Project Report

GUPTA's [Type the company name]

Submitted for degree of B.Com Hons.in Accounting & Finance 1+1+1 under the University of Calcutta

CORPORATE SOCIAL RESPONSIBILITY The corporate belief that a company needs to be responsible for its actions socially, ethically, and environmentally.

Submitted by Name of the Candidate: Registration No: Roll No.: Sec.: Name of the College:

Supervised by Name of the S pervisor:!R"#. Name of the College:

Month & Ye r o! Submission

Corporate Social Responsibility

Anne"ure # I Supervisor$s Certi!i% te

This is to certify that $r&%%%%% %.........st dent of &.Com '(ono rs) in *cco nting and #inance nder +niversity of Calc tta has ,or-ed nder my s pervision and g idance for his pro.ect ,or- and prepared a !ro.ect Report /ith the Title Corpor te So%i ' Responsibi'ity ( So%i ' responsibi'ity he'ps business be more %%ount b'e & Loy 'ty to St )eho'der

The !ro.ect report, ,hich he is s bmitting, is his gen ine and original ,or- to the best of my -no,ledge.

Si*n ture: %%%%%%%%%%% P' %e: 0ol-ata + te: N me: +esi*n tion: N me o! Co''e*e,

Corporate Social Responsibility

*nne1 re 2 33 Student$s +e%' r tion

3 hereby declare that the pro.ect ,or- ,ith the title Corpor te So%i ' Responsibi'ity ( So%i ' responsibi'ity he'ps business be more %%ount b'e & Loy 'ty To St )eho'der S bmitted by me for partial f lfillment of the degree of &.Com (ono rs in *cco nting 4 finance in & siness nder the +niversity of Calc tta in my original ,or- and has not been s bmitted earlier to any +niversity53nstit tion for f lfillment of re6 irement for any co rse of st dy. 3 also declare that no chapter of this man script in ,hole or in part has been incorporated in this report from any earlier ,or- done by other or by me. (o,ever, e1tracts of any literat re ,hich has been sed for this report has been d ly ac-no,ledged providing details of s ch literat re in the references.

Si*n ture: %%%%%%%%%. P' %e: 0ol-ata + te: N me: Address: Re*istr tion No.: Ro'' No&,

Corporate Social Responsibility

AC-NO.LE+/E, 3 o,e a great many than-s to a great many people ,ho *ssisted and s pported me d ring the preparation of this pro.ect. $y deepest than-s to S pervisors prof. %................. the g ide of the pro.ect for g iding and correcting the vario s doc ments of mine ,ith attention and care. (e has ta-en pain to go thro gh the pro.ect and ma-e necessary correction as and ,hen needed. 3 e1press my than-s to the !rincipal of, s pport. College for e1tending his

3 ,o ld also than- my 3nstit tion C*7C+TT* +N389RS3T: and my fac lty members ,itho t ,hom this pro.ect ,o ld have been a distant reality. 3 also e1tend my heartfelt than-s to my family and ,ell ,ishers.

Corporate Social Responsibility

T b'e o! Contents( Certi!i% te A%)no0'ed*ement Ch pter 1, Introdu%tion Ob4e%tive Observ tion Need !or CSR Limit tion Ch pter 5, Liter ture Revie0 CSR Methodo'o*y CSR Po'i%ies Ch pter 6, C se Study Ch pter 7, Comp rison & An 'ysis Ch pter 8, Con%'usion Bib'io*r phy

P *e No&

23(11 15(15 16( 17 18(18 13(13

19(1: 1;(52 51(57

58(5;

