Recent Developments In CSR Activities By Banking Industry In The UK

N1634 Financial Institutions and Markets

Research Questions

In present time, the model of corporate social responsibility is spreading very quickly everywhere and in all sectors involving banking sector. The corporate social responsibility differs from business to business. The corporate social responsibility may make many benefits for banking sector. The essential thing is that how to increase reputation of bank and enhance the commercial progress. The reason is that image of banks is necessary to keep their old clients and attract more clients. It improves the economic status of bank. In this way, the banks can achieve the advantages with the help of good risk management, integrity of staff and good reputation by paying the attention to the social responsibilities. All banks know that profits are depend upon their customers. They are supposed to become the social bank which complete the social responsibilities.

In this way, corporate social responsibility in the banks has made high demand. The banks may sanction the educational program, social program, ethnic program and the environmental program. They may also take the step for health incentives. The banks apply the sponsorship steps for the helpless groups or charitable non-profit corporations. This research report states the problem of CSR barrier, bank’s corporate social responsibility models and various positive elements of banks.

For achieving research objects, following research objectives will attained:

• What is meaning and concept of CSR?
• What are impacts of corporate social responsibility on the banks?
• What are perceptions towards the CSR?
• What are the barriers for the banks to undertake CSR?
• What are recent developments in CSR in United Kingdom?

It is very essential to evaluate real objects of the study because research objects help to complete the research study in proper manner (Aydogdu and Asikgil, 2011). The main object of this research is to evaluate the recent developments in corporate social responsibility in United Kingdom. Some objects of research are discussed as follows-   

• To understand the concept of CSR.
• To determine impacts of corporate social responsibility on banks.
• To examine perceptions towards the corporate social responsibility.
• For better understanding of barriers for banks to undertake corporate social responsibility.
• To evaluate the current developments in corporate social responsibility activities by banks in United Kingdom (Wilson, 2014).

The research is advantageous for the researchers to have good understanding about meaning and concept of corporate social responsibility. It may good for all banks to understand the corporate social responsibility and its impacts (Aulia, Djakman and Lusia, 2018). The research studyis also important for the banking sector to know the recent developments in the corporate social responsibility in United Kingdom. It may be also effective for banking sectors to understand the different barriers for the banks to undertake corporate social responsibility (Babbie, 2016).

At the time of conducting research, the researcher can face many difficulties, problems, or issues related to the research to complete the research study. These challenges, issues, or problems can adversely affect the investigation study. These challenges, issues, or the problems may affect the outcomes of the research. As per this, time, money and facts access are some significant limitations that can bound the research study of researcher to produce valid and consistent conclusions. According to this research process, less time to make research can adversely affect the research study in terms of gathering a sufficient amount of information from the various resources related to the problem of research. At the similar time, money restraint can influence the researcher to conduct a proper research in the field. The researcher cannot be able to access the inclusive range of data resources from various geographical places to gather research specific figures and information. It can also limit the consistency and genuineness of the research among the major shareholders (Lee and Riffe, 2017).

Research Objectives

The introduction chapter is most important chapter of this research study. With the help of this, the researcher may establish theoretical knowledge regarding issue of research in more important ways. The introduction also helps the researcher to make study of various secondary resources. These secondary resources include books and journals related to the recent development in corporate social responsibility activity in banking sector. With the help of introductory chapter, the researcher may recognise the elements, which influence the CSR activities in banking sector. Further, the introduction chapter also makes able the researcher to assess the impacts of the development in CSR activities in banking sector (Karim, et al 2015).

Since 1950s, many experts, government system, foreign institutions and various firms have stated the problem of corporate social responsibility. The term of corporate social responsibility is difficult and not certain term. The word corporate social responsibility is not appeared initially in book namely Social Responsibilities of the businessmen. According to Bowen (1953), the corporate social responsibility is the duty or obligation of the businessman to follow those policies, to create those policies or to monitor those lines of actions which are needed in respect of objects and value of communities or groups or the societies (Visser and Tolhurst, 2017).

