Volume : III, Issue : III, March - 2014

Sustainability: A Positive Contribution by Indian Banking Sector

Dr Sangappa S Rampure

Abstract :

In current scenario, all over the world, there is an increasing awareness about Corporate Social Responsibility (CSR), Sustainable Development (SD) and Non–Financial Reporting (NFR). Consequently, there is an effort being made among all types of organizations to ensure that sustainable development is not lost sight of, in the pursuit of their respective goals – profit making, social service, philanthropy, etc. The contribution of financial institutions to sustainable development is paramount. The Reserve Bank of India feels that there is lack of awareness in India about this concept so in this context they felt the need for sustainable developmental and efforts by financial institutions in India assumes urgency and banks, in particular, can help contribute to this effort by playing an important role. RBI in its notification dated 20th November 2007 has advised banks to take up this issue in a serious manner in order to make an appropriate move towards helping the cause of Sustainable development. Banks are now–a–days doing their best in promoting sustainable development. They have taken up the challenge to be socially responsible by way of linking up with SHG’s for the welfare of weaker sections, providing no frill accounts etc. This paper emphasizes the concept of sustainability in India and analyses the Sustainable development initiatives taken up by the Indian banking sector.

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Article: Download PDF   DOI : 10.36106/ijsr  

Cite This Article:

Dr SANGAPPA S RAMPURE Sustainability: A Positive Contribution by Indian Banking Sector International Journal of Scientific Research, Vol.III, Issue.III March 2014

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