Vol. 2, Issue 10, Part C (2016)

Abstract
Corporate Social responsibility is the responsibility of an organization to take appropriate decision and to take actions that will enhance the welfare and interest of society as well as the organizations. In the recent years Corporate Social Responsibility (CSR) has witnessed tremendous increase in awareness and control in the global arena. With the increasing need for economic development across the globe, there is demand for Financial Institutions to take central role in the efforts to eliminate poverty, achieve equitable and accountable systems of governance and ensure environmental security. In this regard, actions taken by corporate houses and regulatory authorities operating in developed nations are quite satisfactory. However in developing nations the situation of CSR activities by financial institutions is not so flourishing. Today the common goal of the domestic and international business community is to bring forth wealth in a socially and environmentally responsible way. When it comes to social responsibility of Pharma companies, the Pharma companies need to move beyond a narrow definition of CSR and look at some of the ways to alleviate poverty and Rural Development. This article aims at providing a framework to assess corporate social responsibility with the pharmaceutical sector in India.