On the other hand, According to Friedman (1970), the nature of CSR activity is subject to conflict. According to the CSR concept, involving in the corporate social responsibility was a difficulty or clashes between interest of manager and interest of shareholders. As per the theory of stakeholders, it was stated by Michael Hopkins (2003) that the corporate social responsibility was concerned with handling the internal stakeholders and external stakeholders of an organization or firm in the communally responsible manner. Further, the major objective of corporate social responsibility is to set high living standards for the stakeholders whereas maintaining the productivity and success of an organization. By accepting the corporate social responsibility-4 part definition of Carroll (1979), Frank Tuzzolino and Barry Armandi (1981) form a corporate social responsibility’s requirement hierarchy framework patterned after Maslow’s (1954) require hierarchy. The authors stated how a business have physical requirements, security, honor and self-actualization wants (Ruiz, Garcia and Revilla, 2016).

Furthermore, it was concluded by 4 dimensional model of Carroll, Alexander Dahlsrud (2006), there are five dimensions of CSR, the stakeholder dimension, the social dimension, the economic dimensions, the environment dimension, and the voluntariness dimension. The environmental dimension got an importantly lower dimension in comparison of others dimensions. The social dimension, economic dimension and stakeholder dimension got big attention in descending order. Some essential subjects may state the corporate social responsibility and the problems such as fair operating practices, an environment, and problems related to customers or clients, participation of various communities and establishment, organisational governance and the human rights. The more important thing is to identify that how corporate social responsibility is socially made in the particular context. The final object of corporate social responsibility is to make a dynamic, reasonable economy on the basis of knowledge. It is required by the firm to bear in mind that all the people involving workers, dealers, consumers, stakeholders and community (McCambridge, Hawkins and Holden, 2014).

Research Rationale

The attitude of bank for the present problems of society regarding the culture and environment become more identified by the clients of bank. As per the consequences, the banks are newly inspired by objectives other than income, proceeds, and share of market because an alternative motivation may be better for both society and the bank itself. An organisation involving in corporate social responsibility will ultimately achieve reasonable benefit in the place of market by reduction or abolition of fines or penalties imposed by government. At the similar time, it can diminish its complete coverage of company to risk. Moreover, corporate social responsibility definitely influences current value of the cash flow of company (Radzi, et al 2018).

The corporate social responsibility initiatives are also probable to develop confidence of workers, which points to higher efficiency, developed performance and less labour difficulties. Besides those advantages, the corporate social responsibility also has a positive impact on the banking sector that may be analysed in two important associations of corporate social responsibility and financial performance and image of bank. In the present time, There has been important and interest in relationship between the corporate social responsibility initiatives and corporate financial performance. According to Margolis and Walsh, 2003, the relationship can be divided into three groups such as positive relationship, negative relationship and the neutral relationship. However, after an evaluation of all appropriate and significant studies, it is clear that the most research consequences demonstrate a progressive influence on the financial growth (Tong, 2017).

The positive relationship states that corporate social responsibility advances the value of firm. It is found that the quality of corporate social responsibility in the banks might go a long way for decreasing the risk connected with financial organisations, which may increase financial performance. Consequently, a diversity of the corporate social responsibility activity is not only involved by the bank but also the financial organisations. On the other hand, the complete corporate social responsibility measure has a bad influence on the returns of stock, so does corporate financial performance. By estimating each indicator of social performance, Brammer et al. (2006) proves that the measure of employee performance has expressively bad influence on returns of stocks. By judgement, while community measure has positive but not little influence environment is the measure that has bad and no important impact on the returns of stock (Golob, Verk and Podnar, 2015).

For the comparison of neutral relationship between corporate social responsibility and corporate financial performance, it is found that there is no important connection between price of stock and the corporate social responsibility parameters. Another reason is the issue of measuring the CSP and pure marketing strategy. The neutral relationship suggests that there are many factors, which prevent the experts from the secure outcomes. The more important thing for the bank is to increase bank image because it is required by the banks to get the aim of maximizing profit (Kang, et al 2015).

Internationally, the awareness of the bank manager, stakeholder, authorities, lecturers, and clients about corporate social responsibility, Sustainable Growth and Non- Financial Reporting is improving. Therefore, the contribution of financial organisations containing banks to corporate social responsibility recently become important considering the critical role playing in funding the economic and growing actions of the world (Swami and Bankar, 2016).

