Page 344 - IMDR JOURNAL 2023-24

IMDR’s Journal of Management Development & Research 2023-24

Innovative Approaches to Education for Sustainable Development:
Lessons from Kotak Bank’s CSR Programs towards Viksit Bharat 2047

Rucha Dokhe* and Pritha Ubgade**

* Student, PGDM, IMDR, Pune, Maharashtra, India (E-mail: rucha11dokhe@gmail.com)
**Professor, IMDR, Pune, Maharashtra, India (E-mail: pritha.ubgade@imdr.edu)

Abstract

Corporate Social Responsibility (CSR) has become increasingly integral to modern business
strategies, reflecting a commitment to addressing social and environmental challenges while

simultaneously enhancing business value. This study examines the impact of Kotak Mahindra
Bank’s CSR programs in rural areas, with a focus on education and livelihood projects for

economically disadvantaged populations. Using secondary data extracted from Kotak Mahindra

Bank’s official website and financial statements over the last five years, the study examines CSR
budget spending trends and the bank’s alignment with the United Nations Sustainable

Development Goals (SDGs), with a focus on Quality Education (SDG 4). Kotak Mahindra
Bank’s CSR efforts take a diverse approach, aiming to improve learning outcomes, promote

higher education, develop entrepreneurship, improve livelihoods, and provide education and

skill-building opportunities for people with disabilities and youth. Kotak Mahindra Bank has
spent INR 265 crores on CSR efforts, making significant contributions in social development

programme.

These activities have had a significant impact on over 61,000 children through formal education
support and over 13,800 teenagers through upskilling programs, with 1,625 specifically

benefiting from skill development initiatives for people with disabilities. Furthermore, the study

demonstrates how Kotak Mahindra Bank’s CSR programs appeal to customers seeking ethical
enterprises, promoting advocacy, loyalty, and stronger relationships with investors and

communities. The bank’s dedication to sustainability, healthcare, and education projects has not
only enhanced its organizational base but has also resulted in new commercial prospects and

excellent media coverage. These findings highlight the importance of CSR in improving
corporate reputation, attracting top talent, and promoting long-term economic success. Overall,

this study provides valuable insight into the impact and effectiveness of Kotak Mahindra Bank’s

CSR programs, shedding light on the transformative power of corporate social responsibility in

generating positive social change and sustainable development. As businesses acknowledge the
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