CORPORATE SOCIAL RESPONSIBILITY (CSR) EMERGED AS A CONCEPT DURING THE 1960s IN VIEW OF THE SOCIAL ACCOUNTABILITY OF THE INDUSTRIAL SECTOR WORLDWIDE. TO CONNECT ITSELF WITH THE PRESENT GLOBAL SCENARIO, INDIAN INDUSTRIES HAVE RECENTLY ADOPTED THE CONCEPT OF CSR. IN A DEVELOPING COUNTRY LIKE INDIA, BANKING SECTOR PLAYS A VITAL ROLE IN UPBRINGING THE ECONOMY OF THE COUNTRY NOT ONLY BY LENDING MONEY, ACCEPTING DEPOSITS OR INCREASING THE LIQUIDITY OF MONEY BUT PRACTICING BUSINESS ETHICS AND CULTURE BY ADOPTING AND IMPLEMENTING CSR PRINCIPLES IN THEIR TERRITORIAL BOUNDARIES. CSR IS THE CONTINUING COMMITMENT BY BUSINESS TO BEHAVE ETHICALLY AND CONTRIBUTE TO ECONOMIC DEVELOPMENT AND AT THE SAME TIME ENHANCE THE STANDARD OF LIVING OF THEIR WORKFORCE AS WELL AS SOCIETY AND ENVIRONMENT AT LARGE. THE PRESENT PAPER TRIES TO EMPHASIS ON VARIOUS INITIATIVES TAKEN BY THE BANKING SECTOR WITH RESPECT TO CSR PRACTICES AND ITS REPORTING ALONG WITH SUSTAINABILITY. THE MAIN PURPOSE OF THE STUDY IS TO EXAMINE THE CSR ACTIVITIES CARRIED OUT BY THE INDIAN BANKING INDUSTRY. THE STUDY IS BASED ON THE SECONDARY DATA FROM THE BANKS OFFICIAL WEBSITES FOR THE YEAR 2010-11 TO 2014-15. ON THE BASIS OF CONVENIENCE SAMPLING, 3 PUBLIC SECTOR BANKS, 3 PRIVATE SECTOR BANKS AND 3 FOREIGN SECTOR BANKS WERE SELECTED FOR THE STUDY. FOR THE PURPOSE OF CHECKING THE CSR INITIATIVES TAKEN BY THE BANKS, VARIABLES SELECTED FOR THE STUDY ARE SPONSORSHIP OF EVENTS, DONATIONS, EXPANSION OF BRANCH INRURAL AREAS, PRIORITY SECTOR LENDINGS, ENVIRONMENTAL PROTECTION POLICY, WOMEN EMPOWERMENT, NEW INITIATIVE FOR CSR, FINANCIAL LITERARY, EDUCATIONAL, AGRICULTURAL AND HEALTH POLICY. THE ANALYSIS REVEALS THAT THOUGH THE INDIAN BANKS WERE IMPLEMENTING EFFORTS INTHE CSR AREA BUT THERE IS STILL A LARGE GAP IN THEIR CSR POLICY AND REPORTING PRACTICES THAT REQUIRES MORE REGULATIONS. THE PUBLIC SECTOR BANKS HAVE OVERALL HIGHEST CONTRIBUTION IN CSR PRACTICES AND REPORTING. PRIVATE SECTOR BANKS TRIES TO ENHANCE THEIR REPUTATION BY IMPLEMENTING CSR ACTIVITIES IN THEIR BUSINESS PERFORMANCE AS A RESULT OF LISTING AGREEMENT UNDER CLAUSE 49 BUT FOREIGN BANKS ARE STILL LAGGING IN THIS AREA. THE STUDY ALSO REVEALS THAT AMONG THE REPORTING BANKS, SOME BANKS ARE CONVEYING FALSE DISCLOSURE AND MANIPULATING THEIR EFFORTS FOR SOCIO-ENVIRONMENTAL CONCERNS. MOST OF THE BANKS USE CSR PRACTICES AS A TROPHY IN THEIR MARKETING STRATEGIES AND IMPLEMENT IT IN AN AD-HOC MANNER ANDTHEY ALSO NOT CERTIFIEDTHE ACTUAL VALUE THEY SPEND ON THEIR CSR ACTIVITIES.