Limitations of Research

The behaviour of managers in respect of corporate social responsibility are central to the corporate social responsibility strategy procedure of the banks. L. Zu (2009) states that a large proportion of the Chinese managers have good knowledge of concept of corporate social responsibility and is in the favour of corporate social responsibility. In the context of latest economic development, the managers assigned more obligations to these three stakeholders such as government, consumers, and workers.  The reason is that the stakeholders namely government, consumers and workers have huge influence on the image and reputation of firm. According to Maignan and Ferrell (2003), ninety three percent of chief executive officers in the North America and Eighty two percent of chief executive officers in Europe viewed accountable activities for the all stakeholders as a major impact on the social image of the company. The Chinese managers identify that the advantages of being a good corporate citizenship attracts the best workers, reducing lawsuits and reducing the cost of capital. The corporate social responsibility is constant with the pursuit of benefits (Hardeck, Harden and Upton, 2018).

It is believed by corporate social responsibility professionals that the proper management of corporate social responsibility is most important element for making the value of shareholders. Along with this, it is realized by the authorities from banking sector that corporate social responsibility is very significant because of the major developments of corporate social responsibility in a current economy. It was stated with the help of perception of business and stakeholder that businesses and shareholders see fifteen elements as significant, but in various stages. The better environmental growth is very important element which banking sectors concern. Furthermore, the good health is ranked as first, safety is ranked as second, and corporate governance is ranked as third. The Humanity is at last position among all the fifteen elements. The relatively traditional extents of corporate social responsibility involving the environmental growth, healthcare, security, good corporate governance, and human resources still control the concerns of the both shareholders and industry (Stoian and Gilman, 2017).

It is believed by many respondents that the corporate social responsibility is significant element for making shareholder value. The corporate social responsibility programs are very important. The reason is that corporate social responsibility program may bring the great future. Many people believe that corporate social responsibility program are helpful for the image of banks and advertisements. According to Persefoni Polychronidoua et al. (2014) that most of people do not earn profit only for the banks but also for the society. Persefoni Polychronidoua et al. (2014) states that many people will change the bank if their banks eliminated the corporate social responsibility program. In this way, the corporate social responsibility and the image by the corporate social responsibility program are very critical for the development of banks and their existence. The image of banks make contribution in the great way to attracting the more clients and keeping satisfaction of the old client. It will help the banks to retain the clients (Nyuur, Ofori and Debrah, 2016).

Literature Review

The most important to identify that any company can take decision to not to undertake corporate social responsibility programs due to many barriers. The economic barriers, political barriers, barriers related to knowledge and the perceptional barriers. These barriers stop Chinese SMEs from involving in corporate social responsibility are précised jointly (Raub and Blunschi, 2014). Various barriers are as follows-

It is believed that the investment in the social responsibility is the economic burden for the bank, where banks are required to pay additional money, more time, and energy to organise corporate social responsibility program. Generally, Small organisations can lack resources like finance, time, or human resources to devote to corporate social responsibility. It is also found that the corporate social responsibility may also affect bank loan badly in many ways (Dias, Rodrigues and Craig, 2017).

In United Kingdom, there is lack of structure of policy and the incentives required to adjust attitude of the leader of bank. The local government may lack knowledge about the corporate social responsibility in the banking sector and lack of incentives to impose law in respect of corporate social responsibility application in the banks. It is easier for them to take promotion by the short-term economic successes than by long term environmental and the social promises. It is required to make various roles and the duties of the government or banks or financial institutions in the application of corporate social responsibility measures.

The possible barrier prevents the banks in United Kingdom from increasing their social responsibility is the lack of supervisory requirements for social responsibility and the environmental responsibility. The companies in United Kingdom practice and reveal more corporate social responsibility with the help of the websites, annual reports, and separate justifiable report due to strict laws for the sustainable issues (Jamali, Lund-Thomsen and Jeppesen, 2017).

