Green banking in India: A study of various strategies adopt by banks for sustainable development
Dr. Veena Soni
In this present scenario of globalization, as we passthrough 21st century, one thing that we miss very badly is the depletion of greenery. As everybody in this society is becoming more and more concerned and worried about the natural environment, business organizations and corporations have started modifying their working in an attempt to increase greenery to the maximum possible. Green banking means combining operational improvements, technology and changing client habits in banking business. It means promoting environmental-friendly practices. This comes in many forms such as – using online banking instead of branch banking; paying bills online instead of mailing them; opening up CDs and money market accounts at online banks, instead of large multi-branch banks; or finding the local bank in the area that is taking the biggest steps to support local green initiatives. Main emphasis has been made on the concept and scope of green banking in India so as to make our environment human friendly and enrich our economic productivity. This study also covers the recent developments are made by Indian banks for sustainable development and challenges faced by banks in implementation. The research is based on the secondary data. Coming to the findings, there is utmost need to create awareness, implement and follow green banking as much as possible in today’s business world of innovative technologies so as to make our environment human friendly and enrich the sustainability.