Corporate social responsibility in banking sector of India
Corporate social responsibility in banking sector of India

Summary/Abstract: The paper has made an attempt to map the corporate social responsibility (CSR) in the Indian banking sector. The paper notes that recently the concept of CSR has been introduced. Unfortunately this concept has not been taken seriously by banking and other industries in India. In this direction, the paper maps the different initiatives taken by different banks in India to introduce the corporate social responsibility for sustainability. It is in this light, the paper has made an attempt to identify the impact of corporate social responsibility in terms of expenditure on CSR and sales of banks. 40 banks were selected to collect and analyze the data regarding sales and actual expenditure incurred on corporate social responsibility. To find out the relationship between sales and actual expenditure incurred by banking companies, Correlation and t-test have been applied with the help of SPSS. The analysis shows the unpleasing story of CSR in the banking sector of India. Study also reveals that amount which is kept to be utilized for fulfillment of social responsibility, is not utilized fully. Therefore it is being recommended to prepare stringent norms for successful implementation of social responsibility programmes. It is also recommended that awareness should be created about CSR amongst the general public to make CSR initiatives more effective. Realistic and operational models of CSR should be framed upon. New areas of CSR activities should be searched like CSR education, carbon management strategies, resource recycling and ecosystem conservation

• Details
• Contents