62(61

65(65 66(66

Corporate Social Responsibility

INTRODUCTION
The important of corporate social responsibility s rface in ;<=>s ,hen the activist movement began 6 estioning the sing lar economic ob.ective of being ma1imi?ation of profits. This has al,ays been a so rce of contention .#or e1ample ,ere tobacco companies ignoring health ris- associated ,ith nicotine and its addictive properties. @ Times have changed and managers m st reg larly ma-e decisions abo t iss es that have a dimension of social responsibility. 0arl $ar1, commenting on b siness ob.ectives said & siness is all green, only philosophy is grey. /hat he meant ,as that b siness is all abo t profit and comfort for its rich o,ners and discomforts for all other sections of the society ,ho are at the receiving end of the b siness. Aespite s ch socialist ideology been relegated to the bac-gro nd d e to fact that capitalism is being grad ally acceptedB b siness is still painted as essentially e1ploitative in nat re. & t one has to accept that m ch of the progress in the ,orld ,o ld not have been possible ,itho t entreprene rship and b siness ,hich involves ris-. Corporate Covernance is getting a foc sed attention partic larly after mar-et and p blic confidence became fragile after a series of high profile corporate fail res in ,hich the absence of effective governance ,as a ma.or factor. & siness ethics if properly nderstood is neither anti b siness nor anti capitalist. 3t is simply artic lating a cohesive set of val es to g ide decision ma-ing in r nning a b siness. Clobali?ation and liberali?ation of economic has bro ght corporate organi?ation to the center stage of social development. *s a res lt in the process of corporate decision ma-ing, managers contrib te, conscio sly or nconscio sly to the shaping of h man society .3t is not a choice bet,een profit and ethics, b t profit in an ethical manner. This mantra has lead to the evol tion of corporate Covernance. Corporate Covernance is getting attention for satisfying the
Corporate Social Responsibility 7

divergent interests of the sta-eholder of a b siness enterprise especially after the corporate scandals and loss of shareholder val e at 9nron and several other large companies in the recent past, ,hich foc sed more attention on the iss e of shareholder rights, calling for greater transparency and acco ntability and enhancing corporate reporting and disclos re. The scandals led to n mero s Corporate Governance reforms, incl ding passage of the Sarbanes2 "1ley *ct and the adoption of listing re6 irements by the Ne, :or- Stoc- 91change in the +nited States. "ther co ntries have introd ced similar legal re6 irements. *s a res lt, increasing n mber of companies are ,or-ing proactively to address iss es that concern shareholder and a range of other sta-eholder.

+E<INITION,

Cor orate governance is about romoting cor orate fairness! trans arency and accountability. 3t is concerned ,ith str ct re and process for decision ma-ing, acco ntability, control and behavior at the top level of organi?ations. 3t infl ences ho, the ob.ectives of organi?ations are set and achieved, ho, ris- is monitored and assessed and ho, performance is optimi?ed. The term corporate Covernance is not easy to define. The term governance relates to a process of decision ma-ing and implementing the decisions in the interest of all sta-eholders. 3t basically relates to enhancement of corporate performance and ens res proper acco ntability for management in the interest of all sta-eholder .3t is a system tho ght ,hich an organi?ation is g ide and directed. "n the basis of this definition, the core ob.ectives corporate Covernance are foc s, predictability, transparency, participate, acco ntability, efficiency 4 effectiveness and sta-eholder satisfaction
Corporate Social Responsibility 8

Corporate Covernance can also be defined as the formal system of accountability and control for ethical and socially res onsible organi"ational decisions and use of resources.# *cco ntability related to ho, ,ell the content of ,or-place decisions is aligned ,ith the organi?ationDs stated strategic direction. Control involves the process of organi?ational decisions and action. a diting and improving

Corporate governance arrangement are -ey determinants of an "rgani?ation relationship ,ith ,orld and encompass:

i. ii. iii. iv.

The po,er given to management. Control over managementDs se of po,er. $anagementDs acco ntability to sta-eholderB The formal and processes by ,hich sta-eholder infl ence management decision.

S$A%&H'()&*+

The traditional governance model positions management as acco ntable solely to investors. & t a gro,ing n mber of corporate accept that constit ents other than shareholder are affected by corporate activity, and that the corporate m st therefore be ans,erable to them. Coined only in the late part of the E>th cent ry, this ,ord sta-eholders describes s ch constit ents of an organi?ation in p rs it of its goals. *typical list of sta-eholder of a company ,o ld be 9mployees Trade +nions C stomers
9

Corporate Social Responsibility

Shareholders and investor S ppliers 7ocal comm nities Covernment Competitor.

