Vol. 11(4), pp. 103-110, September 2023 , 2023.

ISSN: 2384-6151

https://doi.org/10.14662/ijebm2023120

 

 

Full Length Research

 

A Systematic Literature Review Approach to Understanding Stakeholders' Perceptions on CSR Practices in the Banking Sector

 

Anindita Saha

 

Assistant Professor, Department of Commerce, East Calcutta Girls’ College, Kolkata. E-mail: anindita1ecgc@gmail.com  

 

 

 

Accepted 18 September 2023

Abstract

 

Business social responsibility is everything an organisation does for society's benefit above and above what is required by law. However, on the flip side, industrialization and commercialization of the service sector have rooted the use of non-renewable energy sources, global warming, greenhouse gas emissions, and rising levels of waste that have detrimental effects on the next generation. The idea of Corporate Social Responsibility (CSR) has gained widespread acceptance as people's concerns about sustainable development, environmental performance, and the management of natural resources have grown. To ensure the sustainable growth of an economy, CSR concepts must be fully integrated into business operations. The banking industry is now more developed and strong than ever. Numerous non-governmental organisations exert pressure on banks to treat their stakeholders fairly. As a result, the idea of corporate social responsibility has emerged. The definition of corporate social responsibility (CSR) is "the economic, legal, ethical, and philanthropic expectations placed on organisations by society at a given point in time." The literature review makes it abundantly clear that while there are strict regulations relating to the compliance of corporate social responsibility for the corporate sector in India, particularly those for the listed companies, there is no such provision for the banks, which make up the majority of the Indian service sector. Their CSR is wholly voluntary on their end. Additionally, no specific empirical research is done on how stakeholders perceive the CSR practises used by banks, which is crucial given the government's and banks' initiatives for financial inclusion. As a result, the current study empirically explores what the chosen banks could have been able to accomplish if they had been designed to comply with the CSR requirements set forth in the Companies Act, 2013, as well as stakeholders' perceptions in this regard.

 

Keywords: Corporate Social Responsibility, Banking Sector, Stakeholders, Regulations.

 

Cite This Article As: Anindita, S. (2023). A Systematic Literature Review Approach to Understanding Stakeholders' Perceptions on CSR Practices in the Banking Sector. Inter. J. Econ. Bus. Manage. Vol. 11(4), pp. 103- 110, September 2023