GREEN BANKING IN INDIA

Abstract

Change is the need of hour for survival in all spheres .Global warming, also called as “Green House Effect” is a global issue that calls for a global response.  The world has seen much focus on economic progress and mankind has made giant steps in its journey through time.  Today’s business is all about being green. From Wal-Mart to Apple, everyone is talking about how green their approach, packaging, or methods are. But green business is really in its infancy, and the future of being green will no doubt distill  down to some very real and definable goals and practices. Banking sector is one of the major sources of financing investment for commercial projects which is one of the most important economic activities for economic growth. Green Banking is a concept in which banks are making an effort to restore the natural environment and to make the industries go green. Green banking means promoting environmental friendly practices and reducing carbon footprint from banking activities. It will not only ensure greening of industries but it will also facilitate in improving the asset quality of banks in future. Businesses in India are turning green due to public pressure and government regulation. Besides attracting capital investment, green companies have realized that waste management and pollution control have their own benefits. So, to substantiate quality of service, implementation of environmental conservation measures, support to deprived section of society, and concern about quality of life, nature are the basic principles that financial institutions are relying on in their business strategies in recent years. This paper covers introduction, importance of green banking, green banking initiatives, environmental management by banking institutions, and enforcement of environmental management and role of government and green banking strategies.

Keywords: Green Banking Initiatives, Environmental Protection, Green Banking, Green House Effect Online - Banking, RBI, Global Warming.