Issue Details
GREEN BANKING AND FINANCING IN INDIA
Pinki Devi
Page No. : 59-65
ABSTRACT
In response to the pressing demand for financial resources while also addressing environmental concerns, the Green Banking and Finance movement was born. In the long run, green banking and green finance will benefit all sectors of the economy. "Green Finance" refers to the "organised financial activity that’s been designed to deliver a better environmental consequence," according to the Economic World Forum. Encouraging environmentally responsible behaviours is a part of this. These include online banking, paperless transactions, CDs and web accounts in money market, green loans and green credit cards; or finding the bank that is playing the most active role in supporting local green initiatives.. Today, green banking is a significant part of the financial industry. An inclusive approach to banking is recommended in order to secure significant economic growth as well as advancement in environmentally-friendly practises. This article focuses on the many Green Banking initiatives undertaken by Indian commercial banks and explains the rationale behind the adoption of this policy. Commercial banks’ green banking policies are also examined and compared in this article. On the subject of sustainable development, this paper examines Indian banks’ recent efforts and the obstacles they encounter as they execute them. Therefore, we propose various governmental measures and actions to encourage green banking and finance in India.
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