A Study on Corporate Social Responsibility of Selected Public and Private Sector Banks in India

Abstract

In the present times Corporate Social Responsibility (CSR) plays a major role in banking and other sectors in achieving their objectives. In India the companies are adopting Corporate Social Responsibility (CSR) practices at a very fast rate due to their ethical standards as well as due to the requirements of the law. The companies are aware about their critical role in the society. The banking sector is no exception in this context. They are also adopting Corporate Social Responsibility practices. The public as well as private sector banks have already initiated many social and economic welfare programs which includes community welfare, education, environment protection, poverty eradication, health and medical care, rural area development etc. In the present study the Corporate Social Responsibility practices of banks has been studied. For this purpose, one bank from public and one from private sector has been selected. The public sector bank chosen for the study is State Bank of India and HDFC Bank has been selected from the private sector banks. The study analyzed and compared the total expenditure incurred by the banks on various Corporate Social Responsibility activities. The study found that both the banks have increased their spending on corporate social responsibility activities.