Corporate Social Responsibilities (CSR) in Commercial Bank
A commercial bank is a financial bank which takes money from the people as a deposit and gives money to the other people as a loan. This bank gives minimum interest to depositors and demand maximum interest from the borrower.
Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship or sustainable responsible business/ Responsible Business) is a form of corporate self-regulation integrated into a business model. CSR policy functions as a self-regulatory mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. With some models, a firm’s implementation of CSR goes beyond compliance and engages in “actions that appear to further some social good, beyond the interests of the firm and that which is required by law.” CSR aims to embrace responsibility for corporate actions and to encourage a positive impact on the environment and stakeholders including consumers, employees, investors, communities, and others. Commercial Bank sponsors a wide range of events with a particular focus on championing human endeavor across sports, education, culture, and arts. To engage in CSR means that, in the usual path of business, a Bank or financial institution is working in ways that enhance society and the surroundings, instead of contributing unenthusiastically to it.
The term “corporate social responsibility” became popular in the 1960s and has remained a term used indiscriminately by many to cover legal and moral responsibility more narrowly construed. Proponents argue that corporations increase long term profits by operating with a CSR perspective, while critics argue that CSR distracts from the business economic role. A 2000 study compared existing econometric studies of the relationship between social and financial performance, concluding that the contradictory results of previous studies reporting positive, negative, and neutral financial impact, were due to flawed empirical analysis and claimed when the study is properly specified, CSR has a neutral impact on financial outcomes.