The prospects and observations of the managers or the leaders of banks are considered driving forces to direct presentation of bank in corporate social responsibility. The reason is that if bank managers have clear concept, then they can embrace the corporate social responsibility. They may apply proper policy for their banks. The concept of corporate social responsibility and the adequate elements of the corporate social responsibility are very limited. Many people have misunderstanding about corporate social responsibility that the corporate social responsibility is the government or it is non-profit organisation’s incorporation. The reason of these misconceptions is the lack of knowledge or lack of education among the people of bank. The people are unaware of the critical consequences of not making the corporate social responsibility and the corporate social responsibility reporting. The corporate social responsibility program can help to enhance the corporate social responsibility practices or policies in the banking sectors (Lenssen, Rhee and Martinez, 2017).

In 1980, there was recession period in United Kingdom. The allegations were made on the government of the United Kingdom. There was at least a fustian of administrative extraction in the prosperity. Although this rhetoric contradicted the authenticity of affected improved common expenses, involving providing safety, it was also accompanied by the argument between business and the governments system and within business about its own accountability in prosperity and in new institutionalisation (Utama, 2017).

Meaning and Concept of Corporate Social Responsibility

This new concept of corporate social responsibility was obvious in many independent companies who make re assessment of the relations with society. It established new concept of corporate social responsibility (Cottrell and McKenzie, 2011). This was also obvious in their inclination to join connotations for the accountability of business, most particularly and most long lasting, trade in the society. The relations delivered data and links for their members; offered outlines for collective comebacks to downturn particularly joblessness at the resident and regional levels.

Other major importance of corporate social responsibility in recession was the new systems in which corporations operated to attain actual and more genuine replies. These comprised local government and regional administrations, public groups and other non-governmental organisations. However, these companies re-defined the corporate social responsibility in a range of new official systems between public and marketplace, where own public and private resources were joint. The main monetary aids came from governmental associations (Gooberman, Hauptmeier and Heery, 2018).

The corporate social responsibility in the United Kingdom has become institutionalised within corporations, among corporations, between corporations and government, and with other governmental and societal corporate social responsibility initiatives. However, the growth of corporate social responsibility from time of recession should not be taken for settled (Hadjimanolis, 2017).

The industry detailed features of corporate social responsibility are significant and governmental effects and financial regulation deliver an added dimension to the influence of corporate social responsibility on the financial services industry. As a component of organisational change, the corporate social responsibility performs as a conservational gap and forces firms to realign their positions within their operating environment (Foroohar, 2011). A structural change model is established to inspect trends, which are developing within retail banking as a result of corporate social responsibility. In the United Kingdom, retail banking sector, the influence of corporate social responsibility is progressively apparent in the efforts to make a good benefits out of corporate social responsibility strategies, the rising fame of mutual financial organisations in policy of the government and cooperative efforts between a ranges of financial institutions (Wang, et al 2016).

The research methodology chapter renders complete knowledge about the approaches, implements, and systems to make the research study in the proper manner. This chapter is also effective for conducting research to attain the support in respect of gathering data and evidences from the various members and sources to complete study (Cook and Burchell, 2018).  

In the research, research philosophy produces the understanding and information of the researcher about research problem. Similarly, proper research philosophy monitors the researcher to know the manner of data collection and use of research procedure. There are three types of research philosophy namely interpretivism philosophy, positivism philosophy and realism philosophy (Hyman and Sierra, 2010). The positivism philosophy is about accurate knowledge based on the explanations and capacities. With the help of this, the researcher may discover the fact based on statistical information. The realism philosophy is depended on the human beliefs and reality, which is existed in the environment. An interpretivism philosophy helps the researchers to develop knowledge about the problem of research by taking ideas of members (Marshall and Rossman, 2014). 

Impacts of Corporate Social Responsibility on the Bank

Here, an interpretivist philosophy is used. This philosophy helps the researcher to give valid result related to the recent developments in corporate social responsibility by banking sector in United Kingdom. In this research study, positivism philosophy and realism philosophy is not used because there is no need to use highly designed approach (Banik, Gupta and Bhaumik, 2016).

