Corporate Social Responsibility In The Indian Banking Sector: A Case Study On HDFC Bank.

Corporate Social Responsibility (CSR) is the need of the hour. By engaging in CSR activities, the companies mainly aim to give back to the society in which they operate. Modern businesses are currently shifting their focus from profit maximization to sustainable development. Only the companies that are ready to work toward making public life easier can sustain in today's competitive market. Along with that, contributing effectively to CSR helps companies to have a better brand image, stakeholder satisfaction, employee retention, new opportunities, and better access to capital. The banking industry being the lifeblood of the Indian economy and a key service sector contributes the highest percentage of CSR Funds in India when compared with the other sectors such as Oil Drilling Lubricants and Petrochemical, miscellaneous, metals, mining, minerals, and computer software and IT. HDFC Bank being one of the largest private sector banks in India constantly contributes a large sum of amount on CSR to transform public lives. Their major CSR activities are rural development, Skill Development and Livelihood Enhancement, Promotion of Education, Healthcare and Hygiene, and Financial Literacy and Inclusion. The data for this study is collected through secondary sources such as CSR Reports, websites, and papers. The data have been collected and analyzed over three years starting from the financial year 2019-20 to 2021-22. In addition, the study uses resource dependence theory, and corporate citizenship theory to best understand the concept. The importance of CSR in the banking sector and the popularity of HDFC Bank in the Indian market as a key player makes this study relevant. [ABSTRACT FROM AUTHOR]