LISTING OF CORE VALUES OF HINDUISM:

1. Satyameva Jayate:
TRUTH ALONE WINS.
Whatever may be the short term result of work of different people in society, even though untruth may appear to be
the winner over the short time, truth will be the ultimate winner. One must follow truth and be truthful.

2. WORK FOR INTEGRATION OF SELF AT ALL LEVELS.

One must achieve integration of his mind, body and soul integration at the levels of physical body, mind and prana
(energy field that holds the entire body - all its cells and organs together). Without yoga one cannot reach a higher
level of existence. People who are immensely attached to their work are karmayogis and those who are highly
intellectually driven are gnyaanayogis.

3. Follow the principle Sarvabhootastam Atmanam, Sarva Bhootani cha Atmani:

ELEVATE YOURSELF TO SEE OTHERS IN YOURSELF AND YOURSELF IN OTHERS.
As one progresses in spiritual life he/ she can experience everyone else in himself/ herself. Let us learn to experience
the problems and sufferings of others as if it is our own. Let us not just empathise, but become a part of the person
and share his/ her sufferings. We then become an elevated soul.

4. Ahimsa paramo dharmah

THERE IS NO DHARMA (DUTY ORDAINED FROM A HIGHER LEVEL) SUPERIOR TO NOT HARMING OR
HURTING OTHERS.
In pursuing ones goals and in the process of becoming an achiever and a great performer, one should not harm
others. There can be no duty to self or family superior to avoiding hurtful or harmful behaviour.

5. Pursue knowledge and reach beyond knowledge through Vedam & Vedantam:
TO EVOLVE INTO A SUPERIOR PERSONALITY CONSTANTLY PURSUE KNOWLEDGE AND THEN GO
BEYOND KNOWLEDGE FOR TRUE SELF-REALISATION"
Man evolves through his quest for knowledge. The emphasis of Vedic thought on scientific orientation is the reason
why many of the modern scientific discoveries are already part of Hindu Vedic thought. And it says, Go beyond the
trap of present day knowledge and explore into the territory of the unlimited space of knowledge not yet revealed.
An individuals vaasanas (tendencies, likes and dislikes), background, upbringing and environment determine the
quality of his/ her knowledge. Human capabilities are finite and all knowledge is governed by the limits of this
capability. We should get out of this limitation. When we reach beyond knowledge by crossing the boundaries of
human capabilities, we will realise our self at a higher level.

6. Purusha eva idam sarvam - Perception is everything:

ALL HUMAN BEINGS ARE DRIVEN BY PERCEPTION - Bhagwadgita
One can choose the perception that drives him/ her Good value based or bad ones. To evolve into a superior person,
stick on to the right ones.
NOTHING IS CREATED IN THE UNIVERSE WITHOUT FIRST BEING PERCEIVED. UNDERSTAND ITS
POWER TO BECOME A CREATIVE PERSON. - Purusha Suktam

7. Ones personality is determined by his/ her Guna and Karma:

OWN NATURE AND PAST ACTIONS DETERMINE THE PRESENT PERSONALITY OF EVERY
INDIVIDUAL"
Each persons past actions and nature determines his/ her personality. Hence to improve your personality, you must
ensure that you do only work of high universal values, values that provide satisfaction to as many people as possible,
that are universally acceptable and that elevate your personality. Also always explore your nature and ensure that it
gets shaped and modified into what is universally acceptable.

8. Avoid being driven by action-result syndrome - Maa Karma-phala heturbhuh:

AVOID WORKING FOR A DESIRED RESULT WITHOUT INTELLECTUAL ANALYSIS AND GET TRAPPED
INTO AN ACTION-RESULT SYNDROME.
Everyone carries out actions expecting desired results. All actions produce some result or the other. The problem is desired result often does not match the actual result. When this happens, we generally get trapped into stronger
actions, more dynamic work and emotional response. Both on good result and bad ones, we should not get
emotionally disturbed or stronger and more forceful action. Pause, think, calm down and reorganise your work. You
will become a superior personality.

9. Sarvadharmaan parityajya maam ekam sharanam vraja. Aham twa sarva paapebhyo
mokshaishyaami - Bhagwadgita:
WHENEVER YOU ARE CONFUSED BECAUSE CARRYING OUT AN ACTION COULD EB RIGHT (WHEN
VIEWED FROM ONE ANGLE), AND WRONG (WHEN VIEWED FROM ANOTHER)PLEASE COME TO ME",
- GOD SAYS IN BHAGWADGITA, "IF YOU CARRY OUT WHAT I GUIDE AS RIGHT, YOU WILL BE
RELEASED FROM ALL YOUR SINS."

10. Do all work in the spirit of Yagnya:

Mankind can progress only through STRIVING TOGETHER.
Promote pursuit of goals together as teamwork in all human endeavours.
When we join hands together with all those who work to achieve a common goal, the higher level forces (Devatas)
will support us and we will definitely achieve our goals. All of us would carry out our work as the subjects of the goal
towards which we work, and if all persons having a common goal work together with a spirit of sharing we shall
achieve whatever we desire. The goal becomes the kamadhenu, the cow that fulfils all our positive desires.
Achieve freedom and liberate yourself Obtain Moksham/ Mukti:
THE ULTIMATE GOAL OF MAN SHOULD BE LIBERATION FROM ALL THE TRAPPINGS OF ONE'S
LIFE.

Core Islamic Beliefs: Six Articles of Faith

More than a billion Muslims share a common set of fundamental beliefs that are described as "Articles of
Faith." These articles of faith form the foundation of Islamic belief system.
1. Belief in One God: The most important teaching of Islam is that only God is to be served and
worshipped. Also, the biggest sin in Islam is to worship other beings with God. In fact, Muslims believe
that it is the only sin that God does not forgive if a person dies before repenting from it.

