The problem related to environment, maintaining the ecological balance and environmental sustainability has become issues for debate around the globe. The organizations as well as consumer have understood the importance of the environment for the survival of human beings.
Banking sector plays an important role in the economic growth of a nation. As the banks are among one of the major sources of financing instrument for commercial projects so they can play a major role in promoting environmental sustainability by funding the socially and environmentally responsible investment projects. The concept of Green banking is comparatively a new concept. It is a paperless banking, which not only reduces the cost of banking activities but also helps in environment sustainability. It helps in reducing the use of paper, power and energy. The main objective of this paper is to know about the role of green banking in environment sustainability in Indian public sector banks and conduct a SWOC analysis about the banking sector regarding green banking activities.
Analysis says that there are much initiative in this regard by the banks in India though they play an active role in India‘s emerging economy. Some initiatives taken banks like Avoids Paper Work, Creating Awareness to Business People about Environment, Online Bill Payments, Net Banking etc Therefore, we suggest possible policy measures and initiative to promote green banking in India.
Prof. Kadambini Kumari,
Indira School of Business Studies, Pune