Corporate Social   Responsibility  is  not merely compliance but   a  social investment  to help sustainability of society. It is a commitment to support initiatives that measurably improve the lives of under-privileged by addressing their needs.
Being the largest and the oldest commercial institution in Union Territories of J&K and Ladakh, the Jammu & Kashmir Bank Ltd has  adopted Corporate Social  Responsibility (CSR) as a considered means for  sustainable growth and  believes that CSR  is  not charity or  mere donations but  a  way  of  going  beyond business as usual, creating shared value and  contributing to social good.

J&K  Bank  is  dedicated to identifying and  supporting CSR programmes aimed at developing and  advancing the communities particularly those who are  marginalized ones and  belonging to weaker sections of society.
The  Policy  Document  shall  also  serve as a  guiding document to help  identify, execute and monitor CSR Programmes in line with  the laid down  guidelines of the policy.  The policy  would also function as a self-regulating mechanism for the Bank,s CSR activities and enable adherence to all the stipulations and  other regulatory standards mentioned in the Companies Act, 2013.

Policy Statement & Vision
In alignment with its vision , the bank as a socially responsible corporate citizen, shall continue to enhance value creation in the society and the community it operates through its CSR activities, which ultimately would be aimed to promote sustained growth for the society and  community. The  main  objective of the CSR Policy  shall  be  the Bank’s continuous commitment to operate in economically, socially and  environmentally sustainable manner so as to ensure upliftment of the marginalized and  under-privileged sections of the society to promote inclusive socio- economic wellbeing and  growth, empowerment of communities, capacity building, environment protection, promotion of green environment  , development of backward regions by  specially focusing on the projects relating to the benefit of the marginalized poor. However the focus of all such activities shall  be prioritized in the UT of Jammu & Kashmir.
Notably, among other things the Bank’s strategy is and shall remain to encourage each business unit  to remain conscious of community development.

This Policy is in line with the CSR (Section 135 of the Companies Act 2013) and shall be applicable to all the Projects /programmes undertaken as part of the Bank’s Corporate Social Responsibility activities. The Policy  shall  be reviewed and  updated from  time to time in accordance with  the codes of Corporate Governance and  best practices.

The  Corporate Social  Responsibility Department shall  be  responsible for  administering  and executing the policy.  However, the overall approving and  governance of the CSR Policy  shall  be the responsibility of the CSR Committee of the Board. The Policy  may be revised in accordance with the changes evolving from time to time in the CSR rules & regulations. For this, the approval of the CSR Committee of the Board, which  is having sole discretion and  mandate to allow any proposed change, shall  be sought.

CSR Committee
In Compliance to Clause 1 of Section 135 of the Companies Act, 2013, Board of Directors approved constitution of a Corporate Social Responsibility (CSR) Committee vide its Resolution No 21 dated 6th March 2014. CSR Committee stands already constituted by the Bank with three or more Directors (including one Independent Director).

CSR Budget
The amounts to be spent by the Company shall be as stipulated under the Act, as amended from time to time (presently 2% of the average net profits of the Company for  the preceding three financial years) and  as approved by the Board. Any surplus arising out  of the CSR projects or programs or activities shall  not form  part of business profits of the Company.
Within the Budgeted amount, specific CSR initiatives /projects will be approved in line with the process approved by the CSR Committee of the Board. All projects undertaken by the Bank will be approved/ratified by the Bank’s CSR Committee.
It is worth mentioning that the Bank  shall  have discretion to spend more than the given  CSR budget in a particular financial year. However the bank  would at least put  every effort to spend the amount stipulated under CSR rules in the most effective manner.

The  Bank’s CSR  activities will be  driven by  a  dedicated CSR  Team  under the guidance and support of  senior functionaries, in  particular the Board/Management. The  CSR  Committee through CSR team would  play  an important role  in ensuring that the CSR Policy  is embedded across the Bank’s operations and the CSR initiatives are  in line with the CSR Policy  of the Bank.

