Sustainable Practices Across all scheduled Banks: An Anecdote from India

Abstract

Purpose: In the era of globalization and 21st century, the world is facing huge curtailment of greenery. Taking into account, the exceptional changes in environment due to global warming, it is now acknowledged that sustainable development is the need of the hour. This has thrown a light on the concept of Green Banking. At present, every individual in the society has become more responsive to reduce the further abasement in the quality of environment. In addition, the corporations and business houses have laid the cornerstones of altering their operations with a view to improve the condition of the environment. Green banking is a step taken by business houses in this regard. Green banking is the innovative way of banking in which banking operations are performed in such a way to lessen the external carbon ejection and internal carbon footprint.

Methodology: With a view to attain the objectives of the present study, secondary data has been used. Secondary data has been gathered from authentic sources.

Findings: The study was immensely required to be carried out, as it is discovered that Indian banks at present are taking very small steps for sustainable banking as in contrast to the foreign banks at the international level.

Originality: This study makes an effort to examine the scenario of sustainable banking in India and efforts taken by public and private banks of India, and foreign banks. The study examines the sustainable banking activities in India and other foreign countries. In the end, the study also recommended some suggestions to encourage green banking practices in India.