Corporate Social Opportunities (CSO)
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Overview:

The Corporate Social Opportunities (CSO) policy of MCX forms a part of the vision and mission of MCX.
As India’s no.1 Commodity Exchange, MCX recognizes its corporate social opportunities commitments in its various roles, and reaches out to cover both its employees and the stakeholders.
MCX is committed to growing responsibly. In line with best international practice, MCX aims through its CSO policy to respond to public expectations on how a well-managed company should interact with its environment; to share its good fortune by supporting merit-worthy causes; and to optimizing its positive impact on public welfare by leveraging its strengths in its CSO activities. We see CSO as a positive contributor to our growth and business.
MCX is also part of the UN Global Compact movement that supports universal environmental and social principles. It is also on board of CII Western Region CSO committee and is working closely with them on various partnership models.
The CSO mandate is a critical function of MCX, steered by the Joint Managing Director and a team consisting of Vice President, Senior Executive and Management trainee.
The various CSO activities undertaken at MCX reflect upon the core business of the company, thereby resonating with our stakeholders. Our aim is to work towards developing sustainable and viable projects that even without support are a living module within themselves, ready to be replicated by other external agencies
Gramin Suvidha Kendra (GSK)
  MCX is committed to nurturing communities that are vital for the development and prosperity of good business. Using our domain strengths to make India's process of economic growth more inclusive, in particular, by providing farmers with a level playing field and new opportunities in the domain of agricultural marketing, risk management and finance, MCX has various relationships with partners to demonstrate sustainable business models that focus on the "bottom of the pyramid". We run our community initiatives just the way we run our business – professionally, by mapping the progress, sharing the best practices applied globally and measuring and monitoring their effectiveness.
Gramin Suvidha Kendra (GSK) is a joint initiative of India Post and Multi Commodity Exchange of India Ltd. (MCX), a Financial Technologies Group company. This unique program aims to demonstrate how the widespread network (over 155,000) of India Post across the country can be synergized with MCX to cater to the need for market information, warehousing, advisory, and agriculture inputs among the Indian farming community.
Conceptualized in June 2006, the model was first launched at Jalgaon in Maharashtra and later replicated at Itarsi in Madhya Pradesh and Unjha in Gujarat. In April 2007, another center at Dhamangaon (Amravati) was also added within Maharashtra.
Currently, GSK provides farmers with facilities such as expert advice on farming problems, better warehousing, quality testing, finance against warehouse receipts and MCX spot and futures prices for their produce. To create infrastructure at the hub of the GSK initiative, MCX supplies computer terminals with Internet access, printers, scanners, fax facility, webcam, and a price ticker. In order to display the market information in villages, MCX also supplies blackboards to the village level post offices. Computers setup at sub–post offices cater to all the needs of concerned village offices reporting to it. Availability of agri inputs through this model has just been initiated at Jalgaon and this has generated revenue for the model as well as for India Post.
Once the model is made commercially self sustainable, it will be open to implementation at the national level by all interested entities. It is envisioned that GSK will act as a single-window service for all the pre-harvest and post-harvest requirements of the farming community. This model may become the e-commerce network of choice for both inputs provision and output marketing that may also include the benefits of financial inclusion in the rural areas making it the e-commerce model of choice of the nation for upliftment of the rural areas. For the agricultural input producers, this model has potential to work as a good marketing network due to its wide coverage and the trust that India Post command in the rural areas.
 
   
 
 
   
  MEDIA TRIP AT JALGAON
  The first ever media trip to Jalgaon took place on 30th of November 2007.
The objective was to sensitize the media towards the concept of Gramin Suvidha Kendra and give them a first hand exposure to this unique CSO activity run by MCX in coordination with India Post.
The media was well represented by journalists from main line media as well as regional media. Electronic media was also present.
Besides the presence of MCX representatives (which included Mr. Lamon Rutten, Joint Managing Director), also present were representatives of our various partners.
Mr. Manoranjan Sahoo from Sriram Seeds, Mr. Rankam from Syngenta India and Mr. Nalwade from Mahyco Seeds spoke with the media on their cause and commitment to work on the GSK platform. Mr. Jayabhaiya, Director, Aurangabad Postal Services interacted with the media and gave the India Post perspective.

