Corporate social responsibility in India; a special case study of UTI Mutual Fund

Corporate Social Responsibility (CSR) is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. World is being integrated day by day. Corporate Sectors from across the world carry out their business activities in many countries. Similarly people across the world are becoming better aware of their rights about natural resources like minerals, forest, water and air. Now, they are demanding very high standard for environmental protection from corporates carrying out business activities in their geographies. Therefore corporates are increasingly participating in various social, cultural and other developmental activities in the place of their business; thereby they are able to present better image for themselves among the people, the local administration and to the world bodies like UNIDO and face less resistant in their business activities.

In India, most of the companies whether listed or not, private sector or public sector carry out more or less some CSR activities. The CSR activity is now not limited only to manufacturing or high polluting industries but can be observed across sectors. Service industries such as financial services industries are also heavily participating in the CSR activities in India and across the world. Services sectors have realized that, for better corporate image among the people, they also need to come forward and participate in the social and cultural activities of the people, where they have been carrying out their business activities. The companies generally design and carry out such CSR activities which are align to their core business activities, and the same applies to service sector also.