Practices Of Corporate Social Responsibility (Csr) In Banking Sector In India: An Assessment
At present, the world over, there is an increasing awareness about Corporate Social Responsibility (CSR), Sustainable Development (SD) and Non-Financial Reporting (NFR). The contribution of financial institutions including banks to sustainable development is paramount, considering the crucial role they play in financing the economic and developmental activities of the world. In this paper authors have high lighting the CSR practices in Indian banking and financial institutions, different case studies and key findings of the study and a few conclusions. The present study is based on the case study method and an effort has made to know the status of CSR and strategies adopted for CSR in the Banking sector. Twelve banking and financial institutions are selected under stratified random sampling method from the vast network of banking and financial institutions of the country. Data are collected from the secondary sources most particularly from concerned Banks Annual Report, web sites, newsletters and other secondary sources. The study covers the time period 2007 to 2010. From the case study, it is observed that all the financial and banking institutions of the country are directly engaged in social banking and developing banking approach. Further, all banking and financial institutions under study undertakes both fund based and non-fund based activities as a part of CSR activity.
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