2. Belief in Angels: God created unseen beings called angels who work tirelessly to administer His
kingdom in full obedience. The angels surround us at all times, each has a duty; some record our words
and deeds.
3. Belief in Prophets of God: Muslims believe that God communicates His guidance through human
prophets sent to every nation. These prophets start with Adam and include Noah, Abraham, Moses, Jesus
and Muhammad, peace be upon them. The main message of all the prophets has always been that there
is only One true God and He alone is worthy of being supplicated to and worshipped.
4. Belief in Revealed Books of God: Muslims believe that God revealed His wisdom and instructions
through books to some of the prophets like the Psalms, Torah, and the Gospel. Over time, however, the
original teachings of these books got distorted or lost. Muslims believe the Quran is Gods final
revelation revealed to Prophet Muhammad and has been fully preserved.
5. Belief in Day of Judgment: The life of this world and all that is in it will come to an end on an
appointed day. At that time, every person will be raised from the dead. God will judge each person
individually, according to his faith and his good and bad actions. God will show mercy and fairness in
judgment. According to Islamic teachings, those who believe in God and perform good deeds will be
eternally rewarded in Heaven. Those who reject faith in God will be eternally punished in the fire of
Hell.
6. Belief in Destiny and Divine Decree: Muslims believe that since God is the Sustainer of all life,
nothing happens except by His Will and with His full knowledge. This belief does not contradict the idea
of free will. God does not force us, our choices are known to God beforehand because His knowledge is
complete. This recognition helps the believer through difficulties and hardships.

FAIR LENDING PRACTICES CODE (FLPC)

1. PREAMBLE
Scope:
(a) FAIR LENDING PRACTICES CODE (FLPC for short) is a voluntary code adopted by our
Bank, which aims to achieve synchronization of best practices while dealing with Customers in
India. It aims to provide valuable inputs to Customers and facilitates effective interaction of
customers with the Bank.
Extent:
(b) FLPC would be applicable in the Bank from the date it is placed in the Bank's website or is
otherwise publicised through the media.
FLPC contains 8 important declarations from us, the spirit of which pervades the entire FLPC
provisions.
2. Important declarations:
The Bank declares and undertakes
To provide in a professional manner, efficient, courteous, diligent and speedy services in the
matter of retail lending.

 Not to discriminate on the basis of religion, caste, sex, descent or any of them.
To be fair and honest in advertisement and marketing of Loan Products.
To provide customers with accurate and timely disclosure of terms, costs, rights and
liabilities as regards loan transactions.
If sought, to provide such assistance or advice to customers in contracting loans.
To attempt in good faith to resolve any disputes or differences with customers by setting up
complaint Redressal cells within the organization.
To comply with all the regulatory requirements in good faith.
To spread general awareness about potential risks in contracting loans and encourage
customers to take independent financial advice and not act only on representations from
banks.
3. FAIR PRACTICES:
3.1. Product Information:
a) A prospective customer would be given all the necessary information adequately explaining the
range of loan products available with the Bank to suit his / her needs.
b) On exercise of choice, the customer would be given the relevant information about the loan
product of choice.
c) The Customer would be explained the processes involved till sanction and disbursement of
loan and would be informed of timeframe within which all the processes will be completed
ordinarily at our bank.
d) The Customer would be informed of the names and phone numbers of branches and the
persons whom he can contact for the purpose of loan to suit his needs.
e) The Customer would be informed the procedure involved in servicing and closure of the loan
taken.
3.2. Interest Rates
3.2.1. Interest Rates for different loan products would be made available through and in anyone
or all of the following media, namely:
a) In the Bank's Web site
b) Over phone, if Tele Banking services are provided
c) Through prominent display in the branches and at other delivery points
d) Through other media from time to time
3.2.2 Customers would be entitled to receive periodic updates on the interest rates applicable to
their accounts.
3.2.3 On demand, Customers can have full details of method of application of interest.
3.3 Revision in Interest Rates:
a) The Bank would notify immediately or as soon as possible any revision in the existing interest
rates and rnake them available to the customers in the media listed in Para 3.2.1.
b) Interest Rate revisions to the existing customers would be intimated within 7 working days
from the date of change through notifications in the Bank's Website/ media/ notice board at
branches.

3.4. Default Interest/Penal Interest:

a) The Bank would notify clearly about the default interest/penal interest rates to the prospective
customers.
3.5. Charges:
a) The Bank would notify details of all charges payable by the customers in relation to their loan
account.
b) The Bank would make available for the benefit of prospective customers all the details relating
to charges generally in respect of their retail products in the media specified in Para 3.2.1.
c) Any revision in charges would be notified in advance and would also be made available in the
media as listed in Para 3.2.1.
3.6. Terms and Conditions for Lending:
a) The Bank would ordinarily give an acknowledgement of receipt of loan request and if
demanded by the customer, a copy of the application form duly acknowledged would also be
given, as soon as the customer chooses to buy a product of or service of his choice.
b) Immediately after the decision to sanction the loan, the Bank would show draft of the
documents that the customer is required to execute and would explain, if demanded by the
customer, the relevant terms and conditions for sanction and disbursement of loan.
c) Loan Application forms, Draft documents or such other papers to be signed by a customer shall
comprehensively contain all the terms and conditions relating to the product or service of his
choice.
d) Reasons for rejection of loan applications would be conveyed to small borrowers seeking loans
up to Rs. 2 lac.
e) Before disbursement of loan and on immediate execution of the loan documents, the Bank
shall deliver a copy of the documents to the customers.
3.7. Accounting Practices:
a) The Bank would provide regular statement of accounts, unless not found necessary by the
customers.
b) The Bank would notify relevant due dates for application of agreed interest, penal interest,
default interest, and charges if they are not mentioned in the Loan applications, documents or
correspondence.
c) The Bank would notify in advance any change in accounting practices which would affect the
customer before implementation
3.8. Information Secrecy
a) All personal information of the customer would be confidential and would not be disclosed to
any third party unless agreed to by customer. The term 'Third party' excludes all Law
enforcement agencies, Credit Information Bureau, Reserve Bank of India, other banks/ financial
and lending institutions.

