SRINAGAR, April 20 -- Early Times Report
Providing funds under Corporate Social Responsibility (CSR) is mandatory for business institutions. There is a law that prescribes minimum of 2% of average net profit of preceding three years to be spent for CSR initiative during the year. After 2014 floods Srinagar Golf Club got damaged due to water-logging for several months. J&K Bank, instead of taking up projects of public importance, spent around Rs 20 crore for up gradation and restoration of this golf course under development of sports.
The fact of the matter is that Srinagar Golf Club is used by elites of Kashmir rather than ordinary people. During his tweet former Chief Minister had criticized the government for what he called government "...