Most of the CSR programmes shall  be undertaken by the Bank directly.
However, Project  activities  identified under CSR  may  also  be  implemented with  the aid  of specialized agencies which  would  include----reputed NGOs,  Trusts, Societies, Section 8/ Section 25  Companies, Certified Incubation Centers or  through Collaborative Projects  with Other Corporates,  Academic Institutions,  Self-Help  Groups, Govt./Semi.Govt/Autonomous Organizations, etc. The performance of these bodies /agencies shall  be monitored by the Bank on  regular basis. In case of  the Implementing agency being  a  “not for  profit” Organization, the entity should typically have not less than Three (03)  years of experience in implementing projects in the respective area.

A transparent  monitoring mechanism for  ensuring effective implementation of the Projects/ Programmes /activities to be undertaken by the bank  shall  be ensured by the CSR Committee. The  Corporate  Communication & Marketing Department  would   have the  responsibility of monitoring approved projects and  funds disbursal for  such projects.  Monitoring mechanisms will include visits, meetings and  progress/status reporting by the CSR Committee members or the CSR Department. At the same time, the Bank’s CSR activities shall be reviewed by the CSR Committee. As desired by the CSR Rules (Section 135 , Companies Act, 2013) a system will be  put  in place to maintain a transparent monitoring and  reporting mechanism across all the stakeholders involved in the CSR activities of the Bank.
After the project is completed under CSR initiative, an impact study would be done by the bank to measure the desired positive changes for which the project was funded. The study would be got done preferably through an  external agency. For  example the University Students or  the Research Associates can  be roped in to conduct the study. A professional agency can  also  be hired for the purpose.

As  per  regulatory reporting requirements and  any  other statutory, all  the CSR  activities / Projects and achievements will be reported as part of the Directors Report in the Bank’s annual report.

CSR programmes/projects
To  provide a  concentrated and  organized approach to the program, the Bank  will focus its support and  CSR  spends on  specific per-determined  causes and  areas of  intervention as outlined in the Annexure to the policy.  The  CSR Department would  put  up  to the Committee appropriate details of proposed projects including implementation year, modalities of execution in the areas/sectors chosen, implementation schedules for the same etc. The CSR Committee will consider and approve (in line with the guidelines given  below),  CSR projects/programs to be undertaken during the year.
a) The programs/ projects will be beyond business as usual
b) The programs/ projects will be within the areas recommended / listed by the CSR Committee and  mentioned in the Policy.
c)  The Bank will ensure that its CSR projects are  non-discriminatory in nature and do not have any restrictive political or religious affiliations.
d) The  programs/projects  will be  implemented  pan  India  with  special focus on  the UT of
Jammu & Kashmir.
e)  Programs/Projects that integrate business models with social and  environmental priorities and  processes in order to create shared value will be encouraged.
g) The  Bank  will consider Programs/Projects closely linked  with  the principles of sustainable development.
h) Programs/Projects should not be exclusively for the benefit of employees of the company or their family  members or those that are  conducted /undertaken exclusively in pursuance of the normal course of business.