b) Subject to above Para, customer information would be revealed only under the following
circumstances;
If our Bank is compelled by law
If it is in the Public Interest to reveal the information
If the interest of the Bank require disclosure.
3.9. Financial Distress:
a) The Bank would sympathetically reckon cases of customer's financial distress.
b) Customers would be encouraged to inform about their financial distress as soon as possible.
c) The Bank would adequately train the operational staff to give patient hearing to the Customers
in financial distress and would try to render such help as may be possible in their view.
3.10. Grievance Redressal
a) The Bank would have a Grievance Redressal Cell/ Department/ Centre within the organization.
b) The Bank would make available all details, namely;

Where a complaint can be made

How a complaint should be made
When to expect a reply
Whom to approach for Redressal of grievance etc.,

To the customers individually on demand and through the media listed in Para 3.2.1.
c) Response to a complaint whether positive or negative or requiring more time for redressal
would generally be given within a maximum period of four weeks from the date of receipt of
complaint, unless the nature of complaint is such that requires verification of voluminous facts
and figures.

CSR
Background and Definition
The role of business in society has been debated in economic literature for a long time. By the
term Corporate Social Responsibility (CSR), what is generally understood is that business has an
obligation to society that extends beyond its narrow obligation to its owners or shareholders.
Corporate Social Responsibility is nothing but what an organization does to positively influence
the society in which it exists. It could take the form of community relationship, volunteer assistance
programmes, healthcare initiatives, special education / training programmes and scholarships,
preservation of cultural heritage and beautification of cities. The philosophy is, basically to give back to
the society, what it (business) has taken from it, in the course of its quest for creation of wealth.
There is no single, commonly accepted definition of Corporate Social Responsibility. But
following the US UK tradition, it can be defined as follows:
Corporate Social Responsibility is operating a business in a manner which meets or excels the
ethical, legal, commercial and public expectations that a society has from business.

Key Elements in Most Definitions of CSR:

1) Corporations have responsibilities that go beyond the production of goods and services at a profit.
2) These responsibilities involve helping to solve important social problems, especially those they
have helped create.
3) Corporations have a broader constituency than stockholders alone.
4) Corporations have impacts that go beyond simple marketplace transactions.
5) Corporations serve a wider range of human values than can be captured by a sole focus on
economic values.
According to Wood, the basic idea of corporate social responsibility is that business and society are
interwoven rather than distinct entities. Expectations are placed on business due to its three roles:
(i)
As an institution in society
(ii) As a particular corporation or organization in society
(iii) As individual managers who are moral actors within the corporation.
These roles can be expressed in terms of three principles of corporate social responsibility:
legitimacy, public responsibility, and managerial discretion.
Legitimacy refers to societys granting of legitimacy and power to business, and businesss
appropriate use of that power and the possibility of losing that power. Corporate social
responsibility defines the institutional relationship between business and society that is
expected of any corporation. Society has the right to grant this power, to impose a balance of
power among its institutions, and to define their legitimate functions. The focus is on
businesss obligations as a social institution, and society takes away power or imposes some
sort of sanction on business if expectations are not met.
Public responsibility means that business is responsible for outcomes related to its areas of
involvement with society. The level of application is organizational that is, the corporation and
confines businesss responsibility to those problems related to a firms activities and interest.
The principle involves emphasizing each corporations relationship to its specific social,
ethical, and political environment.
Managerial discretion refers to managers as moral actors who are obliged to exercise such
discretion as is available to them to achieve socially responsible outcomes. Discretion is
involved as the actions of managers are not totally prescribed by corporate procedures. The
level of application is the individual who has the choices, opportunities, and personal
responsibility to achieve the corporations social responsibility.

....
Why CSR?
1) Business should operate in such a way as to fulfill societys needs or expectations. It should do so
for a very pragmatic reason: it is believed in some quarters that business functions by the consent
of society and therefore must be sure to satisfy the needs of society. In other words, the existence
of the business system depends on its acceptance by society. If business is to prevent criticisms or
mutinous behaviour, it must be receptive to what is happening in society and respond in some
way.

2) A social responsibility role should be undertaken in order to prevent some public criticism and
discourage further government involvement or regulation. This is a defensive approach designed
to offset possible government action against those in the business system who use their power
irresponsibly.
3) Business must realize that society is a system of which corporations are a part, and that the
system is interdependent. Therefore, if business institutions interact with others in society, the
need for social involvement along with increasing interdependence come the need to participate
in the complex system that exists in society. There are many mutual involvements among
individuals, groups, and organizations in society, or among subsectors of society. Business is
vulnerable to the actions or events that occur in other subsectors.
4) Social responsibility is in the shareholders interest; that is, being socially responsible will simply
be profitable, especially in the long term. Corporate virtue is good for profits.
5) A poor social responsibility role on the part of the corporation means poor management to some
investors. They view failure to perform in societys interest in much the same way as they view
the corporations failure to perform in financial matters. Similarly, consumers are showing
increasing interest in and support for responsible business practices.
6) Business must realize that social problems can become opportunities, or can lead to profits.
Expenditures on pollution abatement may result in the retrieval of materials that were formerly
disposed of as waste, or may allow for equipment to operate more efficiently, thereby generating
more profits on future operations.
7) With regard to social responsibility matters, business should take a long-run as opposed to a
short-run view. Profits may increase in the long run as a result of actions taken at the present
time. Judging the benefits of social responsibility becomes a simple matter of ascertaining
whether it is in the corporations longest-term self-interest to be conscious of social responsibility
matters.
8) Corporations must be concerned with the public image and the goodwill generated by responsible
social actions.
9) Business should be given an opportunity to solve some social problems. The logic behind this
argument is that business can solve problems as well as government can and that it certainly
cannot do any worse than government has in the past: business possesses the expertise, in its
managers and executives, to develop plans to overcome social problems. As government is
reducing its efforts to address some social problems, business needs to fill the gap.
10) Businesspeople are also concerned citizens and humans who are interested in social matters. It
is not appropriate for them to ignore social matters.
The Four Phases of CSR Development in India
The history of Corporate Social Responsibility in India has its four phases which run parallel to
India's historical development and has resulted in different approaches towards Corporate Social
Responsibility. However the phases are not static and the features of each phase may overlap other
phases.
The First Phase
In the first phase charity and philanthropy were the main drivers of Corporate Social Responsibility.

