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Green Banking in India: A Sustainability Perspective

Vol 10 , Issue 1 , January - June 2023 | Pages: 141-161 | Perspective  

 
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https://doi.org/10.17492/jpi.manthan.v10i1.1012308

Published Online: June 05, 2023


Author Details ( * ) denotes Corresponding author

1. * Preeti Panse, Research Scholar, School of Management, Gautam Buddha University, Greater Noida, Uttar Pradesh, India (panse.preeti@gmail.com)
2. Dinesh Kumar Sharma, Assistant Professor, Business Management, Gautam Buddha University, Greater Noida, Greater Noida, Uttar Pradesh, India (da.dinesh@gmail.com)

In view of the depletion of greenery, it is imperative that businesses, including banks, take action to promote sustainability. Green banking involves the implementation of environmentally friendly policies and practices within the banking industry, that promote sustainable development. Banks in India are promoting energy-efficient buildings and providing loans for their construction. Green Banking is also about the promotion of electronic banking. Despite the progress made, banks in India still face challenges in implementing green banking practices. This article explores the concept and extent of green banking and examines recent sustainable development initiatives undertaken by banks in India and the challenges related to implemention. The basis of the research is the analysis of secondary data. The findings suggest a pressing need for increased awareness and adoption of green banking practices in current scenario, which is characterized by innovative technologies, in order to enhance sustainability and create a more environmentally-friendly future.

Keywords

Green finance; Green banking; Sustainable development; Green loans

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