Areas Of intervention
Bank will implement its CSR projects/programmes in the following areas. As the specified areas have been made broad based ever since the mandated bill, as such, the areas , the broader activities to be covered under “J&K Bank CSR Policy” shall  be as under:
1.            Eradicating hunger, poverty and  malnutrition promoting healthcare including preventive   healthcare and  sanitation including contribution to the Swach Bharat Kosh  set-up by the Central Government for the promotion of sanitation and  making available safe drinking water;
2.            Promoting education , including Special education and  employment enhancing vocation skills especially among children, women, elderly and  differently abled and  livelihood enhancement Projects;
3.            Promoting gender equality , empowering women , setting up homes and  hostels for women and  orphans; setting up old age  homes, day care centers and  such other facilities for senior citizens and  measures for reducing inequalities faced by socially and  economically backward groups;
4.            Ensuring environmental sustainability , ecological balance, protection of flora  and fauna, animal welfare, agroforestry, conservation of natural resources and  maintaining quality of soil , air and  water including contribution to the Clean  Ganga  Fund  set up by the Central Government for rejuvenation of river Ganga;
5.            Protection of National Heritage , art and  culture including restoration of buildings and sites of historical importance and  works of art, setting up public  libraries; promotion and  development of traditional arts and  handicrafts;
6.         Measures for the benefit of armed forces veterans, war widows and  their dependents;
7.         Training to promote rural sports, nationally recognized sports, para Olympic  sports and
Olympic  sports;
8.            Contribution to the Prime Minister,s National Relief  Fund  or any other Fund  set up by the Central Government for socio-economic development and  relief  and  welfare of the Scheduled castes, the Scheduled Tribes , other backward classes, minorities and women;
9.            Contribution or Funds provided to technology incubators located within  academic institutions which are  approved by the Central Government;
10.       Rural  Development Projects;
11.       Slum Area  Development
As  per  the explanation the term ‘Slum  Area” shall  mean any  area declared as such by  the Central Government or any State/UT Government or any other Competent Authority under any law for the time being  in force.

