CSR FOR SUSTAINABLE ECONOMIC DEVELOPMENT: ROLE OF BANKS IN PROMOTING INCLUSIVE GROWTH IN TENKASI

Abstract

Corporate Social Responsibility (CSR) has emerged as a critical driver of sustainable economic development, especially within the banking sector. Banks, through their CSR initiatives, play a pivotal role in promoting inclusive growth by extending financial services, empowering marginalized communities, and fostering social welfare. In emerging districts like Tenkasi, CSR practices of banks address pressing challenges such as financial literacy, rural development, women empowerment, and environmental sustainability. This study examines the role of banks in integrating CSR with developmental objectives to create a balanced framework for economic growth. It highlights how CSR initiatives go beyond philanthropy and contribute to long-term capacity building and financial inclusion. Using both primary and secondary data, the research analyzes the effectiveness of CSR programs in bridging socio-economic gaps. The findings are expected to reveal the extent to which banking CSR initiatives align with sustainable development goals (SDGs). The study also emphasizes the policy implications for strengthening CSR strategies in the banking sector. Overall, the research provides insights into how banks can act as catalysts of inclusive and sustainable development in Tenkasi District.