The Corporate Social Responsibility (CSR) 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 responsibility 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 CSR 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 CSR activities. We see CSR 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 CSR committee and is working closely with them on various partnership models.
The CSR 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 CSR 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 initiated pilot projects with NGOs 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.

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.

Project Pragati

Rotary International Club and MCX launched ‘Project Pragati’ - a joint CSR project on January 13, 2007.An MCX Centre of Academia initiative ,‘ Pragati ‘ is a special training drive with Rotary International Club, 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) - Mission 2007 

MCX has joined hands with MSSRF which aims to connect every village through computer by the year 2007. It 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 is providing price information to 38 such centers being run by them. MCX will also be providing them with content on Future market and commodity market in order to aid them 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.

The Energy Research Institute (TERI)

The objective behind this association between MCX and TERI is to rely on the expertise of TERI and to have MCX as partnering them 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 them 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, give framers suggestions regarding their queries related to crops etc. 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)

MCX has an agreement with Indian Society of Agribusiness Professionals (ISAP), which is aimed at collaboration between both parties to work together for the fulfillment of CSR activities of MCX. ISAP is a non-governmental, not-for-profit organization, with a network of agriculture and allied sector professionals in India and SAARC countries. The main objective of this project is to offer training and capacity building for policy makers, farmer leaders, grass root NGOs and NGOs working on policy.

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 50 programs covering more than 6500 farmers across 14 states in the country have been conducted. These program have been conducted in association with Forward Market Commission (FMC), Indian Society for Agribusiness Professionals (ISAP), Federation of Farmers Association (FFA) and Agriculture Universities

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.

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

As part of its CSR 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. 
 
Old Clothes/ Books/ Toys Donation Drive
As part of its Employee Volunteerism program, Group CSR 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.

Contact Details
Multi Commodity Exchange of India Ltd.
102 A, Landmark, Suren Road, Chakala, Andheri (East),
Mumbai - 400 093.
Tel: 022 66494000 / 26836016  Fax: 022 66494151
Email: info@mcxindia.com
Website :  www.mcxindia.com/