An Examination Of The Implication Of Corporate Social Responsibility Measures In Chosen Indian Public Sector Banks Amidst The Covid-19 Pandemic

Abstract

Purpose: This paper explores the evolution of Corporate Social Responsibility (CSR) and focuses on how banks have expanded their CSR activities beyond traditional banking roles, particularly during the pandemic. It highlights the critical role CSR plays in addressing challenges and fostering a socially responsible corporate landscape. With a special emphasis on the diverse aspects of CSR practices, this paper will explore how company responsibilities and social obligations have advanced over time. It includes the compiled report of CSR expenditures of selected public sector banks in India. And encompasses the challenges faced by the banking sector and the significance of CSR in addressing them. The research also throws light on potential criticisms or shortcomings in the selected banks' approaches. Lastly, this paper will talk about how some banks have come forward with diverse aspects of social obligation and shored up an important position during the pandemic. Design/Methodology/Approach: This paper is conceptually written, involving a cross-sectional study entailing the qualitative analysis of various CSR activities taken up by banks in India during the pandemic. To analyze the spending and CSR activities, data was collected from the bank's annual reports and their websites Findings: This article discusses how Corporate Social Responsibility (CSR) is transforming into a "self-regulating business approach." considering both performance and the influence of stakeholders. This suggests that a certain perception of social responsibility largely stems from an organization's interactions with its stakeholders and the public. As for the pandemic, CSR initiatives have shifted their focus towards combating COVID-19, with the potential for indirect benefits to the organization.