A REPORT ON

CORPORATE SOCIAL RESPONSIBILITY WTH SPECIAL REFERENCE TO LIC

SUBMITED TO:

PROF.S. SRIVASTAV
DEPARTMENT OF MANAGEMENT

GROUP MEMBERS:

MANISHA KIRKETTA 1015

ANKITA KUMARI
1026
ASHOK KUMAR
1028
NISHANT MISHRA
1029
SWETA SINGH
1030

What is Corporate Social Responsibility?

Corporate social responsibility is the commitment of business to contribute to

sustainable economic developmentworking with employees, their families, the
local community and society at large to improve the quality of life, in ways that are
both good for business and good for development

Corporate social responsibility (CSR):

An obligation, beyond that required by the law and economics, for a firm to
pursue long term goals that are good for society .
The continuing commitment by business to behave ethically and contribute
to economic development while improving the quality of life of the
workforce and their families as well as that of the local community and
society at large.
About how a company manages its business process to produce an overall
positive impact on society.

The purpose of CSR:

The purpose of Corporate Social Responsibility (CSR) is to make corporate
business activity and corporate culture become sustainable in its three
dimensions:
economic
social
environmental.

why corporate social responsibility occurs

for economic, social, and environmental bottom lines

community pressure to do so
to enhance reputation
as a branding exercise
to improve community relations and public image
to enable employees to enjoy new levels of responsibility and leadership
skills
to improve employee satisfaction, morale and loyalty
to get a sense of fulfillment as a result of contributing to the community

Benefit to company
CSR behaviour can benefit the co. in several
Ways:
It aids the attraction and retention of staff
It attracts green and ethical investment

 It attracts ethically conscious customers

It differentiates the co. from its competitor and can be a source of
competitive advantage
It can lead to increased profitability in the long run

RULES AND REGULATION ON CSR

. The Companies Bill, 2009, retains the provision of two per cent of the
average profit of the preceding three years for corporate social
responsibility (CSR) activities
In the bill "every company having (net worth of . 500 crore or more, or
turnover of . 1,000 crore or more) or (a net profit of Rs 5 crore or more
during a year) shall be required to formulate a CSR Policy"
ABOUT LIC

Largest insurance company in the world in terms of customer Base (more

than 27 crore customers)
No.1 insurance company in the world in terms of agency (14.03 lakhs agents)
The 2nd biggest Real Estate Owner next to Indian Railways
Has the highest Number of Insurance Professionals (club Member agents)
Has the highest number of Corporate Clients in Group Insurance Scheme as
also the biggest portfolio of Group Insurance Schemes available

MARKET SHARE
In spite of opening of so many public Companies(presently 23) ,LIC has
retained a market share of 70.44% in NB premium and 71.82% in NOP
as at 31.5.10

In view of the competitive atmosphere this performance is no doubt

praiseworthy.

LIC PROVIDES INSURANCE LIKE-

Fire Insurance
Marine Insurance
Motor Insurance
Health Insurance
Engineering Insurance
Rural Insurance
Miscellaneous Inurance

BENEFITS
LICs wide and diversified product portfolio help individuals meet their
various needs, be it:
Protection: Need for a sound income protection in case of your
unfortunate demise
Investment: Need to ensure long-term real growth of your money
Savings: Save for the milestones and protect your savings too
Pension: Need to save for a comfortable life post retirement
Health: Cover for health related exigencies

KEY STRENGTH

Financial Expertise

 As a joint venture of leading financial services groups. LIC has the

financial expertise required to manage long-term investments safely and
efficiently.

Range of Solutions
LIC has a range of individual and group solutions, which can be easily
customized to specific needs. These group solutions have been designed
to offer complete flexibility combined with a low charging structure
Strong Ethical Values:
LIC is an ethical and Cultural Organization. False selling or false
commitment with the customers is not allowed.
Most respected Insurance Company
LIC was awarded No-1 Insurance Company in 2004 by the World Class
Magazine Business World for Integrity, Innovation and Customer Care.

CORPORATE SOCIAL RESPONSIBILITY:GJF TRUST

LICs contribution towards various Five Year Plans

Plan
8th
9th
10th
11th

Year
1992-1997
1997-2002
2002-2007
2007-2009

Contribution(cr)
56097
170929
394779
218510

LIC INVESTMENT IN BUILDING INFRASTRUCTURE

YR

2008-09 (Cr)

2009-10

2010-11

HOUSING

22451

24325

34185

WATER SUPPLY

37881

41120

48090

ROAD

7500

6649

6022

PORT AND BRIDGES

1516

1154

7218

LICs Social Security Schemes

LIC has covered life risk of 3 crore citizens through Social Security
Group Schemes.
Has launched Micro Insurance products for people below the poverty
line.
LIC offers protection to people below poverty line at subsidised rates
under the following social security group schemes.

1) Janashree Bima Yojana:-Normally head of the family between age

group 18-59 & engaged in any of the 45 specified vocations/occupations
are covered.Death/ cover 30000/-(accidental 75000/-/37500/-)

2)Shiksha Sahayog Yojana:-For the benefit of children of members of

Janashree Bima Yojana.Hly scholarship of Rs.600/-given to students
studying in IX to XII.(Restricted to 2 children per family).

AAM AADMI BIMA YOJANA:-For rural landless household. Head of

the family or one earning member of the family is covered. Premium of
Rs.200/- shared by central & state governments.