 
 
   
  GRAMIN SUVIDHA KENDRA PROJECT WINS BSE - CSR AWARD
  FT Group CSO entry - Gramin Suvidha Kendra (GSK) model is one of the recipients of the 5th BSE CSO Awards. The function held on 14th December at the BSE International Convention Hall and was presided over by the MD & CEO of Bombay Stock Exchange, Mr. Rajnikant Patel. The award giving ceremony will be held on January 18th. The contest received 270 entries and the MCX GSK model was judged as one of the most innovative models along with other winners such as Dr Reddy's Foundation, HDFC Bank, YES Bank, Mahindra and Mahindra, SKS Microfinance, Designmate and Reliance Mutual Fund.
 
         
   
Rotary International
  An MCX Centre of Academia initiative,' Pragati ' is a special training drive with Rotary International, and an attempt by MCX to create empowerment with education and awareness thereby achieving economic growth in the rural strata.
 
 
 
   
M S Swaminathan Research Foundation (MSSRF)
 

MCX has joined hands with MSSRF which has a network of Village Resource Centers (VRC's)/ Village Knowledge centers (VKC). Most of these centers are located in Pondicherry and Tamil Nadu. MCX has committed to provide these centers with the future and spot price information.. MCX will also be involved in their training programs. This will create awareness among the youth and will empower them to participate in trading in future market. MCX is also working on providing information to the farmers through the bimonthly newsletter published by MSSRF. Along with MSSRF, MCX is a partner in the National Mission 2007 program of the government, which aims to connect every village through computer by the year 2007.
   
The Energy Resources Institute (TERI)
  The objective behind this association between MCX and TERI is to rely on the expertise of TERI and to have MCX as a partner in their experimental initiatives. TERI is experimenting on ICT inclusion of remote areas. Towards this, it came with the concept of village level kiosks aimed at facilitating services very local in nature. The idea behind these kiosks is to equip a person with all the ICT equipments and to help him to run this center in a self sustainable manner. Along with this other objectives are to give computer education to the local people and children, and give framers suggestions regarding their queries related to crops. Two centers at Supi (Mukteshwar) and Sahiya (Dehradun) have been set up with MCX contributing with the CT hardware and TERI arranging for the infrastructure, systems and processes of using them. In addition, MCX is financing the development of a web-portal, which will act as the single window for the vast range of services to be offered through these kiosks
   
 
 
   
Indian Society for Agribusiness Professionals (ISAP)
  ISAP, which is a non-governmental, not-for-profit organization, with a network of agriculture and allied sector professionals in India and SAARC countries and MCX has reached out to through various awareness program and capacity building workshops to policy makers, farmer leaders, grass root NGOs and NGOs working on policy.
   
Cardinal Edge
  MCX has partnered with Cardinal Edge (CE), a Management Consulting Organization that provides consultancy and project execution on a wide range of assignments. Their strength lies basically in rural development domain with strong functional skills (like issues of risk management). With MCX, CE is exploring ways to establish linkages and demonstrate ways in which farmers can participation on the futures exchange.
Other than doing research and analysising existing contracts and identifying relevant changes based on field inputs, CE would also interface between farmers and NGOs to facilitate linkages between aggregator, farmers and exchange.
The partnership with CE will help facilitate convergence among farmers and the exchange resulting in a win-win situation because of price risk management through commodity derivatives trading. It will catalyze the agricultural price risk management scenario in India to benefit the growers and cultivators of all major crops of India and provide a framework or model for price hedging through commodity derivatives
   
 
 
   
Farmer Awareness Program
 

In order to create a know-how regarding the commodity exchange and its benefits for farmers, farmer awareness programs are conducted at several places through out the country. Through these programs, farmers are made aware regarding the role MCX plays in uplifting small framers using technology. A total of 69 programs covering more than 10, 845 farmers across 14 states in the country have been conducted. These programs have been conducted in association with Forward Market Commission (FMC), Indian Society for Agribusiness Professionals (ISAP), Federation of Farmers Association (FFA) and Agriculture Universities.
   
 
   
 
 
   
MCCP Training for the Specially Challenged in Association with NASSCOM Foundation
 

As part of its CSO activities, MCX under the aegis of its Center of Academia in association with NASSCOM Foundation has organized a 3 day MCX Certified Commodity Professional (MCCP) class room training course for the specially challenged candidates. The MCCP is a certification exam conducted by Training department of MCX that helps to develop Commodity Professionals.

The MCCP program is being conducted gratis on three consecutive Saturdays starting from 6th of October and is being held at the NASSCOM office at MIDC, Andheri.
The first of its kind, this program is aimed at making the specially challenged gain skills in the area of commodity trading. This batch consists of 12 candidates having different levels of disability ranging from Muscle Dystrophy, Polio, Neurological Disability, or Cerebral palsy. Candidates have come from MBA foundation and the Spastic Society, both of which are NGOs working for the disabled.