It is necessary to choose research approach to validate the chosen research design. With the help of this, researchers are also able to represent the data proper manner. Inductive and deductive are two types of research approaches. It enable the researchers to validate the use of specific data. Deductive approach is proper with the positivism philosophy. On the other hand, inductive approach is appropriate with the interpretivist philosophy (Schwartz-Shea and Yanow, 2013). In this, the deductive approach develops the theories related to the problem of research. For this, the researchers require to collect various types of data to admit theories or to not to admit theories. For this research, inductive approach is made over the deductive approach. The reason is that this approach made able the researcher to attain particular knowledge on problem (Maani Hessari and Petticrew, 2017).

In this research study, the researcher has used both exploratory research designs and descriptive research designs. The reason is that by using the exploratory research design, the researcher may collect data in related to the recent developments in corporate social responsibility activities by the banking sector in United Kingdom. On the other hand, the use of descriptive design supported in having the knowledge of features of the group or community and individual. These research designs may also help the researcher in combining the observation and opinions of the members, in respect to meet the objective and response the problem or issue related to research study. At the similar time, the researcher has not used the casual research design because there is no such requirement to improve the cause-and-effect relationship between various variables (Halkos and Skouloudis, 2016).

The research designs include; exploratory research design, descriptive research design, and causal research designs. The exploratory research design shows the preliminary research, where researchers get the problem of research with the help of established theories. On the other hand, descriptive research design supports researchers to get detailed information about the problem. At the same time, causal research develops cause and effect connection between variables. In this research, both exploratory and descriptive research designs are used because exploratory research design made able the researcher gather data related to the recent developments in corporate social responsibility through banking sector in United Kingdom (Ditlev-Simonsen, 2015).

The research study is very important to examine the problem of research issue by responding the research questions in the proper manner. From the effective research strategy, the researchers gather the background information and examine collected data to make conclusion (Brunk and de Boer, 2018). The researchers may use various research strategies such as survey, literature review, questionnaire, observation, interview, and case laws. In this research, the researcher used survey and interview because it makes easy to collect proper amount of data related to recent development in corporate social responsibility activities by banking sector in United Kingdom (Feng, Zhu and Lai, 2017).

With the help of the survey research strategy, the researcher enabled to gather data in fewer cost and less time that improved the consistency of research among the main shareholders. On the other hand, the use of the interview strategy helped the expert to meet with the members individually and get their opinions and observation in respect of the problem of research. It also helped the researcher in establishing the rationality of research (Adi and Grigore, 2015).

There are two types of data collection resources such as primary resources and secondary resources. The primary data is new and collected first time by the researcher. For collecting primary data, the researchers use survey, interview, questionnaire, group discussion, action research, and case study to gather the primary resources.  On the other hand, secondary data is gathered by other researchers to fulfil requirements (Hofman, Moon and Wu, 2017).

For this research on recent developments in CSR activities through banking sector, the researcher used both methods. The primary data collection sources is effective to make direct interaction with the people in order to know their views related to research issue. On the other hand, secondary data collection method is effective to generate detailed and theoretical knowledge in detail (Dorobantu, et al 2018).

 The sampling strategy refers to the choice of suitable members for the conducting the research study to give answers of the research questionnaire for completing the research study or research project. There are two types of sampling strategies such as probability sampling strategy and non-probability sampling strategy. These strategies help researchers to choose the correct statement from different people. Probability-sampling strategy sampling is used in the form of random selection of contributors (Tempels, Verweij and Blok, 2017). In non-probability sampling strategy, all individuals have not same chance of being chosen. Here, both sampling strategies are used.  Probability sampling strategy with random sampling is used to choose the members for survey questionnaire. For this research study, 50 individuals including male and female are selected for the survey questionnaire. On the other hand, non-probability sampling strategy with the suitable sampling technique is also used to choose the people of interview on the basis of their talents, information and the experience. For this, five person are selected to make face-to-face interaction or discussion or the interview with them. In this, the members are came near when they were permitted to deliver their opinions and views related to the problem of research and interview questions (Beck, Frost and Jones, 2018).  

