An Outlook On Csr Practices In Private Insurance Companies In India

Abstract

Corporate Social Responsibility (CSR) is the commitment of companies to provide resources and support activities focused on enhancing economic and social development. It is the effort made by companies to improve the living conditions of the local area in which they operate and the society at large. The activities taken up as part of corporate social responsibility reflect the intent to create a positive impact on society without seeking any commensurate monetary benefits. CSR has been a long-standing commitment by the industries and forms enormous services. The part of industries Contribution to social sector development includes several pioneering interventions, and is implemented through the involvement of stakeholders within the Company, the Group and the broader community. Corporate Social Responsibility (CSR) refers to the initiatives an individual corporate entity undertakes as an extra effort for the welfare of the society, environment as a whole. This initiative is a kind of gratitude shown by the corporates towards the society from whom they earn wholesome profits. These CSR activities not only help in building a brand name but also makes one a good employer and an employee. Many kinds of CSR activities are undertaken by the corporate nowadays, which consists of bringing up a school, houses, old age home, orphanage, building up a hospital at a needy place, free medical camps, vocational courses for the generation of employment, distribution of free computers and other necessities to the underprivileged ones, heavy donations and charity to child care centres etc. Thus it could be regarded that there is no limit for CSR, an individual corporate has to choose a way to give back to society and being thankful to it.