C'*,'*A$& -'.&*/A/C&+ The trade of developing corporate governance g idelines and codes of best practice began in the early ;<<>s in +0 and Canada in response to problems in performance in some leading organi?ation s, pres mably d e to lac- of effective board oversight leading to press re from instit tional investor for change .The Cadb ry Report, ;<<E in +0 become a pioneering reference code for stocmar-ets. The &l e Ribbon Committee set p in the +.S in ;<<F by Ne, :orStoc- 91change and National *ssociation of Sec rities dealers st died the effectiveness of a dit committees and provided recommendations for improvement .3n response to these recommendations, Ne, :or- Stoc- 91change and National *ssociation of sec rities Aealers as ,ell as other e1change revised their listing standards relating to a dit committees .3n E>>E the sardines2 "1ley *ct, passed in response to ma.or corporate scandals, is considered to be one of the most significant. The "9CA principles ;<<< and E>>G reflect global consens s regarding the critical importance of corporate governance.

C'*,'*A$& -'.&*/A/C& 0&ASU*&S+ 3n general, corporate governance meas res incl de appointing non e1ec ting directors, placing constraints on management po,er and o,nership concentration, as ,ell as ens ring proper disclos re of financial information as e1ec tive compensation.
Corporate Social Responsibility 10

3ndian companies are re6 ired to comply ,ith cla se G< of the listing agreement primarily foc sing on follo,ing: &oard composition and proced re. * dit committee responsibilities S bsidiary companies Ris- management C9"5C#" certification of financial statements and internal controls. 7egal compliance

B&/&F1$S 'F -'') C'*,'*A$& -'.&*/A/C&+ i. !rotection of investor interests and strong capital mar-ets. ii. (igh mar-et price iii. $anaging the company in a transparent manner.

C'*,'*A$& S'C1A( *&S,'/S1B1(1$2+ Corporate social Responsibility 'CSR) is a concept that organi?ation , have an obligation to consider the interests of c stomers ,employees, shareholders, comm nities and ecological consideration in all aspects of their operation .This obligation is seen to e1tend beyond their stat tory obligation to comply ,ith legislation. CSR is closely lin-ed ,ith the principles of s stainable development, ,hich arg es that enterprises sho ld ma-e decisions based not only on financial factor.

Corporate Social Responsibility

11

CS* can mean different things to different eo le,( ;. #or an employee 3t can mean fair ,ages, no discrimination, acceptable ,or-ing conditions etc. E. #or a shareholder 3t can mean ma-ing responsible and transparent decisions regarding the se of capital. H. #or s ppliers. 3t can mean receiving payment on time. G. #or c stomers. 3t can mean delivery on time. I. #or local comm nities and a thorities 3t can mean ta-ing meas re to protect the environment from poll tion. =. #or non2governmental organi?ation. 3t can mean disclosing b siness practices and performance on iss es ranging from energy conservation.

Corporate Social Responsibility

12

OBJECTIVE OF CSR

The p rpose of this st dy is to e1plore perceptions of corporate social responsibility among 3ndian apparel &an-ing sectors. * 6 alitative methodology ,as sed to nderstand ,hat CSR means to these companies. &y e1ploring the meanings of CSR from the perspective of the 3ndian &an-ing Sectors, findings of this st dy contrib te to the overall nderstanding of CSR and its role in the global apparel s pply chain. To better nderstand CSR, fo r ob.ectives ,ere defined: ;. To e1amine c rrent CSR practices in 3ndian &an-ing operations. E. To investigate the opport nities and challenges posed by CSR practices for 3ndian &an-ing operations. H. To determine the e1tent to ,hich CSR is important to 3ndian apparel &an-ing. G. To investigate the reasons ,hy CSR may or may not be important to 3ndian &an-ing operations. To achieve the ob.ectives of the st dy, 3 sed vario s data collection techni6 es incl ding intervie,s, observation and secondary data. *s ,as briefly o tlined in the preceding section, 3ndia is emerging as one of the ma.or so rcing destinations for apparel ban-ing. This st dy therefore addresses the gaps ,ithin the literat re by e1ploring CSR from the 3ndian &a-ingDs point of vie,.

Corporate Social Responsibility

13

OBSERVATION OF CSR
The ideal observation of Corporate Social Responsibility are as follo, : $ost companies are not doing any CSR. $any companies are only ma-ing to-en gest res to,ards CSR in tangential ,ays s ch as donations to charitable tr sts or NC"s, sponsorship of events, etc.

