Kanchan, Rakesh Choudhary
The Indian banking industry plays an important role in promoting economic growth and development of the country. India is the first country to quantify CSR and make it mandatory as per Companies Act 2013. Therefore, the Reserve Bank of India has made it mandatory for every commercial bank operating in India to contribute to CSR. Corporate Social Responsibility (CSR) refers to the practice of integrating social and environmental concerns into business operations and interactions with stakeholders. CSR in Indian banking sector is aimed at improving financial inclusion, and providing financial services to the untapped areas of the country. The socio-economic development of the country can be improved by focusing on activities like poverty eradication, health and medical care, rural development, financial literacy, education and environment protection. CSR in the Indian banking industry is not just about compliance; many banks view it as an integral part of their corporate identity and a way to contribute positively to society while enhancing their brand image. The new Company Act of 2013 mandates companies to invest at least 2% of the average of their three preceding financial years’ net profit into CSR activities. ThisstudyhighlightsthemainCSRactivitiesdonebyAU Small Finance Bank.Forthesametheannualreportsof five years since 2018 to 2022 has been analysed. A questionnaire has also been designed to get someknowledge about what the employees think about the CSR programmes run by the AU Small Finance Bank. This study revealsthatthemainfocusofAU’sCSRinvestmentisontheskilldevelopmentandlivelihoodcreation.Apartfrom this, AU Small Finance Bank, is doing a great job to facilitate the weaker sections of the society by investing in education, health care and sanitation programs, sports activities and other fruitful actions.Thisstudyalsorevealsthatthe employees think that AU Small Finance Bank is quite serious about the sustainable development of the society.
CSR, Corporate Sustainability, AU Small Finance Bank, Sustainable Development