Corporate social responsibility practices in Indian Banking sector

At present, the world over, there is an increasing awareness about Corporate Social Responsibility (CSR), Sustainable Development (SD) and Non Financial Reporting (NFR). The participation of financial institutions including banks to sustainable development is paramount, considering the critical role they play in financing the economic and developmental activities of the world. In this paper authors have focused the CSR practices in Indian banking and financial institutions, different case studies and key findings of the study and a few conclusions. The present study is based on the case study method and an endeavor has made to know the status of CSR and strategies adopted for CSR in the Banking sector. Twelve banking and financial institutions are selected under stratified random sampling method from the vast network of banking and financial institutions of the country. Data has been collected from the secondary sources most particularly from concerned Bank's Annual Report, websites, newsletters and Jour. The study covers journals from year 2007 to 2013 time period. From the case study, it is observed that the financial and banking institutions of the country are directly engaged in social banking and developing banking approach. Further, all banking and financial institutions under study approach both fund based and non fund based activities as a part of CSR activity.