Lighting the Lamp of Education: Role of Indian Banking Sector towards the Corporate Social Responsibility in achieving Development Goals

Abstract

Education is the most powerful weapon which can be used to change the world and to remove the darkness from the world. This paper tries to focus on the new concept of Corporate Social Responsibility and how banks are adopting this practice in their working. In the recent time banking sector is one of the emerging sector which contributes a lot in the development of the nation by providing their support towards the education. Education helps in lighting the darkness of the society. Today banks are doing expenditure towards different programs related to education; Banks are distributing books free of cost to the needy people, establishing primary schools and giving scholarships to the children in the rural areas. Government is also supporting the importance of education by implementing the shaaksharta abhiyan. If we particularly talk about the ICICI bank, one of the biggest players of private sector banking, in the year 2012-2013 its expenditure was 66.2 million towards the elementary education for the benefit of society.  Banks are expending every year some amount for educating the people, if the people will be educated the nation will be developed.