$ost companies believe that charity and philanthropy e6 als to CSRB very fe, companies are sing their core competence to benefit the comm nity.

$ost companies se CSR as a mar-eting tool to f rther spread the ,ord abo t their b siness. #or instance, donation of a to-en amo nt to some ca se on p rchase of a partic lar prod ct. The fact that companies are hiring advertising agencies for their CSR f rther highlights this.

"nly #e, 3ndian companies S ch as St te B n) o! Indi p blish a Corporate S stainability Report to meas re and assess the impact of their b siness on the environment

8ery fe, companies openly state the processes follo,ed by them, the damage ca sed by these processes, and the steps ta-en to minimi?e this damage.

8ery fe, companies state ho, m ch they spend on CSR. There is no mention of the amo nt spent in any of their balance sheets or ann al reports. $ost companies . st list and describe their CSR activities and seem
Corporate Social Responsibility 14

to be spending minimal amo nts on CSR.

8ery fe, companies are engaged in CSR activities in the local comm nities ,here they are based.

8ery fe, companies have a clearly defined CSR philosophy. $ost implement their CSR in an ad2hoc manner, nconnected ,ith their b siness process.

$ost companies spread their CSR f nds thinly across many activities, th s some,here losing the p rpose of nderta-ing that activity.

$ost companies appear rel ctant to themselves f lfill their CSR nless it is mandatory by la,.

Cenerally spea-ing, most companies seem either na,are or donDt care abo t CSR. (o,ever, all companies can be considered to be an p,ard learning c rve ,ith respect to CSR and it is e1pected that the sit ation ,ill improve.

Corporate Social Responsibility

NEED FOR CSR

15

CSR is p rs ed by b sinesses to balance their economic, environmental and ob.ectives ,hile at the same time addressing sta-eholder e1pectations and enhancing shareholder val e. "ver the past decade, CSR has risen in global prominence and importance. $ore companies than ever before are engaged in serio s effort to define and integrate CSR into all aspects of their b siness, ,ith their e1periences being strengthened by a gro,ing body of evidence that CSR has a positive impact on b siness economic performance.

CORPORATE SOCIAL RESPONSSBILITY

ECONOM IC

LEG AL

ETHIC AL

DISCRETIONA RY

Corporate social responsibility ens re that corporate promote corporate citi?enship as part of their c lt re. Corporate social responsibility is abo t b sinesses transforming their role form merely selling prod cts and services.

Corporate Social Responsibility

LIMITATIONS

16

This st dy is based pon the literat re present 4 secondary data only, so the st dy in itself is confined p to a certain e1tent. A e to pa city of time and limits the CSR activities of companies are described in short and there is a scope of more detailed st dy. The comparison is based on the 6 alitative information. There is not m ch information available on the CSR e1pendit re of companies and its brea- p so the comparison is limited in its scope. There ,as no interaction ,ith any professional of the companies st died so st dy lac-s practical approach. The other limitation ,as that 3 co ld not get a chance to interact ,ith the candidates 3 choose for *modini a,ards d e to time constraints.

Corporate Social Responsibility

LITERATURE REVIEW

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Corporate Social Responsibility 'CSR) has permeated management practice and theory p to a point ,here CSR can be referred to as the latest management fad 'C they, 7anger, 4 $orsing, E>>=). (o,ever, so far CSR integration into b siness processes has been very neven. (oc-erts 'E>>F), for e1ample, finds that most firms concept ali?e CSR primarily as a tool to red ce ris-s and operational cost. "nly a minority of firms is act ally sing CSR as a means to drive innovation. 3n their st dy of ;I> Cerman and &ritish pharmace tical companies &l m20 sterer and ( ssain 'E>>;) similarly find that reg lation and technological progress are the t,o main drivers for s stainability innovations. They observed that the l re of emerging mar-et niches ,as no important motivator for the firms st died. This is nfort nate since bringing sta-eholders into the innovation process offers important opport nities to increase both the social and financial performance of firms. This report is part of the Nordic Centre on Corporate Responsibility 'NCCR) a collaborative research effort, bringing together CSR scholars from Aenmar-, S,eden, Nor,ay, #inland, and 3celand nder the sponsorship of the Aanish Commerce and Companies *gency 'ACC*) ,ith the goal of st dying CSR2driven innovation in the Nordic region. /ith this literat re revie, Copenhagen & siness School 'C&S) aims to provide the theoretical gro nding of the empirical ,or- to be nderta-en by the NCCR. The report falls into five parts: * brief revie, of -ey concepts in the CSR debate 'i.e. organi?ational legitimacy, moral choices, sta-eholder interaction, and s stainable development) * short disc ssion of the state of the art of innovation literat re 'i.e. incremental vs. radical innovationsB s staining vs. disr ptive innovationB ser2driven innovation, the entreprene rial process, the role of the entreprene r, instit tional entreprene rship) *n analysis of e1tant p blications on CSR and innovation 'corporate social innovation, base of the pyramid '&"!), social entreprene rship, and eco2innovations) *n analysis of social innovation on all fo r levels disc ssed in the first
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Corporate Social Responsibility

