Exploring the Corporate Social Responsibility (CSR) Initiatives of Commercial Banks in Haryana

AUTHOR

Mangat Ram

Department of Commerce, JVWU, Jaipur

ABSTRACT  

This research paper explores the Corporate Social Responsibility (CSR) initiatives of commercial banks in Haryana, India, focusing on their scope, implementation, and impact on local communities. The study examines various CSR activities, such as education, healthcare, financial inclusion, and environmental sustainability, implemented by commercial banks in the state. The paper also analyzes how these initiatives align with India’s regulatory framework under the Companies Act 2013, which mandates companies to allocate a portion of their profits to CSR activities. Using a mixed-methods approach, including interviews with CSR managers and analysis of CSR reports, the study evaluates how these initiatives contribute to social well-being and corporate growth. Findings suggest that banks in Haryana have positively impacted rural communities through initiatives like scholarships, medical camps, renewable energy projects, and financial literacy programs. However, challenges such as limited scope, lack of transparency, and misalignment with local needs hinder the effectiveness of CSR efforts. The paper recommends enhancing transparency, broadening the scope of initiatives, and aligning efforts with community-specific needs for better long-term sustainability. This study provides valuable insights into CSR practices in Haryana’s banking sector and offers recommendations to improve the alignment of corporate responsibility with community development goals, contributing to the body of knowledge on CSR in banking.

Keywords: CSR, Haryana, Commercial Banks