CORPORATE SOCIAL RESPONSIBILITY: A STUDY ON SPENDING PATTERN IN INDIAN BANKING SECTOR

Abstract

The Banking sector being most regulated and compliance-friendly sectors in today’s business world directly reflects the ability and performance of an economy. The tremendous advancement in information technology and the mass spread of mobile phones in rural and remote areas have paved the way for Indian banks to achieve unattainable achievements in recent years. The Indian banking sector is an important player in contributing to the growth of the Indian economy, apart from its profitability and growth, the sector also shows the concern for social and environmental welfare by undertaking CSR activities. This practice of performing CSR Activities is not new in the banking sector, but these days, with increased significance and change in the approach by various stakeholders including the Government towards CSR in India, the various players in the Indian Banking Sector continues to be prominent in performing CSR Activities on their own priority backed up by their vision towards the concept. In this research article, the CSR Practices by the selected Public Sector and Private Sector banks in India are compared with a focus at present approach towards CSR in the economy and present the key findings thereon.