Commercial banks Essay

ABSTRACTThis report is based on somatic fond responsibility. This project report contains the meaning of CSR which includes the advantage of CSR towards blaspheme, alliance, responsibility of corporate houses, objective of CSR, motive of CSR, responsibility towards guest. This document is all about multidimensional growth of nodes for which the bank liable for their service selling. This process leads to upliftment of people life. The banks are not bind to do so but the do these kind of activities for creating a goodwill wiz among their client which leads to growth in lifestyle of the overall society. This gives better environment to the society in which the bank is working. Hence, the present deliberate titled A field of honor ON EFFECTIVENESS OF CORPORATE SOCIAL RESPONSIBILITY TOWARDS CUSTOMERS OF COMMERCIAL BANKS IN MADURAI, has assumed greater significance.INTRODUCTIONCorporate social responsibility ( CSR, also called corporate conscience, corporate citizenship, social p erformance, or sustainable responsible business/Responsible Business) is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulation mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. CSR is a process with aim to embrace responsibility for the banks actions and elevate a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere who may also be considered as stakeholders.STATEMENT OF THE choreBanks play an active role for the economic development of any country. In a present competitive environment bank needs to retain its customer for effective development in any sector. Hence there arises need for corporate social responsibility then only it will leads to development of society as well as growth in bank sector. The present study aims to know the effectiveness of CSR in commercial banks with special reference to Madurai. In this context following questions arises.To measure the level of social obligationTo measure the level of effectiveness of corporate social responsibility towards customers of commercial banks.OBJECTIVES OF THE STUDYTo study the effectiveness of corporate social responsibility towards customers of commercial banks.METHODOLOGYThe present study is an empirical one based on the survey method. First pass away data was collected from the field through interview schedule. Data relating to various customers of commercial banks in Madurai was gathered through interview schedule. The schedule structured was extensively pretested. The survey envisaged the application of convenience sampling. Thus a sample of 300 respondents was decided upon nature of the commercial banks in Madurai. The survey was conducted during 2012-2013 in commercial banks from pronounce Bank of India, Indian bank, Canara Bank, Karurv ysya bank, HDFC bank, Axis bank, ICICI bank in Madurai.ANALYSIS & INTERPRETATIONGARRET RANKINGGarret downrighting is used to find out the rank for respondents opinion towards the enhancing customer jimmy for public sector, private sector, and New generation banks. look IRanking given by respondents opinion on enhancing customer value dining table 1RANKING OF RESPONDENTS opinion towards enhancing customer value.S.No.AttributesRankTotal123451.Sharing bank details18662311293002.Comfortable01205248803003.Time management000182823004.Man management15157652703005.Filling forms22120539213300Source Primary DataStep II The assigned ranks by the respondents were born-again into percent nonplus value by the formula given below. For each percent position, Using Garretts table, corresponding Garretts table value is obtained. principlePer cent Position = 100 (Rij 0.5) / NjRij = Rank given for the ith variable by the jth respondent Nj = Number of variables ranked by the jth respondent.GARRETT S TABLE VALUERanksCalculationPercentageGarretts Table ValueI Rank=100*(1-0.5)/5= 10= 75II Rank=100*(2-0.5)/5= 30= 60III Rank=100*(3-0.5)/5= 50= 50IV Rank=100*(4-0.5)/5= 70= 40V Rank=100*(5-0.5)/5= 90= 25Source Computed data.Step IIIScores are obtained with reference to Garretts Table value, and each percentage position value is converted into scores. Here each aggregated ranks are multiplied with corresponding the Garretts value obtained in the table.AGGREGATED RANKSSl. No.AttributesRank123451.Sharing bank details13950372015508402252.Comfortable072002600336020003.Time management000126070504.Man management1132534203250189005.Filling forms1650720026506440325Source Computed data.Step IVSummation of the scores is worked out for each rank column and means scores calculated by dividing the total score by the numerate of respondents. Finally, overall ranking is obtained by assigning ranks 1, 2, 3 in the descending order of mean score.OVERALL RANKING for respondents opinion on enhancing c ustomer value S. No.ReasonTotal ScoreAverageRank1.Sharing bank details2028567.6I2.Comfortable1526050.53IV3.Time management831027.7V4.Man management1988566.28II5.Filling forms1826560.89IIIINFERENCEIt is observed from the table Sharing bank details has been ranked as the first for the Man management has been ranked second, Filling forms tercet position, followed by Comfortable in fourth rank with Time management ranked as the fifth that influences the respondents opinion on enhancing customer value the in banksCONCLUSIONAlthough creating customer satisfaction is not a prime motivation for instituting corporate social Responsibility programs , research linking CSR strategies with positive customer outcomes, such as loyalty, has led to the expectation that these strategies generally cede positive flow-on effects for customers. Banking industry surveys have led to the identification of a mismatch in the midst of consumer satisfaction levels and massive spending on CSR programs. Furthe r research is warranted. In view of research suggesting that retail banking customers prefer initiatives that create direct customer benefits compared to those that have broader social impacts. To conclude the CSR activities in all the three study banks are not effective. It is proper time on their to promote CSR related activities.