Exploring the responsiveness towards Corporate Social Responsibility: A study of select banks in India

Abstract

After the enactment under the New Companies Act 2013 passed in the parliament which has been enforced from 1st April 2014, Corporate Social Responsibility (CSR) has become obligatory for a certain class of companies in India. Nevertheless, forcing the Indian banking sector too, to take their social responsibility more serious. In this context the present paper examines the CSR spending pattern of Indian Banking Sector. The study also focus on the various CSR initiatives taken by these banks. The study is based on secondary data collected from their annual reports, which is analysed with the help of average and percentage, presented in graphs and tables. The findings can assist to reveal the preparedness, project were these banks stand and further frame their future CSR policies properly by considering schedule VII as the guiding force.