part. /e close by providing a list of global e1amples of social innovation brands.

* 7iterat re Revie, on Corporate Social Responsibility in the 3nnovation !rocess

CSR METHODOLOGY
Corporate Social Responsibility 19

To Identify To Analyze

To Evaluate & Improve

to Improve CSR
MET !D!"!#$

To Act To Plan

To Diagnose

TO I+ENTI<Y 3dentification of possible strategies5activities, related ,ith Sta-eholder identification.

CSR.

To ANALY=E &asic analysis: val es and mission, organi?ation, operations, prod cts5 services and sta-eholders. 9nvironment analysis: corporate commitments and sectors specificities TO +IA/NOSE Aesign and elaboration of diagnosis tools.
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Corporate Social Responsibility

Aiagnosis report

TO PLAN CSR Strategic !lan elaboration. Setting of CSR long term goals. !rioriti?ation of ob.ectives and activities. !ro.ect definition and planning.

TO ACT CSR pro.ect management s pport. $anagement systems. !rocesses. $anagement tools.

TO E>AL?ATE & IMPRO>E Res lts meas rement. !erformance eval ation. 3dentification of improvement areas.

Corporate Social Responsibility

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CSR POLICIES
Corporate social responsibility 'CSR) refers to operating a b siness in manner that acco nt for the social and environmental impact created by b siness. CSR means a commitment to developing policies that integrate responsible practices into daily b siness operation and to reporting on progress made to,ard implementing these practices. C'00'/ CS* ,'(1C1&S 1/C(U)&+3 *doption of internal control Commitment to diversity $anagement teams (igh performance ,or-places *doption of "peration policies *dvanced reso rce prod ctivity -EY +E>ELOPMENT 3ncreased sta-eholder *ctivism Transparency and Reporting Cro,ing investor !ress re *dvances in information technology Covernance *genda $ar-et2based 3ncentives Ret rn on 3nvestment Convergence of CSR
Corporate Social Responsibility 22

CSR MEC@ANISM, Some companies have established committees that are specifically for identifying and addressing social or environment iss es, or have broadened the scope of more traditional standing committees to incl de responsibility for CSR., ,hile others have strategically appointed director on the board based on the ni6 e e1pertise and e1perience they bring on specific iss es, ,ho then serve as advisors to other on the &oard.

Comp nies imp'ement CSR by puttin* in p' %e intern ' m n *ement systems th t *ener ''y promote,(

*dherence to labo r standard by them as ,ell their b siness partners. Respect for h man rights. !rotection of the local and global environment Red cing the negative impacts of operating in conflict ?one *voiding bribery and corr ption Cons mer protection Some )ey str te*ies %omp nies % n use 0hen imp'ement CSR po'i%ies,( $ission, 8ision and Statement C lt ral 8al es $anagement str ct re Strategic !lanning Ceneral *cco ntability 9mployee Recognition and Re,ards
Corporate Social Responsibility 23

&4$&*/A( S$A/)A*)S +3 The increasing interest in CSR has been accompanied by s bstantial gro,th in the n mber of e1ternal standards prod ced for b siness by government, non2governmental, advocacy and other of organi?ation. These vario s standards are designed to s pport, meas re, and assist in implementation and enhance acco ntability for corporate performance on CSR iss es. /hile many of the standards prod ced are based on a single iss e, other li-e social *cco ntability F>>> address a range of CSR iss es.

