The purpose of this paper is to study the various aspects of Corporate Social Responsibility, emphasising on how corporate social responsibility have evolved over the years. The paper also tries to find how the banks have come forward and have gone beyond banking with various corporate social responsibility activities which has played a crucial role in the time of pandemic.
Design/Methodology/Approach: This paper is conceptual in nature, which involves a cross sectional study involving the qualitative analysis of the CSR activities taken up by banks in India during pandemic.
Findings: This paper presents that CSR is evolving as a “self-regulating business model” considering performance along with the stakeholders’ pressure, which has implied that the procedures of interaction of an organization with its stakeholders and public at large, creates a perception of being socially responsible. During the time of pandemic, the CSR activities have changed focus which has entirely shifted to activities to help fight against the coronavirus disease which would reap indirect benefits from the organization.
Practical implications: The perception on CSR developed in this paper would help organizations to design CSR programs based on its focus, direction, proactiveness, activity nature, characteristics, and benefits. It would also help to understand what had been the opportunities and lacking in the times of pandemic with respect to CSR.
Originality/value: In the past some scholars had attempted to define and explain the various aspects of CSR. The research paper attempts to provide a more holistic and yet comprehensive theoretical perspective on CSR initiatives with respect to banks going beyond their core business and extending themselves into CSR during Covid-19. It can help CSR managers of organizations to design their CSR initiatives and manage the CSR initiatives in a more effective and efficient manner.