The paper's purpose is to highlight the corporate social responsibility (CSR) initiatives taken by the Indian Banking Industry, which can help them to enhance their overall…
Abstract
Purpose
The paper's purpose is to highlight the corporate social responsibility (CSR) initiatives taken by the Indian Banking Industry, which can help them to enhance their overall performance.
Design/methodology/approach
The research is based on the survey questionnaire, administered to 33 public‐private sector banks in Northern Haryana, including its capital Chandigarh, which has been analyzed with the help of descriptive statistics and factor analysis.
Findings
The findings suggest that banks have an objective view‐point about CSR activities. They are concentrating mainly on education, balanced growth (different strata of society), health, environmental marketing and customer satisfaction as their core CSR activities. The Indian banking industry is found to be adopting an integrated approach by combining CSR with the ultimate customer satisfaction. Irrespective of location, the nature of CSR activities undertaken by banks is found to be similar.
Research limitations/implications
The study was conducted on 33 banks. As the banks are undertaking CSR activities under the guidance of their respective head office, this perhaps generalizes its usefulness elsewhere.
Practical implications
As CSR improves the performance of banks in terms of goodwill, social image and expanding business, this may be a fruitful example for other industries as well.
Originality/value
This paper observes that the work done for society may pass on the advantages to the corporate world and initiatives in this area may enhance the value.
Details
Keywords
Mahabir Narwal and Rajinder Singh
The aim of this paper is to explore different areas of CSR covered by the companies in India and to have a comparative analysis of such practices of Indian companies and MNCs…
Abstract
Purpose
The aim of this paper is to explore different areas of CSR covered by the companies in India and to have a comparative analysis of such practices of Indian companies and MNCs working in India.
Design/methodology/approach
The sample for the present study consisted of 38 companies including 18 Indian companies and 20 MNCs of different countries working in India across various industries. The data thus generated was analyzed with the help of ANOVA and factor analysis.
Findings
The study finds that there is a little difference in CSR practices of Indian companies and MNCs and that is in terms of importance/focused areas of CSR. Companies are adopting CSR practices of environmental marketing, sustainable development, local community support, and transparency and accountability.
Originality/value
MNCs are adopting almost the same CSR practices as adopted by their counterpart Indian companies. Thus, MNCs are adhering to the prevailing business practices in host countries.