The Social Initiatives Group for Managerial Assistance (SIGMA-oikos) is a student run body of XLRI that focuses on transformation and change in the social sector by contributing to the community and impoverished sections of the society under the able guidance of Prof. Tata L Raghu Ram. It is also the Jamshedpur chapter of Switzerland based organisation: oikos-international, a student organization that seeks to strengthen sustainability-oriented initiatives among tomorrow's leaders across the globe.

One of the most well-known activities of SIGMA is the DaanUtsav, which brings together schools, colleges, corporates and citizens across Jamshedpur to celebrate the joy of giving through initiatives spread over the entire week. During the Joy of Giving week, it conducts collection drives for necessities to be donated to rural households in the outskirts of Jamshedpur and local shelter homes for the underprivileged, visits to old age homes and orphanages, blood donation camps etc.

It also conducts learning programs like Basic Computer Learning Program, Basic English Learning Program, Pranyas and Extra-curricular classes like singing, dancing, chess and art to help students from less privileged backgrounds. Some of its environment-related initiatives include tree plantation & cleanliness drives. It also introduced the Proud to Ride initiative in 2015 with 100 cycles at present, to aid commute within campus and contribute towards making the XLRI carbon neutral.

SIGMA-oikos also ties up with corporate houses such as TATA Steel and JUSCO to hold case study competitions wherein the best minds from top tier B-schools across the country come together to solve problems such as water conservation, plastic usage reduction and focus on renewable energy.

SIGMA collaborates with NGOs like Goonj, SEEDS, Robin Hood Army, Helping Hearts Foundation and CHUK among others to increase the reach of its initiatives. It also helps NGOs working towards livelihood generation for the disabled and underprivileged to set up stalls for selling their products in campus from time to time.

With a long term vision, it also strives to create sustainability focus in the leaders of tomorrow through the Tarapore Young Leaders Fellowship Program wherein 16 students are selected amongst school students across Jamshedpur and are given exposure to rural communities and their problems, following which they are mentored by the team to find implementable solutions to these problems.

SIGMA-oikos also works to cultivate and nourish the growing community of social entrepreneurship by providing a platform for information exchange, networking and discovery of rising figures in the field through events such as the Social Entrepreneurship Conclave wherein award-winning social entrepreneurs come and share their stories and make it a melting pot of ideas and collaboration.