After gathering the data, it is important to analyse them. It requires data analysis method to generate valid and consistent results regarding research problem. The researchers use different data analysis method such as content analysis, statistical analysis, conversational analysis, and disclosure analysis. The statistical data analysis method is used to gather data. With the help of this, the researcher enabled to show the graphic figures of the data involving revert, connection and snappy tabularization and understand the sense after the replies of the members (Kaplan and Kinderman, 2017).

Here, MS-Excel and SPSS software are used to show the data in graph and tables to improve knowledge about the answers and conclusions about the recent developments in CSR activities by banking sector in United Kingdom (Lock and Seele, 2016).

An ethical consideration helps researchers to accept suitable behaviour to complete the research properly. Many problems arise at the time of conducting research study such as plagiarism, contravention with copyright act and data splitting in regarding secondary data collection. These problems are moderated by the researcher by giving credit to researchers in respect of references. On the other hand, the researcher has used exact languages to understand the collected data and to ignore the similar report. At the same time, the researcher has taken prior appointment from the particular members for gathering primary data in respect of research problem (Toda and Dawson, 2017).

With the help of this, the researcher allowed to gather data. The researcher is also permitted to collect the evidences and relevant information from the members in full part. It also helped the researcher to keep the consistency of data and evidences in the proper manner. On the other hand, the researcher has also well-versed in respect of the strategies, rules, policies, methods, and procedures related to the confidentiality of members’ individual information that their personal information will not be revealed at the time of conducting the research and after conducting the research (Lyon and Montgomery, 2015).

Conclusion

As per the above analysis, it can be said that correct research methodology allowed the researcher to achieve the research purposes and goal. By conducting study of various research philosophies, tactics, strategies, projects and data collection methods in respect the effect of recent developments in CSR activities in United Kingdom, the researcher may enable to collect necessary data about the recent developments in CSR activities by banks. On the other hand, through considering ethical issues, the researcher enabled to perform this research in decent and significant methods.

Survey Questionnaire recent developments in CSR activities through banking sector in United Kingdom

Survey through questionnaire was made on 50 persons. According to this questionnaire, various questions have been asked by the researcher regarding demographic based fundamentals and purpose of research for attaining the aims of research.  

From the examination of survey conducted by the questionnaire, it can be assessed that there are many impacts of corporate social responsibility on the banks. These results are also reinforced by examination of interview as it presented that corporate social responsibility affects the banks. Both interview and survey through questionnaire are supported by the opinion of Gatewood, Field and Barrick (2015) as it was assessed that these influences include many significant factors. These are maximization of profit, reducing penalty or fine, reducing the risk of company, increasing the value of firm and impacts over current value of cash flow of the company. This examination highlights the certain factors such as population of size, age, race, gender, geography of the country. Further, the main motto of the developments in corporate social responsibility by bank is to develop the concept of corporate social responsibility in United Kingdom (Papasolomou, 2017).

From the calculation of survey with the help of a questionnaire, it is projected that the experts suggested perceptions about corporate social responsibility. It is also examined that there are several perceptions about corporate social responsibilities, which needs to evaluate during the time period. These specific perceptions include environmental growth, security, healthcare and good corporate governance (Midttun, et al2015). These findings are reinforced by the examination of interview as it was evaluated that adopting these perceptions are not so easy. Both interview and survey by the questionnaire were supported by the opinion of as it was discussed that suitable steps are needed to be taken for resolving the problem in adopting the perceptions about the corporate social responsibility. These perceptions include that environmental growth may control the concern of both stakeholders and industry and security may control the concern of both stakeholders and industry. It also involve that health may control the concern of both stakeholders and industry and good corporate governance may control the concern of both stakeholders and industry (Hughen, Lulseged and Upton, 2014).

