Corporate social responsibility in banking sector: a study on Indian banking sector

In recent years the concept of corporate social responsibility (CSR) has emerged very rapidly in all the sectors in the world and India. CSR is a concept where corporations, apart from their financial interest, show interest in integrating environmental and social concerns in their operations to produce overall positive impact on their stakeholders and society at large. In a developing country like India, the banking sector plays a crucial role in developing the economy of the country by integrating CSR practices in their financial practices. India is the first country in the world to make CSR mandatory for corporations. In this reference, the present paper attempts to analyse the performance of Indian banks. CSR reports of all selected banks have been collected and studied. The study reveals that number of CSR initiatives and the amount of CSR spending significantly differs among public and private sector banks.