> rious per!orm n%e nd reportin* st nd rds h ve been introdu%ed,( The /'ob ' Reportin* Initi tive AA1222 So%i ' A%%ount bi'ity :222 ?nited N tions /'ob ' %omp %t The Cru" Round T b'eACRTB The /'ob ' Su''iv n prin%ip'es APE B&/&F1$S 'F C'*,'*A$& S'C1A( *&S,'/S1B1(1$2 T@E IRON LO. O< RESPONSIBILITY,( Society give b siness its license to e1it and this can be amended or revo-ed at any time if it fails to live p to society e1pectations. AC@IE>EMENT O< LON/ TERM OBCECTI>ES,2 & sinesses have been delegate economic po,er and have access to prod ctive reso rces of a comm nity.
Corporate Social Responsibility 24

 ENC@ANCE+ BRAN+ IMA/E AN+ REP?TATION,( C stomers are dra,n to brand and companies ,ith good rep tation. * company considered socially responsible can benefit both from its enhanced rep tation ,ith the p blic as ,ell as its rep tation ,ithin the b siness comm nity. C@EC-S /O>ERNMENT RE/?LATIONDCONROLS, Reg lation and control are costly to b siness, both in terms of money band restrict its fle1ibility of decision ma-ing as fail re of b sinessmen to ass me social responsibilities invites government to intervene and reg late. INCREASE+ SALES AN+ C?STOMER LOYALTY, ( A n mber of st dies have s ggested a large and gro,ing mar-et for the prod ct and services of companies perceived to be social responsible. INCREASE+ ABILITY EMPLOYEES,( TO ATTRACT AN+ RETAIN

Companies perceived to have strong CSR commitments often find it easier to recr it and retain employees, res lting in t rnover and associated recr itment and training costs.

Corporate Social Responsibility

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CASE STUDY: CSR in SBI

Servin* the Community Every0here, Corporate Social Responsibility has al,ays been a part of the State &an- of 3ndia covering vario s social, environmental and ,elfare activities. 3n S&3, ,e believe that ,e o,e a solemn d ty to the less fort nate and nderprivileged members of the society to ma-e a s stainable social change in their development. The 91ec tive Committee of the Central &oard has approved in * g st E>;; a comprehensive policy for Corporate Social Responsibility. <o%us re s !or our CSR %tivities re, S pporting 9d cation S pporting (ealthcare S pporting Cirl Children 4 Child development. *ssistance to poor 4 nderprivileged. 9nvironment protection. Clean 9nergy. 9ntreprene r development programme. (elp in National calamities.

Supportin* Edu% tion, To s pport school ed cation and to bring happiness to millions of school
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Corporate Social Responsibility

children specially the nderprivileged children, &an- provided ;,E>,>>> electric fans to ;E,>>> schools across 3ndia.

A ring the year, the &an- also provided large n mber of b ses5vans to needy schools. !reference has been given to schools for physically5mentally challenged children, and children belonging to economically ,ea-er sections etc. /e also assisted them ,ith comp ters, f rnit re and other accessories. To transform and pgrade the efficacy of ed cation in schools r n by $ nicipal Corporation of Creater $ mbai, ,e are e1tending f nding s pport.

Supportin* @e 'th% re, The foc s of the &an- has been to help provide the basic infrastr ct re s pport to ameliorate the condition of the common man. *mb lances, medical vans to enable medical camps in remote areas and mobile blood collection vans and host of other medical e6 ipments ,ere donated to needy organi?ations5hospitals by o r ;G Circles for speedy transportation of critical patients as ,ell as to provide medical services to the remotest parts of the co ntry.

The &an- has donated <I s ch vehicles ,ith an e1pendit re of Rs. J.G> crores d ring the year. $edical e6 ipments costing Rs. =.;> crores ,ere donated to needy hospitals5healthcare instit tions.

(ealthcare to Children2 !roviding safe drin-ing ,ater has al,ays been a challenge for schools. Recently ,e too- p the pro.ect, and installed ;H,=>> ,ater p rifiers in as many schools, ens ring clean 4 safe drin-ing ,ater to millions of children in schools.

