Corporate Social Responsibility and Sustainability: Theoretical Approach

Abstract

Corporate social responsibility can be an obligation or practice adopted by the organization voluntarily. Companies operate their business in the society, using resources from there and for selling their products to the society; thus it becomes all the companies have a responsibility towards the society, or to make it a prosper by being socially responsible. The aim of the study is to discuss the conceptual approach of corporate social responsibility and to actually measure the CSR activities of the private sector banks of India. For this study, the secondary data taken from the annual reports of the private sector banks for the year 2017-18. It was found from the study that banking being an important part of the economy should focus on corporate responsibility practices in their day to day operations. Private sector banks in India are performing CSR activities in various areas such as; environment, women welfare, community welfare, farmers' welfare, education, and financial literacy.