New Delhi: Shri Ram College of Commerce (SRCC), Delhi University (DU), has been announced as a National Centre for Corporate Governance by National Foundation Corporate Governance (NFCG), under the Ministry of Corporate Affairs. This achievement of SRCC has made it the first ever college in DU get such a status.
As per sources, the announcement of the new status was made during an international seminar on corporate governance held in the college premises. Answering the question why it has been given such a status, P C Jain, Principal, SRCC, said that the college is well known for its commerce and business education, therefore, the foundation decided to grant it the status of a national centre.
Talking about the concept of corporate governance, Anil Kumar, faculty and convener of the centre, explained that it is the system by which a company is controlled and directed. This also includes the company’s policies such as working for the benefit of all stakeholders and keeping funds for corporate social responsibility (CSR).
As per Kumar, the Securities and Exchange Board of India (SEBI) introduced the concept in the country back in 2000. However, later in 2003, Narayana Murthy Committee passed new recommendations in the code of corporate governance. He further explained that the recognition of the centre as a national centre will enable the college to work on corporate governance at different levels of specialization.
Kumar also said that they will now be able to hold international conferences and forge new tie-ups for research. In addition, the funding for the projects and allied programmes will be made by the foundation. Students are enquiring on how they can be a part of it and the centre is still chalking out how to involve students. However, the research projects will be open to students who will work alongside faculty. Besides, the centre will run training programmes for various company executives and directors, added Kumar.
