Csr Practices in Indian Banking

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Nishi Sharma - (IJAEBM) INTERNATIONAL JOURNAL OF ADVANCED ECONOMICS AND BUSINESS MANAGEMENT Vol No. 1, Issue No. 2, 058 - 066

CSR Practices and CSR Reporting in Indian Banking Sector
NISHI SHARMA*
University Institute of Applied Management Sciences Panjab University, Chandigarh-160014, India

IJ
Corresponding author: Email id: jmdnishi@yahoo.com Phone : +911722727251 ISSN: 2230-7826 @ 2011 http://www.ijaebm.iserp.org. All rights Reserved. Page 58

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Nishi Sharma - (IJAEBM) INTERNATIONAL JOURNAL OF ADVANCED ECONOMICS AND BUSINESS MANAGEMENT Vol No. 1, Issue No. 2, 058 - 066

CSR Practices and CSR Reporting in Indian Banking Sector
Abstract- In recent years Corporate Social
Responsibility (CSR) has witnessed an astounding ascendancy and resurgence at the global level. The concept of CSR recognizes an organisation‟s commitment to operate in a socially responsible manner. It takes into consideration the social and environmental implications of corporate financial decisions. Growing complexity of business, increasing concern for sustainable development, need for stewardship of natural resources and call for enhanced transparency have not only magnified the resonance of Corporate Social Responsibility but also heightened the inclination towards integration of CSR principles in the corporate activities. In this regards, actions taken by corporate houses and regulatory authorities operating in developed nations are quite satisfactory. However in developing nations the scenario of CSR activities is not so rosy. Particularly in financial sector there is an absence of stringent provisions regarding compliance and reporting of CSR activities. This has further instigated organisations to remain silent to the issue till any mandatory provision is being enacted. In addition to this the academic publication on this fiery issue also reflects the Western centric nature of research work. In fact there is an availability of very limited research work in the context of implementation of CSR practices in context to developing nations. In this reference the present paper attempts to analyse CSR practices and CSR reporting in India with special reference to banking sector.

IJ
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ISSN: 2230-7826

Key Words- CSR practices; CSR reporting;
Banking Sector; Financial Performance.

Industrialisation and commercialisation of service sector have explored vivid avenues of progress to a nation but at the flip side it rooted the use of non-renewable energy sources, global warming, greenhouse gas emissions and rising levels of waste which have pernicious effects to the generation coming next. The growing concerns for sustainable development, environmental performance, encompassing pollution control and stewardship of natural resources gave mass recognition to the concept of Corporate Social

INTRODUCTION

Responsibility (CSR). The integration of CSR principles in operating activities of business is very much imperative to ensure sustainable development of an economy. The potential benefits of CSR have generated interest of regulatory authorities, society, NGOs, employees, customers as well as international bodies to the issue. In financial sector several international initiatives like United Nations Environment Programme Finance Initiative, Global Reporting Initiative, Equator Principles and Collavecchio Declaration on Financial Institutions are underway to ensure the adoption of CSR practices in normal business operations. These initiatives have favourably tuned up developed countries to behave in a socially responsible manner. But in developing nations, there is a dearth of deliberate and effective actions to the current need. In addition to this a very limited research work has been done to investigate the CSR practices in developing and emerging nations. In fact the academic publication on this fiery issue is primarily western centric. Belal1 (2001) also noted that most of the CSR studies conducted so far have...
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