The MCCP course will be followed by an online examination that will be conducted after the course is over. It is aspired that through this course, the specially challenged acquire skills that will enhance their employment status.

   
 
   
   
Price Information Dissemination
 

At MCX, we believe farmers need to know the best price available for his produce at the spot as well as in the future market. A transparent pricing mechanism will aid farmers in making efficient cropping or marketing decisions. We reach out to farmers at different avenues through various models and make price information available across the country. MCX started by disseminating prices to it in partnership with the Department of Agriculture and Co-operation. To empower farmers with informed decision making, MCX and National Spot Exchange Limited (NSEL), in collaboration with Maharashtra State Agricultural Marketing Board, established Commodity Suchna Kendra at APMC, Vashi in Mumbai. Our technology department has made price information through tickers available at various mandis across the country in the states of Maharashtra, Gujarat, Andhra Pradesh and Punjab. Other than the APMCs, web portals with customized messages and price information have been designed and integrated for the Kerala State IT Mission (KSITM) and MSSR Foundation. Price tickers have been displayed at Churchgate and CST railway stations of Mumbai. Besides reaching out through post offices under the Gramin Suvidha Kendra projects, technology department has also provided price dissemination services to TV channels so that information is carried across the country. MCX has also tied up with BSNL and MTNL mobile networks for provision of real time price information through SMS.

   
 
 
   
Price dissemination at Kisan Seva Kendra (IOC)
 

In keeping up with its objective to strengthen its corporate social opportunities (CSO) activities, Multi Commodity Exchange (MCX) and Indian Oil Corporation (IOC) on 27th of March 2008 entered into an agreement to disseminate price information about commodities among farmers. The MoU was signed by Mr. Lamon Rutten, JMD, MCX and Mr. K. R. Suresh Kumar, GM – Retail, IOC.

In this endeavor MCX seeks to improve awareness of futures trading, price risk management and facilitate better access to markets for the farming community through partnerships with IOC.

Kisan Seva Kendra (KSKs) run by IOC carry on research, develop, pilot and run sustainable business models by using ICT (Information and Communication Technology). IOC has agreed to place boards that contain price and other information about commodities traded on MCX at its petrol pumps to benefit farmers. Initially the project will be started in the close vicinity of the 6 GSK centers across 4 states.

According to Mr. Kumar, GM, IOC, “As part of our group strategy to enable farmers to take informed decisions, we have decided to alliance with MCX’s GSK to beef up information base to benefit farmers through IOC’s petrol pumps in these rural areas. Most of the pumps are also geographically close to GSK locations so that these Kendra coordinators can send in the price information by post.”

For MCX it is another way of ensuring that it reaches out to as many farmers as possible. While price information spread is one part of the strategy of MCX; to strengthen awareness about various aspects of agricultural economy is another. The most critical consideration is to follow it up with farmer awareness camps, to be organized by the KSKs operators of IOC. Needless to add such follow-up will add value by way of updating of information including price information through GSK.

   
 
 
   
 Taking care of our environment

We recognize that our business activities have direct and indirect impacts on the societies in which we operate. At MCX we thrive to minimize the negative effects of our footprint on the environment in which we operate. This part of the policy encompasses both environmental and social considerations. In the environmental domain, we strive to reduce energy usage and wastage and adopt safe recycling mechanisms. Our new building that will be functional shortly is equipped with the best global practices for conserving energy. We have put in place glass windows that are double vacuumed so that they conserve energy. There is a total glass facade that allows more of artificial light to flow in. Water conservation systems through efficient plumbing means and rain water harvesting are already being made part of the architecture. Special washroom facilities for the disabled along with a ramp at the entrance reflect the values of MCX that strive to embrace all strata of society.

 
 Health and Safety

MCX is committed to providing an environment which is both healthy and safe. MCX provides for appropriate insurance cover mechanisms for the employee and his/her family. Strong health and safety practices contribute to effective governance within the company. At the moment spread over 6 different buildings, MCX has provided for first aid kits in all the buildings. Our policies avoid discrimination in case of permanent disablement due to illnesses such as HIV/AIDS.
In the upcoming new infrastructure, MCX has made provision for the placement of fire detection systems, fire exits and all relevant safety practices.
Drivers of MCX employees are given safety training and their driving skills evaluated on a time to time basis.
 