From the assessment of survey through a questionnaire, it is examined that several developments have been taken place in corporate social responsibility activities by banking sector in the United Kingdom. These developments involve the generation of the employment opportunities, development of retail banking in the United Kingdom, the governmental effects, and the financial regulations. After the period of recession in the United Kingdom, there are many opportunities came to the citizens of the United Kingdom. The people got employment and started their own earning (Taschner and Clayton, 2015). The reason was that the banks or the banking sectors of the United Kingdom had adopted the corporate social responsibility activities. After the adoption of corporate social responsibility activities by the banking sector, many financial regulations took place in the United Kingdom. They were very helpful in achieving the growth and development. The retail banking had been started in the United Kingdom. Many governmental effects took place in United Kingdom after the adoption of corporate social responsibility activities. The corporate social responsibility activities took many business opportunities for the citizens of the United Kingdom (Rey-Garcia, Sanzo-Perez and Álvarez-González, 2018).

Conclusion

Impacts of the corporate social responsibility on the banks in United Kingdom

From the above clarification, it can be decided that there are many impacts of the corporate social responsibility on the bank. The corporate social responsibility may affect the growth or development of the banks in United Kingdom. The higher level of institutional corporate social responsibility is connected with the lower levels of interest rate. These impacts stated the interest rate and loan. The research study states that the corporate social responsibility is esteemed by the stakeholders for the risks mitigating. The corporate social responsibility activities help the banks to reduce the cost (Brammer and Pavelin, 2016).

As per the above interpretation, it could be concluded that the efforts to apply and develop the corporate ethics and social responsibility are linked with increased job behaviour (Maon, Swaen and Lindgreen, 2017). However, the nature and scope of this relation is subject to the examination. As per this research study, it is found that corporate social responsibility has great impact on the clients of the banks. By adopting the corporate social responsibility, the banks may solve the problems of their clients. Corporate social responsibility helps in maximizing the profit and reducing the company risk. It also creates the value of shareholders (Selmier, Newenham-Kahindi and Oh, 2015).

As per the above discussion, it is concluded that there are many barriers in undertaking the corporate social responsibility in bank. These barriers cover economic obstacles, political obstacles, and barriers related to knowledge. It is not easy for the banks to organise the corporate social responsibility program because it will take time and money. On the other hand, it is very difficult for small banks to apply and improve the corporate social responsibility (Del, et al 2017). They have no resources or the less resources to apply and develop the corporate social responsibility. Further, barrier of knowledge is also a big factor to be considered. Most of people think that the corporate social responsibility is the government (Galea, 2017).

 They have no knowledge about the corporate social responsibility and impact of corporate social responsibility. It is a biggest barrier in the undertaking of corporate social responsibility in banking sector. It is also found by the above discussion that the barriers create the problem in the application and development of the corporate social responsibility badly (Santos, Rodrigues and Branco, 2016).

From the above discoveries, it can be recommended that the corporate social responsibility should be the accountability of the banks. The banks are required to adopt the corporate social responsibility because the corporate social responsibility is the strategic method for achieving the economic objects.

It can be suggested that the banks should be highly focused on the charity. The banks are required to give the donations to others. The banks are required to make the arrangements for the vocational training. The banks should necessary steps to provide the knowledge. They should focus on the credit counselling for the rural development by the corporate social responsibility activities.

It can be recommended that there should be arrangements to encourage the better living conditions of the customers of the banks. The banks are required to make focus on the customer welfare corporate social responsibility activities. The 31% individuals agreed with these statements. It is strongly believed by the people that the bank should help the poor people. The bank must give the financial help to the customers of the banks. It is also required by the bank to abolish the poverty by taking the necessary steps. The banks are also required to start the healthcare facilities for the customers of the banks.

As per the consequence of data analysis, it is showed that Clients has a positive attitude for the corporate social responsibility. Many customers have given believe that the corporate social responsibility is a social responsibility instrument. It plays an important role in solving the problem or the issues of society. The clients also believe that Bank must focus on the some specific areas such as healthcare, female empowerment, rural expansion, poverty abolition, and the welfare of the clients. Many customers are neutral and not agreed on the social responsibility of the banks for the welfare of the clients. The clients of the banks are very strongly agreed that banks should be more focused on the poverty eradication. The main reason is that when deficiency, scarcity or poverty will be decrease than country will also advanced rapidly. It is also shown that corporate social responsibility done by the banks improve a positive influence on the perception of client of the bank. It is suggested that corporate social responsibility should be meeting the general population. It should be based on the principles of disbursing back to the society.

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