Culture, religion, family values and tradition and industrialization had an influential effect on
Corporate Social Responsibility. In the pre-industrialization period, which lasted till 1850, wealthy
merchants shared a part of their wealth with the wider society by way of setting up temples for a
religious cause. With the arrival of colonial rule in India from 1850s onwards, the approach towards
Corporate Social Responsibility changed. The industrial families of the 19th century such as Tata,
Godrej, Bajaj, Birla, and Singhania were strongly inclined towards economic as well as social
considerations. However it has been observed that their efforts towards social as well as industrial
development were not only driven by selfless and religious motives but also influenced by caste
groups and political objectives.
The Second Phase
In the second phase, during the Independence movement, there was increased stress on Indian
Industrialists to demonstrate their dedication towards the progress of the society. According to
Gandhi, Indian companies were supposed to be the "temples of modern India". Under his influence
businesses established trusts for schools and colleges and also helped in setting up training and
scientific institutions. The operations of the trusts were largely in line with Gandhi's reforms which
sought to abolish untouchability, encourage empowerment of women and rural development.
The Third Phase
The third phase of Corporate Social Responsibility (196080) had its relation to the element of
"mixed economy", emergence of Public Sector Undertaking and laws relating labor & environmental
standards. During this period the private sector was forced to take a backseat. The public sector was
seen as the prime mover of development. Because of the stringent legal rules and regulations
surrounding the activities of the private sector, the period was described as an "era of command and
control".
The Fourth Phase
In the fourth phase (1980 until the present) Indian companies started abandoning their traditional
engagement with CSR and integrated it into a sustainable business strategy. In 1990s the first
initiation towards Globalizations and Economic Liberalization were undertaken. Controls and
licensing system were partly done away with which gave a boost to the economy the signs of which
are very evident today. Increased growth momentum of the economy helped Indian companies grow
rapidly and this made them more willing.
Globalization has transformed India into an important destination in terms of production and
manufacturing bases of TNCs are concerned. As Western markets are becoming more and more
concerned about and labour and environmental standards in the developing countries, Indian
companies who export and produce goods for the developed world need to pay a close attention to
compliance with the international standards.
ADVANTAGES OF CSR
Company benefits:

Improved financial performance;

Lower operating costs;
Enhanced brand image and reputation;
Increased sales and customer loyalty;
Greater productivity and quality;

 More ability to attract and retain employees;

Reduced regulatory oversight;
Access to capital;
Workforce diversity;
Product safety and decreased liability.

Community & General Public

Charitable contributions;
Employee volunteer programmes;
Corporate involvement in community education, employment and homelessness programmes;
Product safety and quality.

Environmental Benefits
Greater material recyclability;
Better product durability and functionality;
Greater use of renewable resources;
Integration of environmental management tools into business plans, including life-cycle assessment
and costing, environmental management standards, and eco-labeling.
Advantages
Corporate Social Responsibility, while they may be emotional, personal, mental, physical, and spiritual
in nature, the advantages of working in the nonprofit sector far outnumber the disadvantages. Perhaps
the best advantage is that it simply feels right to you, right now, to work for something you believe in
deeply.
Nonprofits employ interesting people.
It is a common misconception that nonprofits have to settle for only those employees willing to work
long hours for low pay. On the contrary, nonprofits often get to choose between the best and the
brightest candidates and can afford to be picky about who they choose to employ. There is
something to be said for working with people who have chosen to work toward a higher goal.
Unparalleled growth opportunities exist.
While three corporate employees may be assigned to one project, one nonprofit employee may find
himself assigned to three projects. This can lead to faster career development and more varied job
responsibilities for those looking to get ahead quickly.
Employees can shift skill sets quickly.
The nonprofit sector loves a generalist. With fewer staff slots than necessary for the work to be done,
nonprofits look to employees to multi-task, and multi-task big time. Because of that, nonprofits offer the
opportunity for employees to learn new skills and gain experience in areas they have yet to tackle.
The opportunity to change the world is around every corner.
Nonprofits have become much more sophisticated. They increasingly look like corporations, eager and
able to nimbly respond to opportunities presented by the market. Whether it is a natural disaster half
the world away, or a donor down the street who wants the organization to think bigger about its
programs, many nonprofits have employed new thinking, technological advances, and a more
entrepreneurial approach to become more agile, adept, and prepared.
Nonprofits value business skills.
The nonprofit sector is being flooded with people who have spent a day, a year, or a whole career in
the for-profit sector and have decided that now is the time for change.

