IFB Logo
Home Contact Site Map


This Corporate Social Responsibility Policy (‘The Policy’) has been formulated in compliance with section 135 of the Companies Act, 2013 read with applicable Rules thereto as amended from time to time. The Policy has been formulated by the CSR Committee of the Company and has been approved by the Board in its meeting.

The Policy is framed to guide its strategic planning and provide a roadmap for CSR activities to be undertaken by the Company.

The CSR activities to be undertaken are as under: i. Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water ii. Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects.

The CSR Activities will be monitored by CSR Committee from time to time.

This Policy shall be uploaded on the Company’s website for public information and a web link for the same shall also be provided in the Annual Report of the Company.


1. The Company shall not enter into any contract or arrangement with a Related Party without the approval of the Audit Committee/Board. Prior approval of the Audit Committee/Board shall be obtained for all Related Party Transactions other than those with Exempted Wholly Owned Subsidiaries, if any (whose accounts are consolidated with the Company and placed before the shareholders at the general meeting for approval).

2. The Audit Committee may, in the interest, of the conduct of affairs of the Company, grant omnibus approval for Related Party Transactions that are repetitive in nature, subject to the following conditions:

i) The name/s of the related party, nature of transaction, period of transaction, maximum amount of transaction that can be entered into;

ii) The indicative base price / current contracted price and the formula for variation in the price, if any; and

iii) Such other conditions as the Audit committee may deem fit

3. The transactions between the related parties shall be in the ordinary course of business and at arm's length basis.

4. In the event any contract or arrangement with a related party is not in the ordinary course of business or not at arm's length, the company shall obtain approval of the Board for such contract or arrangement.

5. All material related party transactions, other than those with Exempted Wholly Owned Subsidiaries will be placed for approval of the shareholders of the Company. A transaction with a related party is considered material if the transaction / transactions to be entered into, either individually or taken together with previous transactions with such related party during a financial year, exceeds ten percent of the annual consolidated turnover as per the last audited financial statements of the Company.