Additional items covered under Schedule VII
In accordance with the clarification issued vide General Circular No 21/2014 dated 18.06.2014, J&K Bank CSR Policy  shall  also  be covered under Schedule VII of the Companies Act 2013.
1.                            Educating the masses and promotion of Road safety awareness in all facets of road usage. (Covered under schedule VII(ii) under “Promoting Education”
2.        Drivers Training (Covered under Schedule VII (ii) under ‘Vocational skills’
3.            Safety Traffic Engineering and awareness through print, audio  and visual  media ( covered under Schedule VII (ii) under “Promoting Education”
4.        Giving Medical & Legal Aid , Treatment to road accident victims.( Covered under Schedule
VII (i) under “Promoting healthcare including preventive healthcare”
5.            Provisions  for   aids   and   appliances to  the  differently abled persons.(Covered under schedule VII(i) promoting healthcare including preventive healthcare”
6.            Capacity building   for  farmers covering best sustainable farm   management practices. (Covered under Schedule VII (ii) “Vocational Skills” livelihood enhancement Projects.
7.        Training Agriculture labour on  skill  development (covered  under Schedule VII(ii) under
“Vocational Skill”
8.            Doing our own research on the field for individual crops to find out the most cost optimum and  Agri-ecological sustainable farm  practices (Applied  research) with  a focus on water management.(covered  under  Schedule VII(iv) under  “Ecological Balance…maintaining quality of soil , air & water”
9.        To do Product Life Cycle analysis from  the soil conservation point of view (Covered under
Schedule VII (iv) under “Conservation of natural resource” and “maintaining quality of soil
, air & water”
10.          Providing effective consumer grievance redressal  mechanism; protecting  Consumers health and  safety, sustainable consumption, consumer service, support and  complaint resolution; consumer protection activities; Consumer rights to be mandated; All consumer protection programmes and activities” on the same lines as rural Development , education etc. (Covered Under  Schedule VII ( ii) under “Promoting education”.
11.          Donation to IIMA for  conservation of buildings and  renovation of classrooms..(Covered under “promoting education”
12.          Non-Academic Techno park  TBI not located within  an academic institution but  approved and   supported  by  Department  of  Science  & Technology.(covered under  “promoting Education” if approved by Department of science & Technology)
13.          Disaster Relief: - Disaster relief shall cover wide range of activities that can be appropriately shown under various items listed in Schedule VII. For example
•         Medical Aid can be covered under “promoting Healthcare including preventive healthcare”
•         Food  supply can  be covered under “eradicating hunger, poverty & Mal nutrition”
•             Supply of clean water can be covered under “sanitation and making available safe drinking water”.
14.      Trauma Care  around highways in case of road accidents. ( Covered under Schedule VII (I)
under “Healthcare”
15.          Supplementing of Government schemes like Mid-day meal scheme by Corporates through additional nutrition.( Covered under Schedule VII (i) under poverty & malnutrition”
16.          Enabling access to, or  , improving the delivery of Public  Health System.( depending on the context, it shall  be covered under both the Heads of Schedule VII “health care” or “ measures for reducing inequalities faced by socially & economically backward groups”)
17.          Slum re-development or EWS Housing (Covered under “ measures for reducing inequalities faced by socially & economically backward groups”)
18.          Renewable energy products (Covered under Schedule VII ‘ environmental sustainability , ecological balance and  conservation of natural resources’
19.     Contribution to any distress/disaster fund, created for rehabilitation of sufferers of natural calamities/disasters.
20.     Carry forward of unspent portion of the mandated amount to subsequent year in addition to the prescribed CSR expenditure of the succeeding year. 
The  statutory  provision and  provisions of CSR Rules, 2014, is to ensure that while  activities undertaken in pursuance of the CSR policy  must be relatable to Schedule VII of the Companies Act 2013, the entries in the said Schedule VII must be interpreted liberally so as to capture the essence of the subjects enumerated in the said Schedule. As such, having focus on Health & education sectors, J&K Bank CSR Policy shall be providing necessary equipments and diagnostic tools to Government  hospitals (to  be  covered  under  improving public   healthcare delivery system) where the visitors are  mostly from  lower  economic & financial strata. Being focused on improving public  health delivery system, regular health camps, strengthening health centers and  reaching out  to marginalized, physically challenged, deaf, dumb, visually impaired shall be the preference of the Bank.  Bank  shall  also  explore the possibility of providing Ambulances which  shall  serve as “hospitals on wheels” for the people having no access to such amenities I times of medical emergencies.
In promoting Education, bank  shall  be  reaching out  to marginalized children from  school to university levels so that they pursue their academic goals. This shall include financial assistance, healthcare related aids  and  medical help and  other related items as may  be deemed fit.
J&K bank  CSR Policy  shall  be taking due  upkeep of all the environmental related issues. Under the “environmental excellence Programme” the Bank shall  be undertaking measures like planting trees, developing parks and  gardens at barren lands and  also  undertaking cleanliness drives etc. All these programmes/initiatives by the bank  shall  be aimed at making our surroundings and  environment not only hygienic but  also  to make an effort for GREEN surrounding for the larger welfare of the community.
Bank shall  also  create infrastructure for far flung areas through environmental conservation measures like providing solar energy, establishment of eco-parks, better sanitation etc. Bank may  also  have an arrangement/partnership with reputed NGOs or some implementing agency to carry out  such activities.
Bank shall  also  contribute in the projects that enable people living in the terrain to understand the challenges faced by their people and  to empower them with environmentally sustainable solutions to these problems. This may  be done to encourage experiential learning via practical application of knowledge like SECMOL plans in Ladakh.
Bank shall  also  explore the possibility to support the children belonging to tribal population/ areas as this  segment of the population remains disconnected and  out  of the periphery of social development.

J&K Bank’s CSR Policy shall not include the following activities under CSR:
1.   Training to enforcement personnel. ( It is establishment functions of Government (cannot be covered)
2.   Capacity building  of government officials and  elected representatives-both in the area of
PPPs and  urban infrastructure (not covered under Schedule VII)
3.   Sustainable urban development and  urban public  transport systems (Not  covered under
Schedule VII)
4.   It is further clarified that J&K Bank , in reference to the guidelines as referred in Rule 4 (1) of Companies CSR Rules, 2014 , shall  not undertake any programme which is not in project form  and  sustainable in nature and  shall  discourage  One-off events such as marathons/ awards/ charitable contribution/ advertisement/ sponsorships of TV programmes etc.

A third party social audit shall be done to review the objective impact of the various projects/programmes and initiatives undertaken by the bank under CSR. The audit shall be done at regular intervals where for CSR Committee of the Board will put up their recommendations to Board of Directors of the bank.