Concept PR forays into CSR consultancy - a 1st in PR industry

·        Sets up Concept CR to work with corporates on customized, focused CSR projects

·        To Ideate, Identity, Initiate, Implement and work on Impact Check and Image Building

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MUMBAI: In a first in India’s Public Relation consultancy business, Concept PR has announced the launch of its CSR wing called Concept Community Relations (CR).

“With the new Companies Act making it mandatory for corporates to make CSR spend of at least 2% of their net profits, we expect that the community and social development landscape to witness a sea change. This also offers a huge opportunity for corporates to give back to the society,” Mr. Vivek Suchanti, Chairman and Managing Director of Concept Group, said.

Vivek Suchanti

Said Mr. B N Kumar, Executive Director of Concept PR who heads Concept CR initiative: “We have been advising companies on the need to concentrate on CSR as part of their social obligation rather than looking at it as a tax saver. We are now initiating an entire new division which will advise clients with a 360-degree approach on CSR.”

Concept CR will not only rope in select NGOs after a careful scrutiny, but also work on creative and unique ways of making the CSR spend meaningful. “BNK’s team, with their vast experience can identify the right CSR project or even customize it to suit a particular company’s business,” Mr. Suchanti explained.

Apart from CSR, the bouquet of consultancy services that Concept PR offers include: Corporate Communication, Media Relations, Investor relations, Crisis Management, Media Training, Capital  Market practices, Internal Communication, Sports and Event Communication, Brand and Image Building, Roadshows and the new age Online Reputation Management and Social Media.

As per the new Companies Bill that has received Parliament’s seal of approval, Section 135 stipulates: “Every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors, out of which at least one director shall be an independent director.”

BNK

The CSR Committee will also have to formulate policy and monitor the implementation and report back to the Board of Directors.

“The Board ….shall ensure that the company spends, in every financial year, at least two per cent of the average net profits of the company made during the three immediately preceding financial years, in pursuance of its Corporate Social Responsibility Policy,” the Bill says.

The Act also stipulates that companies will have to give priority to local areas where they operate from, which makes it imperative for them to focus on local needs. The Act, thus, seeks to ensure an all round development of the geographies around a corporate entity.

Over the past decade or so, Concept PR has grown into a pan-India consultancy with ten offices and 40 associates understanding the local centric communication needs – be it linguistic or cultural. “Since we understand the local soil and the social pulse, we are better equipped to design and execute need-based and unique CSR projects,” said Mr. Kumar.

Under its service offerings, Concept CR will Ideate with client’s CSR teams to Identify, Initiate, Implement and Impact Check of the projects, apart from Image Building.  

Since the Boards of Directors are accountable for every rupee that is spent, CSR activities may have to form part of the annual reports, much like the section on Corporate Governance. In the new, emerging transparency regime CSR spend will be most visible investment and the impact will therefore play a major role in a Company’s image, Mr Suchanti explained.

Formulating a CSR policy that fits into a particular company’s scheme of things will be a big challenge as the Companies Bill that has been passed by both the houses of Parliament and will shortly become an Act since the Presidential assent is imminent. 

Concept PR is a leading PR and IR consultancy in the country with major clients spanning sectors like BFSI, infrastructure, real estate, power, aviation, transport, education, retail, tourism, lifestyle, entertainment, sports, textiles, gen and jewelry, health care amongst others. The agency is in a unique position to understand a corporate’s needs, mission and vision and above all the responsibilities of a Corporate Citizen.

“This is not going to be just another spend or a matter of routine communication exercise. Companies will have to take it very seriously and we are happy that we have geared up to meet the new challenge,” Mr. Kumar added.

RSBL: Leading the bullion juggernaut in India

By A Special Correspondent

The bullion market in India is an index that signifies the economic growth of the country. It indicates the amount of wealth the country possesses. Valued by its purity and mass, bullion is the bulk quantity of precious metals comprising gold, silver and platinum that can be assessed by weight and cast as a lump.

India is one of the biggest consumers of gold in the world. People in India buy gold not only for ornamental purpose but also as an investment option. In fact, investment in gold has always been a source of profits to everyone in the long term. People are always willing to invest in gold bullion.

RiddiSiddhi Bullions Limited (RSBL) is a leading company in India which deals in bullion, specialising in bars and coins of various precious metals like gold, silver and platinum. Being a company which facilitates investment in precious metals, RSBL endeavours to combine its technical and market experience with hard work and dedication to provide people the ability to make informed investment decisions.

RSBL holds the largest variety of bullions and coins across India. The company’s commitment to excellence in customer service is evident in all facets of its business. RSBL's success is based on customer trust and respect backed by its highly valued staff and best quality products with modern trading mechanisms.

In a short period of time, RSBL has managed to become one of the leading players in the bullion industry. It has been among the market leaders in providing wholesale and retail level bullion delivery in the spot markets in India. Today, RSBL is India’s largest bullion trading company with a credit rating of SME 1 from CRISIL Ltd – the highest rating on the SME rating scale.

RSBL has successfully launched various products on the back of its expertise, brand equity and vast experience in the market. The company’s flagship product ‘RSBL SPOT’ is India’s first fully electronic over-the-counter (OTC) delivery based bullion-trading system and arguably the most successful in the world. It has more than 3000 online clients and numerous delivery centres across India. Over 90% of its bullion sale takes place through RSBL Spot.

As an extension to RSBL SPOT, RSBL has introduced an eCoins system – ‘RSBL eCoins’. This is a B2B system, wherein which one can buy or sell gold and platinum coins/bars as per competitive market price in Indian rupees. It has created new inroads in online distribution and pricing system for coins in India. This is one of the fastest growing products in the company’s portfolio.

RSBL also continues to run its successful classic model of retail coin distribution and it is a leader in that via ‘RSBL Coins’ - Pure Gold, Silver & Platinum Coins/Bars. Available in different shapes and sizes to meet individual requirements, these coins can also be customised to meet gifting/corporate requirements.

RSBL's ‘Optionally Convertible Debentures (OCDs)’ is a innovative product, which takes advantage of the price differences between gold spot/forward and futures prices of the commodity. The product has consistently provided investors with a return of over 15% per annum since its launch in 2007.

RSBL’s 'Bullion++' is another revolutionary product that provides investors with an opportunity to earn dual income: from an anticipated price appreciation and from lending income. Furthermore, investors need not worry about purity, storage charges, theft and insurance hassles. Investors can also choose non-lease model where the bullion is just stored.

Prithviraj Kothari, Director of RSBL, can be credited for the development of the gold, silver and bullion industry in India. Known as Bullion Man in the bullion market in India, Prithviraj Kothari has played a vital role in the introduction of gold ETFs in India. Under his vision, RSBL has successfully launched India's first and only electronic over the counter bullion trading system, RSBL SPOT.

Under his direction, RSBL has consistently been ranked amongst the top 10 unlisted public companies in India by Business Standard 1000.