 Contributing our bit towards the society

As part of our continuous effort to reach out to various sections of the society, MCX has tied up with Home for the Aged and Cheshire Home for the Disabled wherein MCX has made arrangement to donate old newspapers to these two institutions. Inmates of both these institutions are engaged in making paper bags from these newspapers, which acts as a source of revenue for them.

   
 
 
   
 
  EMPLOYEE VOLUNTEERISM
   Blood Donation Drive 2008
 

As part of Group CSO activities, Financial Technologies Group of Companies in association with Rotary Blood Bank organized the first ever all India Blood Donation Drive on May 23, 2008. The drive conducted at the L&T Health Centre, Mumbai and at various other locations across cities saw more than 500 units of blood being collected. Generally there is huge shortage of blood in the month of May. Keeping this in mind; this year the Blood Donation Drive was strategically held in month of May. 

Mr. Paras Ajmera, Director Operations and HR, inaugurated the event. The drive managed to cut across all barriers and included drivers, security personnel, and top management who came forward to contribute to this noble cause.. At the end of the day 507 blood units were recorded across India and a new record was created.

 

Location

Employees participated

Hyderabad
06
Delhi
34
Ahmedabad
27
Lucknow
12
Indore
09
Bhubhaneswar
21
Jaipur
10
Chennai
12
Kolkata
27
Rajkot
08
Aurangabad
38
Bangalore
01
Mumbai
302
Total
507
   
 
 
  >> Event Photographs
   
   Low Hemoglobin Drive 2008
 

Taking the All India Blood Donation Drive to a different level and giving it a new value add, Financial Technologies Group Companies organized the Low Hemoglobin Cure Drive in association with Rotary Blood Bank. The programme covered employees who were detected with low hemoglobin during the Blood Donation Drive held on 23rd May 2008. The drive was completed in two phases in the first phase held on 17th June 2008 blood samples were taken for a complete blood analysis and blood count. In the second phase held on 11th July 2008, employees detected with iron deficiency and/or thalassemia minor were personally counseled by Dr B C Mehta, hematologist and Dr Yogini Patel from the Rotary Blood Bank and given medicines.

Quotes of Employees:

“Thanks CSO for the care and guidance provided for recovering me from iron deficiency!!! And hope this kind of drives is conducted in future too.” Uma Naicker.

“It’s a wonderful experience. I will have now normal Hemoglobin, Thank You CSO” Reena Tailor

“I am thankful to FT for its exemplary Employee concern. I really appreciate Rotary Blood Bank, for its "Hemoglobin test drive". They not only detect the hemoglobin-level but also find out the reasons for the low-hemoglobin. We are extremely benefited by this drive, which spreads awareness about blood-related diseases such as Thalassemia, and guide you further for a healthier life.” Samrita Pattnaik.
   
 
 
  >> Event Photographs
   
   World Environment Day Celebration 2008
 

Group CSO in coordination with the communications department of Financial Technologies Group celebrated World Environment Day on 4th and 5th June 2008. The theme “Co2 Kick the Habit! – Towards Low Carbon Economy” was integrated in the creative workshop organized for employee kids/relatives in the age group of 14 – 18 years and invited suggestions from employees to conserve environmental resources either at home or work place. The workshop covered issues related Global Warming and its consequences, Media and its importance in society, and importance of journalism and advertising as a career choice.

The workshop was inaugurated by Mr. Anjani Sinha, MD and CEO, NESL. In his inauguration note Mr Sinha emphasized the importance of environmental consciousness and the need for each employee to do his/her bit to save the environment. Mr. Brian Pereira, Chief Editor, CHIP magazine was the special invitee who took the participants down the life of a journalist and how the career graph of a journalist evolves. The in house market communications team spoke on advertising and graphics and its career opportunities in that field. During lunch period a documentary prepared by former vice-president of USA, Al Gore “Inconvenient Truth” was shown to children. The closing ceremony was graced by Mrs Rupal Shah w/o Mr.Jignesh Shah Chairman and group CEO Financial Technologies who felicitated the young participants and encouraged Group CSO to continue to hold such programs which harness young minds and explore their potentialities.