The lines between corporate and community are shrinking, and the value of those from each sector is
rapidly being understood and capitalized upon by the other.
Disadvantages
Work environments can be frustrating.
From antiquated technology to bureaucratic red tape, working at a nonprofit can be downright
exasperating. Employees are asked to do more work with fewer resources, create miracles on a daily
basis, and satisfy competing interests. The pace of change is often slower than it is in a for-profit
environment, given that so many opinions must be considered and the bottom line is not as clear.
The level of burnout is high.
Those who enter the nonprofit workforce with a specific mission and goal in mind do so with great
purpose. This great purpose often places a heavy weight on the shoulders of those doing the work.
The stakes are higher.
A bad day in a corporate job is unlikely to resemble a bad day in a nonprofit job. Consider the
difference between losing a few percent off your stock price and losing a mentored young person to
drugs. The stakes are simply higher when you are dealing with a cause close to your heart.
There is a constant focus on fundraising.
Nonprofit executives wake up every morning and go to bed every night worrying about the location of
their next fundraised dollar. This constant pressure leads to certain internal issues going unaddressed
until a crisis emerges, takes the chief executive away from the office for long periods of time, and can
lend itself to mission drift.

PYRAMID OF CSR:
One way to view corporate social responsibility is through Carrolls pyramid, which he claims
presents the concept such that social responsibility will be accepted by a conscientious
businessperson. There are four kinds of social responsibilityeconomic, legal, ethical, and
philanthropicwhich can be depicted in a pyramid, as presented in Figure 7.1. Carroll contends that
all of these responsibilities have always existed to some degree, but ethical and philanthropic
responsibilities have become significant only in recent years.
Economic responsibilities relate to businesss provision of goods and services of value to
society. Profits result from this activity and are necessary for any other responsibilities to be carried
out. It is assumed that corporations will be as profitable as possible, maintain a strong competitive
position, and maintain a high level of operating efficiency. These are responsibilities that the
corporation must do and the key stakeholders are shareholders, creditors, and consumers.
Society expects business to conform to laws and regulations formulated by governments that
act as the ground rules under which business must operate. Corporations are expected to pursue
profits within the framework of the law, which establishes what are considered fair operations.
Society expects that all goods and services and relationships with stakeholders will meet at least
minimal legal requirements.
Ethical responsibilities include those activities that are not expected or prohibited by society
as economic or legal responsibilities. Standards, norms, or expectations that reflect concern for select
stakeholder input is fair, just, or in keeping with their moral rights. Ethics or values may be reflected
in laws or regulations, but ethical responsibilities are seen as embracing the emerging values and
norms that society expects of business even if not currently required by law. These responsibilities
can be thought of as things the corporation should do. These responsibilities are more difficult for
business to deal with as they are often ill-defined or under continual public debate. Ethical
responsibilities also involve the fundamental ethical principles of moral philosophy, such as justice,
human rights, and utilitarianism. The changing or emerging ethical responsibilities are constantly

pushing legal responsibilities to broaden or expand, while at the same time expecting businesss
ethical behaviour to go beyond mere compliance with laws and regulations.
Philanthropic responsibilities involve being a good corporate citizen and include active
participation in acts or programs to promote human welfare or goodwill. Examples are contributions
to the arts, charities, and education. Such responsibilities are not expected in an ethical or moral
sense, making philanthropy more discretionary or voluntary on the part of business even though
society may have such expectations of business.
Carroll views the pyramid as a basic building-block structure, with economic performance as
the foundation. At the same time, business is expected to obey the law, behave ethically, and be a
good corporate citizen. Although the responsibilities are portrayed as separate elements, in practice
they are not mutually exclusive; however, the separation aids managers to appreciate the different
obligations that are in a constant but dynamic tension with one another. For example, there are
particular tensions between economic and ethical responsibilities. In summary, Carroll views the
total social responsibility of business as involving the simultaneous fulfillment of the four
responsibilitieswhich, stated in pragmatic terms, means that the corporation should strive to make
a profit, obey the law, be ethical, and be a good corporate citizen.
There is resistance to this convergence of economic and social responsibilities. Managers who
incorporate social responsibilities into decision making are sometimes labeled as do-gooders who
are ignoring profits. There are segments of society that suggest there is nothing good about business
and that it cannot be ethical or concerned about social issues. It is argued that business should stay
out of social responsibilities, as it is often difficult to judge what is right or wrong and managers are
not prepared to make such decisions.
CONTEMPORARY CSR CONCEPTS
Corporate social responsibility is the terminology still widely used to represent business social
responsibilities. However, other terms have appeared that incorporate the consideration of economic
responsibilities as well, including corporate sustainability, reputation management, social impact
management, triple-E bottom line (TBL), and corporate citizenship, corporate accountability,
sustainability and corporate responsibility.
The issues that represent an organizations CSR focus vary by size (small, medium and large),
sector (for example, financial institutions, infrastructure providers, textile manufacturers, agriproducers, supermarket retailers, etc.) and even by geographic region. In its broadest categories,
CSR typically includes issues related to business ethics, community investment, environment,
governance, human rights, the marketplace and the workplace.
SIGNIFICANCE OF CSR

