Healthcare Development in India through CSR Initiatives of Private Sector Banks

Abstract

Corporate Social Responsibility (CSR) has become an important way for private banks in India to support public health, especially where the system struggles with access, affordability, and basic infrastructure. This article looks at how three large private banks-HDFC Bank, ICICI Bank and Axis Bank-have used their CSR programmes to support healthcare development. The analysis depicts that the banks have. financed numerous activities such as preventive health care, mobile health clinics, pandemic related support and health infrastructure, yet their investment in health financially. has not been steady over time. They use annual reports as a secondary source of information, CSR statements and other industry. This study follows the trend of spending on health-related CSR during the period 2016-2023, as the sources are provided during this period. review nature of the programmes being undertaken. HDFC Bank spends the most of the three. ICICI Bank and Axis Bank are the next in line and exhibit a significant degree of health-oriented CSR, but all of them still do. year-to-year variation. The outbreak of COVID-19 was bringing a temporary surge in health. expenditure especially in the area of vaccination, medical equipment and digital channel of service. delivery. Concurrently, the review identifies such issues as complex as persistent. rules, small project cycles, ineffective impact evaluation and poor co-ordination with implementing partners. These have much room to be reinforced, as argued in the paper. investments, more intensive partnership with the state, stronger community. involvement and increased utilization of technology-empowered models of health. By doing so, private banks can align their CSR portfolios more closely with national health priorities and the objectives SDG 3 on Good Health and Well‑Being