CSR and Performance: The Story of Banks in India

Abstract

There has been an upsurge of socially responsible activities in the Indian corporate sector in the recent past. This article is an endeavor to map the corporate social responsibility (CSR) practices of major players in the Indian banking sector and to find out the impact of such practices on their performance and image. Based on several published records of CSR activities of major Indian banks in the last few years, the impact of such practices on the performance and image of such banks have been analyzed. The findings suggest that banks in India have increased their CSR activities, which also have a positive impact on performance of the business, apart from improving their image and goodwill. This is reflective of the fact that work done for society may pass on the advantages to the corporate sector and enhance their value. This also sets a good example for other service sectors as well.