Better Public Image: Corporate Social Responsibility, current times dont allow for companies to
simply be in business for the sake of making a profit anymore. While consumers may rely on
corporations for goods and services, the level of competition allows customers to make decisions
based on several factors, including (maybe surprisingly) how much good a corporation is also doing
outside of the workplace. Many individuals today are basing their corporate loyalties on how
companies are positively impacting their community.
Better and More Media Coverage: Going along with how the public sees your corporation, the
amount of positive media coverage a corporation receives is extremely important for business. It
doesnt matter how much your company is doing to save the environment if nobody knows about it.
As they say, its okay to toot your own horn every once in a while. Make sure youre forming
relationships with local media outlets so theyll be more likely to cover the stories you offer them.
Fosters a Positive Workplace Environment: This section is short and simple because its just
common sense employees like working for a company that has a good public image and is
constantly in the media for positive reasons. Happy employees almost always equal positive output.
Corporate Social Responsibility How Nonprofits Benefit: Corporate giving programs, which
can include everything from matching gifts to volunteer grants; from team building volunteer efforts
to fundraising events. These types of programs, which vastly increase the public good that
corporations are doing, are vital to nonprofit organizations because of the great monetary and
volunteer implications.
Greater Time Commitments through Employee Volunteer Grant Programs: This kind of
socially responsible program is a win-win for both parties involved. Employees of corporations are
seen volunteering and donating their time to important causes in the community, and nonprofits are
receiving free time and volunteer work, which is essential the success of so many nonprofits.
CSR IN INDIA:
How does CSR relate to a country like India?
Mahatma Gandhi, the charismatic visionary leader who brought the cause of India's
independence from British colonial rule, was a person who in several respects was ahead of his time.
His view of the ownership of capital was one of trusteeship, motivated by the belief that essentially
society was providing capitalists with an opportunity to manage resources that should really be seen
as a form of trusteeship on behalf of society in general. Today, the world is coming round full circle
emphasizing this concept through an articulation of the principle of social responsibility of business
and industry. And this trend is no different in India either.
There are several bodies now emerging on the Indian scene that focus on issues of CSR. For
instance, the Corporate Roundtable on Development of Strategies for the Environment and
Sustainable Development - Business Council for Sustainable Development (CoRE-BCSD) of India
is a grouping of Indian corporates trying collectively and individually to build in sustainable
development concepts into their operations. Initiated by the Energy and Resources Institute (TERI),
CoRE-BCSD.
India includes some of the most innovative, some of the largest and also the most forward
looking organizations in the country. Subject experts from these corporates identify and
conceptualize projects. A team of industry members and TERI researchers then works to develop

appropriate solutions/strategies for use by the industry. Currently the Roundtable includes some of
the leading Indian corporates, such as:

The Associated Cement Companies Limited

Bharat Heavy Electricals Limited
Bharat Petroleum Corporation Limited
Century Textiles & Industries Limited
Gas Authority of India Limited
Gujarat Ambuja Cements Limited
Hindustan Lever Limited
Infrastructure Leasing & Financial Services Limited
ITC Limited - Paper Brands & Speciality Papers Division

Activities of CoRE-BCSD India:

Weekly email news (on environment and sustainable development) service called CoRE Clips.
Specific referral service, help desk and project work relating to energy, environment, CSR and
sustainable development.
Publication of a quarterly newsmagazine called EnCORE; theme-based publications include
Cleaner is Cheaper, Cases Compendium on Corporate Environmental Excellence, Business
Unusual: Proceedings of CEO Forum Citizens at Work: CSR compendium of companies
nominated for TERI CSR Awards.
Participation in meetings and workshops; for instance the Annual CEOs Forum to chalk out a
road map for its activities.
Annual steering committee meeting and CoRE BCSD, India quarterly meetings on a focal
theme.
CSR INITIATIVES AT TATA GROUP:

Tata Group is an Indian multinational conglomerate company headquartered in the Bombay

House in Mumbai, India. In terms of market capitalization and revenues, Tata Group is the largest
private corporate group in India. It has interests in communications and information technology,
engineering, materials, services, energy, consumer products and chemicals. The Tata Group has
operations in more than 80 countries across six continents and its companies export products and
services to 80 nations. The Tata Group comprises 114 companies and subsidiaries in eight business
sectors, 27 of which are publicly listed. 65.8% of the ownership of Tata Group is held in charitable
trusts. Companies which form a major part of the group include Tata Steel (including Tata Steel
Europe), Tata Motors (including Jaguar and Land Rover), Tata Consultancy Services, Tata Technologies,
Tata Tea (including Tetley), Tata Chemicals, Titan Industries, Tata Power, Tata Communications, Tata
Sons, Tata Teleservices and the Taj Hotels.
The group takes the name of its founder, Jamsedji Tata, a member of whose family has almost
invariably been the chairman of the group. The current chairman of the Tata group is Ratan Tata, who
took over from J. R. D. Tata in 1991 and is one of the major international business figures in the age of
globality. The company is currently in its fifth generation of family stewardship. TATA Group's 114
companies are held by its main Company Tata Sons and the main owner of this Tata Sons is not Ratan
Tata but various charitable organizations developed and run by TATA Group. Out of which JRD TATA
Trust & Sir Ratan Tata Trust are the main.65% ownership of Tata Sons which is the key holding
company of the other 114 Tata Group Company is held by various charitable organizations.

Some Of The CSR Initiatives Of Tata Group Include:

In 1912, Tata Group expanded their current CEOs concept of community philanthropy to be
included in the workplace. They instituted an eight-hour workday, before any other company in the
world. In 1917, they recommend a medical-services policy for Tata employees. The company would
be among the first worldwide to organize modern pension systems, workers compensation,
maternity benefits, & profit-sharing plans. In general, about 66% of the profits of Tata Group go to
charity and executives made it clear that they have no intention of leaving control to Wall Street.
CSR AT TATA STEEL:
The mandate given to the Tata Steel CSR team was to work for the welfare of the socially and economically
disadvantaged communities living in and around its areas of operation, including the mines and collieries serving the
plant. Over the years, its initiatives have encompassed provision of healthcare services, drinking water, rain water
harvesting, tribal development, relief and rehabilitation endeavors, income and employment generation, womens
health and education, awareness programmes on the ill-effects of drugs, alcohol and HIV/AIDS, and patronage to
sports and cultural activities.
The CSR programme is managed by three organizations Tata Steel Rural Development Society (TSRDS), Tata
Steel Family Initiatives Foundation (TSFIF) and the Tribal Culture Society (TCS). Of these, TSRDS assumes (and
uses) the lions share of Tata Steels services and resources, because of the sheer range and volume of its activities.
TSRDS also serves as an implementing agency for other international organizations engaged in socio-economic
development and empowerment initiatives. The two other organizations are newer and more focused in their specific
areas.
The Tata Steel CSR policy encompasses initiatives to conserve, sustain and renew the environment, to encourage
sustainable socio-economic development of the community and to improve the quality of life of the people living
in the areas in which it operates. In all their programmes, the organizations seek to engage the ultimate
beneficiaries of an initiative right from the conceptualization and planning stage to the implementation, with the
company playing the role of a catalyst eliciting positive change. The attempt is to get the people to act out of their
own convictions, and support them in their efforts to build a better future.
Says AN Singh, deputy managing director (corporate services), Tata Steel, Community development must have a
beneficial impact on the lives of the people, and should be sustainable. For this to happen, people need to accept
ownership of a project. The understanding of the word empowerment comes from enabling people to stand on
their own feet, and a step forward in this direction is to get those people to replicate it for the good of the next
community.
To ensure this, Tata Steel follows a participative model for its CSR initiatives, offering resources in the form of
expertise, guidance and direction. The community plays a significant role, right from the prioritisation of its needs
to the planning and the execution of the project. Once people begin to accept ownership of a project, they become
more enthusiastic about what will work, and aware of what will not. This commitment to the project means they
are far more likely to derive benefits from it, and look after it in the future.
This model has been very successful. In fact, just as Tata Steel has become a benchmark in the industry for its
business practices, its CSR programme too has been hailed as a benchmark. It has also been acknowledged as a best
practice leader in the area of corporate social responsibility since 1993.
Singh says, We have a 100-year-old legacy of working with the community. We have the experience of working in
different areas, different situations, and using different approaches to achieve our objectives. This has given us the
opportunity to fine-tune our processes and brought us where we are today. Other corporates, public sector
undertakings and NGOs often come to us to study our processes. We are very happy to share our learnings and to
learn from others, because we believe that if you network, you go a mile longer, and have greater reach.

