Corporate Social Responsibility (CSR) is a concept states that organization has a responsibility towards the society for their operations. CSR considered as a further step to improve the quality of life for their stakeholders as well as society at large. It means companies have to satisfy their shareholders and also managing the expectations of the stakeholders such as employees, consumers, suppliers, government and community at large.
According to Bowen, “Corporate Social Responsibility refers to the obligations of the business- to pursue those policies to make those decisions or to follow those lines of relations which are desirable in terms of the objectives and values of our society”. CSR is also describe as the Corporate “ triple bottom line” – the Totality of the Corporation’s financial, social and environment performance in conducting its business. In the changing scenario, globalization, human rights, ethical consumerism all these are heat the CSR concept and helpful to enhance the corporate image and brand value of the company. There should be transparency and truthfulness in working of the company. India has a long tradition in the field of CSR. In the last decade, CSR has rapidly involved in India with some companies focusing on strategic CSR initiates to contribute towards national building. Government has also made provisions related to CSR. According to New Company Act, 2013 Corporate must contribute 2 % of their net profits towards CSR which made Indian companies to consciously work towards CSR activities. The present study has been an attempt to consider many key challenges along with various initiatives taken in the field of CSR.