   
 
 
  >> Event Photographs
   
 
 Blood Donation Drive 2007
As part of its CSO activities, Financial Technologies Group of companies in association with Rotary Blood Bank organized a Blood Donation Drive on 10th August 2007 at the nearby L&T Health Center. This event kicked off a series of employee involvement programs that the FT group of companies plans to launch throughout the year. The blood donation drive was the first event that bought together employees from all the group companies and that set across an exemplary example of coordination and team work. Working closely with HR and Admin, the logistics for the whole process was worked out right from sending the initial mail to the designing of posters, to the actual holding of the event.
Beginning with a modest hope of receiving may be just 5/10 volunteers, the team worked around the clock to ensure that the message was read by all and that maximum people came forward for this noble cause. When the last registration closed at 230, a realistic target of 150 blood units was kept, keeping in mind rejections and disqualifications on medical grounds.
Mr. Manjay Shah, Director Business Development, set the event rolling by inaugurating it and confidently vouching that the target would be achieved, given the young and vibrant workforce that the company has. And he was proved right when at 4 pm the 200th mark was crossed! The drive managed to cut across all barriers and included drivers, security personnel, top management and even the office boys coming forward to do their bit for the society. When the drive ended at 6pm, the figure had reached to 282 blood units. This was a record breaking epoch drive for Rotary Blood Bank whose largest score so far had been 263 in a single day drive. Truly a momentous day in the history of employee involvement for the FT group of companies.
 
 
 
 
 HIV/AIDS DAY
India has among the highest number of persons living with HIV/AIDS in the world today, although the overall prevalence remains low. The National adult HIV prevalence in India is approximately 0.36%, which corresponds to an estimated 2 million to 3.1 million people living with HIV in the country. FTIL group of companies understands the pandemic nature of the disease and has taken several measures to combat the disease among its employees.
  • FTIL group is committed to the cause of HIV/AIDS and has put in place a comprehensive HIV/AIDS policy
  • FTIL group is committed to putting in place awareness and capacity building programs
  • FTIL group is committed to providing a work environment free of stigma and discrimination
As extension of its CSO activities towards the welfare of employees and to show their solidarity for those who are infected and affected by HIV/AIDS, RED RIBBON Awareness was inaugurated by the JMD, MCX, Mr. Lamon Rutten. The red ribbon is the international symbol of HIV/AIDS awareness. Employees wore the red ribbon to express their solidarity for the cause of combating HIV/AIDS and in spreading its awareness.
 
 
 
 Old Clothes/ Books/ Toys Donation Drive
As part of its Employee Volunteerism program, Group CSO and Group HR of Financial Group of companies organized old clothes /books/ toys drive to reach out to the disadvantaged and unfortunate. The drive was held on August 13, 2007 to coincide with celebrations marking 60 years of India’s Independence
Mr. Dewang Neralla, Director Technologies inaugurated the drive urging all to contribute towards the noble cause..
Working in tandem with HR and Admin, labeled boxes for men, women, children, toys, and books were kept across all the 17 floors of the 6 buildings in which the various group companies are housed. Volunteers later segregated the clothes and other materials according to the requirements made by certain NGOs.
Old clothes for the adults and children were distributed at Asha Daan at Byculla, Little Angel of the Poor Home for the Aged at Andheri and Cardinal Gracias Destitute Home at Santacruz west.
   
 
 
  >> Event Photographs
   
   FT Group Participates in MUMBAI MARATHON - 2008
  As a tribute to Mumbai's spirit and to support the noble cause of Education for all, Financial Technologies Group has initiated a step to participate in Dream Run, Mumbai Marathon 2008. To be part of this noble cause Financial Technologies joined hands with CRY (Child Rights and You, a leading NGO of India) for an event that was held on January 20, 2008.
Out of all the Volunteers who had given their applications for running for Marathon, 30 has been short listed for the final Run based on their fitness. The Marathon started at 9:00 am from Azad Maidan at VT and all the participants completed the race which consisted of 6 KM of run. A few Quotes from some of the athlete of FT who participated in the race are

"I had a great experience participating in Standard Chartered Mumbai Marathon. I feel it's a perfect medium to express our thoughts and to make citizens of our nation aware about their rights and duties" Yogita Nawani FTIL

"Standard Chartered Mumbai Marathon gives the spirit that keeps you moving throughout the run. Though the agenda of this run was to raise the funds for the NGO's, yet the environment was competitive enough to provide extra energy to participants for completing the race before time. I thank the MCX CSO team for giving me the opportunity to be a part of Mumbai Marathon" Afzal Saboowala FTKMC
   
 
 
   
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  Useful links of CSO
 
  • www.csr-news.net
  • www.csrwire.com
  • www.csr-literature.net
  • www.csrdaily.com
  • www.csr-asia.com
  • www.eldis.org
  • www.unglobalcompact.org
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