Consider the following statements: I. The Reserve Bank of India mandates all the listed companies in India to submit a Business Responsibility and Sustainability Report (BRSR). II. In India, a company submitting a BRSR makes disclosures in the report that are largely non-financial in nature. Which of the statements given above is/are correct?
Explanation
The Business Responsibility and Sustainability Report (BRSR) is a disclosure framework introduced by SEBI to promote transparency in a company's non-financial performance, particularly in Environmental, Social, and Governance (ESG) areas.
Statement I: Incorrect * SEBI, not the RBI, mandates the submission of BRSR. * It applies to the top 1,000 listed companies by market capitalization.
Statement II: Correct * BRSR disclosures are mostly non-financial and focus on areas like environment, social responsibility, and governance.