Vol. 3, Issue 1 (2018)
Corporate social responsibility: A case study of state bank of India array antenna
Author(s): Harsimran Singh
Abstract: Corporate Social Responsibility (CSR) is an important feature of every business organization nowadays. The concept of Corporate Social Responsibility (CSR) has come into the policy landscape due to the new Company Bill 2012, which envisages a statutory responsibility on the companies of spending two percent of their profit on the non-business socially relevant activities primarily aimed at the localities where they are undertaking their business. This paper focuses on the strategies adopted by SBI in CSR and its impact on business. This research paper deals with the concept of Corporate Social Responsibility in Banking Industry particularly the sense of responsibility of State Bank of India (SBI) towards the upliftment of common masses and protection of the environment and development of the nation. Banking as a sector has been unique and the interests of other stakeholders appear more important to it than in the case of non-banking and non-finance organizations. Regarding the banking sector Bhatt (2008) stated that banks do not exist vacuum. They make a large contribution to the country's GDP growth, meet the demand of the growing middle class, contribute to infrastructure spending, and reach out to the semi urban and rural areas. The Reserve Bank of India (RBI) (2011) on stressing the need for CSR, suggested the banks to pay special attention towards integration of social and environmental concerns in their business operations to achieve sustainable development. The Banking Sector performing their banking services more effectively in comparison with the past and started working towards social banking that is Corporate Social Responsibility.