each of our employees demonstrates in fulfilling our commitment to client. Now it’s time to give back to our society and support the underprivileged section of society.
PROJECTS UNDERTAKEN BY FORMULA GROUP
1. Vocational Training Program for Shikhar
Challenge: The condition of the residents of Dist- South Delhi, Delhi, which we have selected for our project is pathetic. The area has a good majority of the underprivileged. They are socially as well as educationally backward. Among them the women & girls are most affected for several reasons:
- Because of conservative traditional system they are unable to continue their education after a certain level (primary). They have to either work in the fields or stay indoors.
- In the male dominated society the women folk are exploited and deprived of the opportunities extended betterment and empower of women.
Under these circumstances it is all the more necessary that the women be trained in some vocation to enable them to be independent economically to make up the deficiency occurred due to loss of social status and also play their role in the society with dignity and also become part of mainstream. Under this proposed project for girls & women, different areas are benefited by this project.
The beneficiaries would be connected with the mainstream of the nation. As result vocational training program will prove to be the most important performer for the girls & women of Dist- South Delhi, Delhi.
Approach: Duration of Course:
- Cutting & Tailoring: 6 Months No. of Beneficiaries: 120
- Beauty & Culture : 3 Months No. of Beneficiaries: 120
Trainings Timing: 2 hours per day per batch.
Impact: This will provide work so that they become self-dependent / sufficient and also to connect them with the main stream.
2. Remedial Education Program for Navjyoti India Foundation
Challenge: Children attending govt schools but having little support from their parents to reinforce school learning. Their learning levels are found far below the minimum expected learning levels of the grades in which they are studying.
These children are enrolled in the Remedial Education Project in Grade I and then efforts are directed to retain them till Grade10, continuously working on enhancing their learning and bridging the gap that exist between the minimum expected and the present levels.
- Training Children on Value Based Leadership (Bal Gurukul)
- Buddy System
- Sanskar Classes
- Training on taking responsibilities
- Ambition Ladder
- Reduce drop out rate and create favourable conditions in the community thereby addressing crime prevention.
- No case of serious illness identified. Majority of the cases with prevailing illness identified and treated at the very onset
- Children become social, confidently able to express themselves.
Beneficiaries: Children studying in grade 6 in Government Schools in Bawana Resettlement Colony.
3. Home for Sick and Public Health Care Services for NGO Sapna
Challenge: Lack of qualified doctors, proper medical facilities and ignorance and inability to afford treatment worsen the situation. The villagers have no choice but to go to local untrained medics or quacks or forgo treatment. Many times small problems can become major ailments over a period of time. Health in rural areas suffers not only due to limited facilities and infrastructure but also due to lack of awareness. Women do not get timely advice on and hygiene related issues. This has serious implications for their health in later life.
Approach: It employs an M.B.B.S. doctor, a compounder and a laboratory technician who carry out routine, pathological blood, urine and stool tests at a very nominal cost to the villagers.
The PHCC remains functional for 4 hours every morning 8 AM to 12 noon during summers and 9 AM to 1300 AM during winters. We also provide medicines free of cost to the patients. A lady doctor visits the Centre two times a month to counsel and treat women for gynecological problems and family planning. This PHCC also provide requisite medical care to the inmates who are staying in Anandam- Home for Sick and Destitute.
Impact: Improved health & hygiene conditions by providing medical aid to beneficiaries.
For us in Formula Group, reaching out to economically backward communities specially to children, women and medical help is part of our DNA. Formula has always endeavored to conduct its business mindful of its social accountability, respecting applicable laws and with in regard for human dignity.
We believe in the trusteeship concept. This entails transcending business interests and grappling with the "quality of life" challenges that women & underprivileged children face, meeting medical needs and working towards making a meaningful difference to them.
CSR Program Areas, Objectives & Framework.
The Company is committed to play a broader role in the communities in which it operates by way of supporting various initiatives through funding, fund raising and/or volunteering activities.
In order to achieve its goal, the company will undertake and support the underprivileged society in following manner:
- Providing remedial education to reduce drop out rate of girls and boys in under privileged sections of society
- Providing vocational knowledge for women so they become independent.
- Providing medical help to the needy.
In addition to this, the Company will also undertake intervention in the areas of disaster relief, environment, rural and urban infrastructure and building social capital infrastructure.
The aforesaid thrust area is in line with the schedule VII of the Companies Act, 2013.
CSR Approach: The Company’s CSR will revolve around six guiding principles – Impact, Partnerships, Affirmative Action, Volunteerism, Communication and Innovation.
Delivery Mechanism: Whilst a large part of the CSR efforts of Formula, will be implemented by an in-house CSR team, 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.
- Employee Engagement Activities : Employee involvement strengthens existing relationships with partner organizations by bringing new skills and energies to solve problems, and complementing stretched resources. Senior management actively encourages employees to participate in community projects, leading by example.
- Demonstrate senior management leadership in the community, through the Managing Director holding at least one board-level membership with a major local community non profit organization.
- Sustained Motivation and valuable to all the stakeholders
Constitution of Corporate Social Responsibility Committee
The CSR activities will be driven by a dedicated project team under the guidance and support of the CSR Committee and the management. The CSR Committee will play a significant role in ensuring that the CSR policy is embedded across Formula Group and the CSR initiatives are in line with this policy.
The CSR Committee will be responsible for monitoring approved projects and fund disbursals for such projects. The CSR Committee will put in place a transparent monitoring and reporting mechanism for ensuring effective implementation of the projects, programs and activities proposed to be undertaken by Formula Group. Such monitoring mechanisms will include visits, meetings and progress/status reporting by the project teams.
Any or all provisions of this CSR policy may be amended by the Management based on the recommendations of the CSR Committee or in accordance with any statutory guidelines that may be issued from time to time.