CSR in Indian Banks and Financial Institutions

Social responsibility is a goal-oriented concept to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere. Every business has a social responsibility which requires businessmen to consider whether their action is likely to promote the public good, to advance the basic beliefs of our society, to continue to its stability, strength, and harmony. CSR is the deliberate inclusion of public interest into corporate decision-making, and the honoring of a triple bottom line (3BL): People, Planet & Profit t (3Ps). Commission of European Communities defines CSR as a concept “whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis.” The contribution of financial institutions including banks to sustainable development is paramount, considering the crucial role they play in financing the economic and developmental activities of the world. In this reference, the present paper attempts to analyze the CSR practices in the Indian banking sector