Tata Steel doesnt shy away from collaborating with the government either. Singh avers, If we have a better delivery
mechanism than the government, and they have more funds than us, we should work together.
The greatest strength of the companys CSR activity is that it is looked upon as a business process, like any other, not
post-profit philanthropy. There is an annual business plan, with mid-, short- and long-term plans specified, thereby
encouraging the company to think in terms of sustainability. Singh says, When we spend
money, we either create an asset in terms of a building, pump, school, house and so on, or we
improve the quality of life through programmes on adult literacy, TB treatment, empowering women, etc. If money
spent does not create an asset or an improvement in the lives of the people, then the money is wasted.
It is this commitment that has gained Tata Steel the unstinting support and admiration of the grateful people of
Jharkhand and Orissa. The company has received numerous awards in recognition of its CSR endeavors, including
The Energy and Resources Institute Award, recognizing its corporate leadership for good corporate citizenship and
sustainable initiatives. It is also the only Indian company to have pledged to translate the Global Compact principles
on human rights, labour and environment into practice, and has been conferred with the Global Business Coalition
Award for Business Excellence in the Community for HIV/AIDS.
Singh now has plans to take community development initiatives even further. Going forward, he says, I see an
enlargement of our community development processes. I see them getting bigger, more accentuated and focused. As
we do well, wed like to do even more for the community. The team is now working on expanding its activities in
Chhattisgarh, where Tata Steel is putting up a Greenfield site.
Through its work in CSR and sheer perseverance, the Tata Steel team has proved its fidelity to the Tata Groups
enduring commitment to Improving the quality of life of the communities we serve.
Tata Steel Rural Development Society
Tata Steel Rural Development Society (TSRDS), established in 1979, has faithfully executed its mandate of
enriching the quality of life of the communities in which Tata Steel operates. Over the years, it has worked in
areas such as food, water and health and ensured empowerment to people whose lot has been otherwise abject and
pitiable. Today those people aspire and have access to things they scarcely dreamed of some decades ago.
The society has a special focus on income generation, health and hygiene and empowerment. It has established a
network of health stations and trained staff who act as providers of basic healthcare. TSRDS has offices in West
Bokaro, Noamundi, Jamadoba, Gopalpur and Sukinda, besides Jamshedpur.
TSRDSs efforts have led to the economic development of an area once classified as backward. Starting with 32
villages, it now covers over 700 villages in its programmes, including those surrounding Sukinda, Bamnipal and
Gopalpur. Its projects have included the developing of water sources, training farmers on improved agricultural
practices, promoting rural enterprise, infrastructure development to boost the village economy, encouraging
animal husbandry, promoting art, culture, sports and games. Some projects have also been in the area of
sanitation, water conservation, tube well installation and the enhancement of livelihood.
The infrastructure it has developed includes schools and hostels, community sheds, rehabilitation hutments, link
roads, culverts, etc, the absence of which pose a serious hindrance to rural development.
The Tribal Culture Society
The Tribal Culture Society (TCS) of Tata Steel has done outstanding work for the tribals of Jamshedpur and the
surrounding areas in Jharkhand. The society evolved from a pure company department for Adivasi affairs in 1974,
to a Tribal and Harijan Welfare Cell in 1984. In 1993, it assumed its present form as a non-profit organisation,
equipped with the expertise and financial resources to make a difference in the lives of marginalised tribal
communities.

The intention was extremely laudable since developmental concerns often have a way of neglecting indigenous
people. TCS was set up to ensure that the voice of the tribal community did not go unheeded. Empowerment of
the marginalized community was TCSs primary aim.
The society focuses on three important issues: education, improvement of livelihood opportunities and the
preservation of the ethnic identity of the tribal community.
At its basic level, education requires the creation of functional literacy within the community. Shakshar Samaj
uses the software developed by Tata Consultancy Services to teach people to read and write. RK Singh, honorary
joint secretary, TCS, says, We have shifted from using only computers to using flip charts and alphabet charts.
Currently learners are taught how to write in the Devanagari script. Plans are on to teach them the local language,
Santhali.
Programmes like the Jyoti fellowship and other coaching programmes have served to create a positive impact on
the lives of youngsters. SC/ST candidates appearing for the Trade Apprentice entrance exams are made to
undergo a six-month residential training programme to increase their capabilities. Similar coaching classes are
held for those wanting to appear for the civil services exam.
Family Initiatives Foundation
Tata Steels Family Welfare Programme began in the 1950s. Since March 2000, the activities are being carried out
under the Tata Steel Family Initiatives Foundation. It provides maternal and child health and family planning
services. It also works on adolescent reproductive and sexual health issues and has a care and support programme for
HIV/AIDS.
TSFIF believes that investing in a health system is the key to improve the quality of life of people and is
continuously striving for it, explains TSFIF head Shakti Sharma. The foundation operates in Jharkhand, Orissa and
Chhattisgarh.
TSFIF has six main focus areas:

Maternal and Child Health: TSFIF addresses family planning concerns through the use of communication
media. This programme has successfully destroyed prejudices created by myths and traditional beliefs. TSFIF
focuses on reproductive health services and creates awareness on spacing methods and family planning
options.

