Activities in India Essay Example for Free

Activities in India EssayThe development process of CSR scheme in Indian Banking Sector potentiometer be divided into 4 phases. During 1920s the CSR activities in fiscal sectors ar mainly motivated by charity and philanthropy which does not have a dismiss planning or message towards society. Between 1914 and 1960 the fiscal sectors become more(prenominal) concerned over honourable responsibilities and social development to become a good corporate citizen.During early stage of 1970s the financial sectors become more concern over the legal responsibilities by following rules and regulations while carrying out origin activities. After 1980 the Indian financial organisations combine CSR into a understandable and sustainable business Strategy. Analysis of CSR Activities of Indian banking companies At present banking sectors are under immense pressure from investors, share holders, NGOs to bring to pass the business in more on ethical and responsible way(Bhattacharya 2004).But in Indian Banking sectors CSR activities are considered to be on the lower side while comparing other countries and the government has not choose any rules and regulations for carry out CSR. The Reserve Bank of India who controls all banks of India sense that the CSR activities in both humanity sector and private sector banking are lacking while compare to other countries. In ordering to improve the CSR activities in Banking Sectors the RBI issued a notification on 2007, advising all banks to improve the CSR activities by dower the intellect of sustainable development with full cooperation from boards.The RBI as well as advised all banks to combine the environmental and social concerns in their business activities which will have a positive effect on mail service holders and society Even though lot of Indian banks are still not considered CSR seriously, Some humanity and private banks like SBI, SIDBI, Punjab National Bank, ICICI Bank, HDFC Bank, Union Banks, etc. are doing some good initiative as a part of CSR . While carrying out CSR activities the key areas Indian banking sectors considered are environment and community. Some of the young CSR initiatives provided by different banks in India are listed below.Environment To make an appeal in environmental and ecologic interest, energy efficient buildings are provided by Reserve Bank of India besides to decrease the substance which cause harm to oz champion layer some of the air condition plants are replaced by RBI in different banks. microscopic Scale Industries which are involved in energy saving projects are provided by Small Industries Bank In India(SIDBI) which will encourage them to perform well. State Bank of India(SBI) is providing an innovative approach towards CSR by introducing Green Banking.The kibibyte banking is concerned with sustainable and ethical banking. The main purpose of green banking is to increase the sensory faculty of environmental friendly programme and to reduce the c arbon foot print which effects the environment negatively. The green channel counter method has been adopted by SBI to change their branches to paperless which is a good polity against deforestation. To rule out pollution and to increase recycling procedure, SBI has Started Panet Earth which helps the society in reducing the waste and to preserve wet and energy.Community As child labour is one of the major problems faced by India, the children below 14 years who are from low income group are provided with free education by ICICI bank. This bank also provides several(a) awareness programs on HIV/AIDS. With the Support of NGOs the Punjab national banks are implementing various technical programmes for better education to people from rural areas and also they are providing micro credit policy which helps the society in increasing income level and reducing unemployment.To help in increasing local economy, more than hundred villages are adopted by Bank of Baroda (BOB). Some of the sm all commercial banks are also undertaking various CSR activities like blood donation, health camps, welfare activities of students, self employment opportunities, etc. The adjoin of CSR on Indian Banking Sector According to research conducted by Pava and Krauz(1996)there is positive relationship between CSR and monetary performance of the organisation.On the other side some researches from Hopkin and cove(2003)proved that there is chance of negative impact on share price and give away image on organisations as a result of socially unequivocal practices and bad CSR strategies. According to the survey conducted by Bihar and Pradhen (2011) CSR has positive impact on performance and image of the bank. For example, ICICI one of the leading Indian Commercial Banks was able to improve the brand image and profit of the business with hunky-dory CSR strategies.So the CSR activities will help to improve the performance of the bank by giving the banks good brand image. By less consumption of office stationeries, energy and water operational costs of the organisations can be reduced, helps to maintain good relationship with the stakeholders, by adopting eco friendly products health hazards of the employees can be reduced. Thus it can be said that the CSR activities help the banking sector to perform the business with Legal and Ethical responsibilities there by making the organisation a good corporate citizen.