Magma Fincorp Ltd. wins Award for CSR
Bangalore, 21st December ‘16: Magma Fincorp Ltd., a leading retail asset finance company, has yet again won accolade for its unique CSR practice “Highway Heroes”. Magma recently won the second prize in the CSR Best Practices category at the National HRD Network's Annual HR & CSR Competition 2016.
Over the years Magma has demonstrated several laudable examples of responsible corporate action for social impact. It has been a continuous endeavor of Magma to take small but purposeful initiatives to reach out to touch the lives of various sections of the society.
The competition was part of the National HRD Network's Annual HR & CSR Competition held in Bangalore in December 2016. The other players nominated in the category included top names like L&T Infotech, UB Group, BOSCH Limited, and MindTree Consulting, Brillo Technologies, Bharti Foundation, Himalaya Drug Company etc.
Mr. Kaushik Sinha, Head of CSR, Magma Fincorp said, “We are humbled by this honour, a recognition of our effort towards the betterment of the environment and society through our CSR initiatives. This is the 5th CSR award that we won over the last 6 months. This recognition will inspire us to continue to take small but purposeful initiatives to reach out and touch the lives of various sections of the society”.
The other awards that MagmaFincorp has won for excellence in CSR in the last 6 months include CSR Projectof the Year (2015-16) at the 3rd CSR Impact Awards 2016 organised by NGO BOXand NEXTGEN, CSR Leadership Award at National CSR Leadership Congress &Awards 2016, Corporate & Business Communication at National CSR LeadershipCongress & Awards 2016 and Corporate Responsibility Award 2016 by InvestorReview magazine, UK.
About Magma Fincorp Limited
Magma Fincorp Limited (“Magma”) is anon-deposit taking non-banking finance company (NBFC), registered with theReserve Bank of India (RBI) as an Asset Finance Company. The Company, havingstarted operations over two decades back, is listed on the Bombay StockExchange Limited and the National Stock Exchange in India.
Magma provides a bouquet of financialproducts including commercial finance, agri finance, SME finance and mortgagefinance and has a general insurance subsidiary. Magma with a focus on RurbanIndia has widespread coverage with presence across 1, 900 Talukas and 2,900Locations. Magma has a dedicated base of around 7 lac plus customer profile andmanages a Loan book of Rs17600 crore. The company has 268 branches in 22 states/ UT and employs around 8800 people.