Responsibi'ity to the N tion,

Corporate Social Responsibility 27

 /ir' Chi'd doption( " r branches have adopted girl children from nderprivileged class and assist them financially for their ed cation. &anhas adopted ;J=EJ girl children.

Assist n%e !or N tur ' C ' mities, S&3 has al,ays been at forefront to help the States affected by nat ral calamities. A ring the c rrent fiscal, the &an- has lent its helping hand to the follo,ing states, ,ith donations of Rs I.I> Crores to the Chief $inisterKs Relief # nd of the respective states to provide help to the people affected by nat ral calamities.

" r branches across the co ntry made special drives to plant fr it bearing trees to improve green coverage. #r its ,ill also help birds.

" r offices5branches nderta-e vario s other social ,elfare activities li-e blood donation camps, medical camps, tree plantations, ad lt literacy classes, imparting s-ills to local comm nity.

/reen B n)in*, /e effectively propagate and implement s stainable sage of reso rces incl ding rene,able energy. *dopted energy efficient meas res. " r &an- is the largest deployer of solar *T$s in the /orld. Saving more than E>>> tons of C"E per year. !aperless &an-ing transaction2 Creen Channel &an-ing. The &an- has installed ,indmills ,ith capacity of ;I $/ in three states for internal energy needs. The &an- e1tends pro.ect loans on concessionary interest rates to enco rage c stomers to red ce Creen (o se gases by adopting efficient man fact ring practices.
Corporate Social Responsibility 28

Intern ' CSR, /e are an e6 al opport nity organi?ation. /e provide best of the facilities and healthcare to o r employees. * large n mber of 9mployee /elfare schemes are in place as motivational incentive. 91tensive in2ho se training facilities. $otivational incentives, #reedom of *ssociation.

RESEARC@ & +E>ELOPMENT <?N+, The &an- s pports research ,or- relevant broadly to the activities of the &anfrom its Research 4 Aevelopment # nd. The &an- ma-es an ann al contrib tion of C&! ;>>,>>> to,ards a Chair set p by the &an- .ointly ,ith R&3 at the *sia Research Centre at 7ondon School of 9conomics.

SBI Chi'drenEs .e'! re <und, The &an- constit ted S&3 ChildrenKs /elfare # nd as a Tr st in ;<FH. The Corp s of the # nd is made p of contrib tions by staff members and matching contrib tion provided by the &an-. Crants are e1tended to instit tions engaged in the ,elfare of nderprivileged5do,ntrodden children li-e orphans, destit te, challenged and deprived, etc. A ring the #: E>;;2;E, F pro.ects ,ere assisted ,ith Rs. J.E= lacs.
Corporate Social Responsibility 29

SBI Youth !or Indi , S&3 :o th for 3ndia #ello,ship2 &an- has granted fello,ship to ed cated yo th and deployed them to r ral areas to nderta-e innovative pro.ects to address local problems of r ral poor.

This to ched pon many pro.ects li-e R ral 9mployment C arantee Schemes, 38RS helpline for farmers 4 fishermen, career g idance, 9nhancing mar-etability of farm prod ce, 9d cation of r ral yo th thro gh 3CT, 9nvironment protection, and many others.

The !o''o0in* re some o! the Comp ny durin* 5211(15,

0 rds D re%o*nitions re%eived by the

/inner of KNAT8 !rofit & siness 7eadership *,ardK t,ice in a ro,, E>;; and E>;>.

*,arded the $ost Tr sted !rivate 7ife 3ns rance &rand E>;; by The 9conomic Times, &rand 96 ity $ost Tr sted &rand S rvey.

/on 3$C Ram-rishna &a.a. National L ality *,ards E>;; 2 Certificate of $erit.

/inner of K3C*3 *,ard for 91cellence in #inancial ReportingK for #: ;> 2 ;;.

/inner of K&est !resented *cco nts *,ardK by S*#*.

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S&3 7ife leads globally at $illion Aollar Ro nd Table '$ART) E>;;.

