Corporate Social Responsibility in Nepalese Commercial Bank with reference to Bank of Kathmandu Limited

Abstract

Corporate social responsibility (CSR) is all about companies managing their business process to produce the overall positive impact on the society. The interest for CSR has grown rapidly the recent years and people started to demand corporate social responsibility from the company. CSR is connected with corporate behaving ethically, morally and socially responsible towards the society. This research focuses on investigating why companies engage in CSR, how they apply CSR and how CSR can affect financial performance. It was found that the employees and the people in general do get motivated by their organization. All the respondents were very positive and energized about being part of the CSR activities provided with the opportunities. BOK Ltd has focused their CSR activities related with the health, education and environment with the name as BOK health, BOK education and BOK environment initiation. BOK has tried to cover the different aspect of essential factors in anyone’s life. Majority of the respondents’ views that CSR activities has the positive relation and can contribute on the financial performance of the company as it increases the good image and goodwill of the organization. CSR needs planning and proper implementation so that the society could actually have positive impact from CSR activities.In Nepalese context the organization do not emphasize in CSR activities rather they give priorities to earn more profit and flourish their business.NCC JournalVol. 3, No. 1, 2018, page: 90-99

Corporate Social Responsibility and Its Impact on Brand Building: Special Reference to Employees of Selected Companies in Nepal

“…The new industrial enterprise act entered in force as some of its provisions force small, medium and large industries with transactions over rupees 150 million to spend at least one per cent of their annual profits in CSR activities [8][9][10][11]. If they fail to do so, they will be subject to a penalty of 0.75 per cent of their annual turnover [8,12]. Similar provisions have been made in the laws governing banking and financial institutions [13].…”

“…When there is a degree of political stability, the government introduces new legislation, it is natural for investors to start exploring alternative destinations [6,17]. Nepal Rastra Bank (NRB) has also issued a circular for banks and financial institutions to contribute at least 1 per cent of their net profit to various CSR activities [8,12]. Some school of thought said CSR activities are sustainable only when done with the best interest of all the stakeholders [12,18,19].…”

“…Nepal Rastra Bank (NRB) has also issued a circular for banks and financial institutions to contribute at least 1 per cent of their net profit to various CSR activities [8,12]. Some school of thought said CSR activities are sustainable only when done with the best interest of all the stakeholders [12,18,19]. Marketawarded social responsibility for business is more guaranteed than the government-mandated one [20,21].…”

Awareness of Corporate Social Responsibility Related Activities of Different Company for Building Brands from Customer Perspectives in Nepal

“…In Nepal, social responsibility for good philanthropic work was influenced by religious belief and culture in Hindus and Buddhist religion [1]. People believe a wealthy trader of Bhaktapur cleared all debts of people of Bhaktapur and freed them from debt [2].…”

“…People believe the corporate sector can bring about meaningful differences in the lives of community people by conducting CRS activities in partnership with government organizations, NGO/INGOs, academic institutions or by establishing its own trust or foundation [8]. In Nepal, corporations like Ncell, Standard Chartered Bank, Mega Bank, Asian Paints, Nabil Bank, Yeti Airlines, Dabur Nepal, Buddha Airlines and some media houses claim to have started community development initiatives under their CRS [1]. But now, it is a time for every responsible citizen and the company must contribute to the country cause [9,10].…”