Adolescent Reproductive and Sexual Health: TSFIF has four projects

o Youth Access to Reproductive Health Services in India (YARS) provides high quality, comprehensive
reproductive health services to youth and adolescents and helps them to practice healthy sexual
behaviour.
o Strategies to Improve Adolescent Reproductive Health and Rights through Advocacy and Services
(SAHAS) seek to improve the sexual and reproductive health and well-being of adolescents.
o Apni Baatein is a school-based teen health programme that emphasizes value-based education. There
was a need for school students to have a platform where they could share their concern about values
and reproductive health. The project was born from this need, says TSFIF manager Dil ith Castleton.
The topics include effective communication skills, dealing with emotions and peer pressure,
understanding ones body, HIV/AIDS and personality development.
o RISHTA is an adolescent health project, in collaboration with the Tata Steel Rural Development
Society and the David and Lucile Packard Foundation.

AIDS awareness: Understanding the threat of HIV/AIDS, TSFIF realised the importance of integrating
HIV/AIDS programmes with RCH services. Screening tests for pregnant mothers were introduced along with
counseling and treatment for those infected.

Drinking water and sanitation: Nearly 2,000 tube wells have been constructed for a population of 3 lakh. At
least 2,000 toilets are constructed annually.

Eye care and cleft lip: More than 1,500 eye-related and 500 cleft lip and palate correction services are
provided annually.

Lifeline Express: This hospital on wheels has helped over 50,000 patients in Jharkhand, Orissa and
Chhattisgarh.

TSFIF also looks at livelihood concerns of the community through:

Watershed management: It trains villagers on water use, crop diversification, multicropping, hybrid farming,
maintenance of assets, etc.
Land and water management: It teaches villagers to adopt improved agricultural techniques.
Enterprise promotion: It trains villagers on financial management, entrepreneurship, etc through activities
such as goat rearing, poultry, banana cultivation, etc.

CSR AT TCS:
TCS also designed and donated an innovative software package that teaches illiterate adults how to read in 40 hours.
"The children of the people who have been through our literacy program are all in school", says Pankaj Baliga, global
head of corporate social responsibility for TCS. Tata adheres to a philosophy of providing some of the poorest people
in the world with products that improve their future (and those of their children) at values they can afford, while
maintaining enough profit to keep the company competitive.
The charitable trusts of Tata Group fund a variety of projects, for example the Tata Swach and the TCS project. They
founded and still support such cherished institutions as the Indian Institute of Science, Tata Institute of Fundamental
Research, the National Centre for the Performing Arts and the Tata Memorial Hospital. Each Tata Group company
channels more than 4 percent of its operating income to the trusts and every generation of Tata family members has
left a larger portion of its profit to them. This makes the Tata family evidently less wealthy as individuals than other
Indian family-owned companies. Green environment projects, donations, and charity are all examples of ways that
companies support their community. Ratan Tatas gesture after the 2008 Mumbai Attacks was humanitarian; he
supported many people in India.
He made sure that all the employees were treated on duty during the time the Taj hotel was closed; although the hotel
was closed, salaries were still sent by money order. About 1600 employees were provided food, water, sanitation and
first aid through employee outreach centers. Ratan Tata personally visited families of all the employees that were
affected. The employees relatives were flown to Mumbai from outside areas and were all accommodated in Hotel
President for 3 weeks and taken care of.
Going beyond taking care of their employees and dependents, Tata also covered compensation for railway employees,
police staff, and pedestrians. The market vendors and shop owners were given care and assistance after the attacks. A
psychiatric institution was established with the Tata Group of Social Science to counsel those who were affected from
the attacks and needed help. Tata also granted the education of 46 children of the victims of the terrorist attacks. The
whole approach was that the organization would spend several hundred Crore (Indian currency for $10 million) in rebuilding the property why not spend equally on the employees who gave their life?

CSR AT TATA MOTORS:

Tata Motors being the leading automobile industry in India bagged the Golden Peacock Award for the year 2004 for
its valuable contribution towards economic, community development and Corporate Social Responsibility. The initial
work started with the well being of the company employees, their living condition, health and education which later
turned to community well being through various Community Development Centers, Samities and Programmes.

CSR AT TATA CHEMICALS:

Tata Chemicals on the other hand is the largest inorganic chemical complex in the country that produces the highest
synthetic soda in the world and is well known for its world-class energy efficiency standard and had worked on
varied fields of environmental conservation, community development and safety.
The major success of Tata Chemicals is towards community development under the umbrella of Tata Kisan Kendras
(TKK's) and Tata Kisan Sansar (TSS). It had promoted Tata Chemicals' Society for Rural Development (TCSRD) for
the benefit of rural population by providing all sophisticated technologies like satellite mapping, geographical
information system (GIS) etc for selecting and using right kind of seeds from sowing to post-harvest stage. The
Kendras provides a wide range of services like: credits to the farmers, insurance of crops against natural disasters,
availing buyback facilities etc. These have resulted in economic stability of farmers.