Importance and awareness of corporate social reporting practices in banks - an empirical analysis in Punjab

The study gives an insight about the importance and awareness among the people of Punjab regarding corporate social responsibility practices being undertaken by banks in India. Questionnaire is used to check the awareness level and factor analysis has been applied to study the importance of CSR practices in Punjab. People of Punjab are of the view that if banks would implement CSR, ultimately they will give this burden to their customers only who are dealing with them. Further, CSR performance of banks is not taken into consideration by people while choosing a particular bank for their financial operations. There is not much awareness about the CSR practices of banks in Punjab. Eradicating extreme hunger and poverty is the activity which most of the people (62.2%) think that it is being performed by banks while there is least awareness regarding the activities like reducing child mortality (24%) and combating human immunodeficiency virus (3% only). Eradicating extreme hunger and poverty and promotion of education are the most preferred CSR activities and contribution to funds for socio economic development and SCs and STs and minorities is the least preferred CSR activity.