COMPARISION & ANALYSIS

3n S&3, ,e believe that ,e o,e a solemn d ty to the less fort nate and nderprivileged members of the society to ma-e a s stainable social change in their development. The 91ec tive Committee of the Central &oard has approved in * g st E>;E a comprehensive policy for Corporate Social Responsibility The year E>;;2;E sa, the CSR activities of the &an- scaling ne, heights of achievement and glory ,ith o r &an- ,inning the prestigio s Colden !eacoc*,ard for Corporate Social Responsibility in E>;E. *s per the Reserve &an- of 3ndia instr ctions, o r &an- earmar-s ;M of previo s yearKs net profit, as CSR Spend b dget for the year. 3n terms of CSR policy of the &an-, CSR donations are given to only those organi?ations that en.oy 3T e1emption nder Sec F>. This ens res that the &an-Ks s pport is e1tended to deserving cases only.

The comparative chart of CSR spends for the last three years is as nder:
Rs !n "#o#es

522;(12 A%tu ' N tion ' +on tions I.;I

5212(11 A%tu ' E.>>

5211(15 A%tu ' I.I>

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ATo provide su%%or to vi%tims o! n tur ' % ' mitiesB Norm ' +on tions & other dire%t %tivities TOTAL CSR SPEN+ 1;&95 57&77 91&1: ;G.IJ EE.GG =I.=F

#or the first time in the last decade, the b dget for CSR spend 'normal donations and other direct activities) has been s rpassed even tho gh the allocation ,as m ch higher than the previo s years

Assist n%e !or N tur ' C ' mities: S&3 has al,ays been at forefront to help the States affected by nat ral calamities. A ring the c rrent fiscal, the &an- has lent its helping hand to the follo,ing states, ,ith donations of Rs I.I> Crores to the Chief $inisterKs Relief # nd of the respective states to provide help to the people affected by nat ral calamities. STATE CALAMITY AMO?NT ARS& IN CRORESB "A3S(* !+A+C(9RR: S3003$ T*$37 N*A+ /9ST &9NC*7 T"T*7 #7""A C:C7"N9 9*RT(L+*09 C:C7"N9 9*RT(L+*09 ;.>> >.I> ;.>> E.>> ;.>> 8&82

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CONCLUSION
Corporate rep tation is a companyKs most important asset. Companies recogni?e corporate social responsibility 'CSR) to help b siness become more acco ntable and transparent to their sta-eholders and to the ,orld at large. The concept of corporate social responsibility has gained prominence from all aven es. "rgani?ations m st reali?e that government alone ,ill not be able to get s ccess in its endeavor to plift the do,ntrodden of society. The present societal mar-eting concept of companies is constantly evolving and has given rise to a ne, concept2Corporate Social Responsibility. $any of the leading corporations across the ,orld had reali?ed the importance of being associated ,ith socially relevant ca ses as a means of promoting their brands. 3t stems from the desire to do ,ell and get self2satisfaction in ret rn as ,ell as societal obligation of b siness. The 3ndian corporate sector spent +SN =.H; billion on social e1pendit re d ring E>>J2>F, p from +SN H.=F billion spent d ring the previo s fiscal. The Steel * thority of 3ndia 7td 'S*37), the co ntryKs largest steel company, spent +SN E;.>I million on CSR last yearB Tata Steel 7td, ',hich r ns a FI>2bed hospital and r ral pro.ects in F>> villages aro nd Oamshedp r), spends abo t +SN H;.IF million as part of its ann al reven e e1pendit re. No, there are plans to also introd ce CSR in the small and medi m enterprises 'S$9) sector to increase its reach in remote areas.

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BIBLIOGRAPHY
.EBSITES ,,,.globaliss es.org ,,,.sbi.co.in ,,,.csr.com ,,,.indiacsr.in ,,,.,i-ipedia.com

RE<ERENCES ;. Corporate Social Responsibility, /i-ipedia, The #ree 9ncyclopedia, O ly H> 'E>>=). E. Nancy R. 7oc-,ood 'E>>G Aecember), Corporate Social Responsibility: (RDs 7eadership Role, S!(R. H. *cco ntability and & siness for Social Responsibility ',ith &rody /eiser & rns), 'E>>H. O ne), & siness and economic development: The impact of corporate responsibility standards and practices. G. & r-e, 9. $. ';<<<), Corporate Comm nity Relations: The !rinciple of the Neighbor of Choice, /estport, CT: L or m &oo-s.

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