GREEN BANKING: AS BANKS INITIATIVE FOR SUSTAINABLE DEVELOPMENT

Green Banking means ensuring environment friendly practices in banking sector and thereby reducing internal and external carbon footprints. In India the first green bank is the State Bank of India(SBI), India's largest commercial bank, which took initiative in setting high sustainability standards and completed the first step in “green banking” with shri O.P. Bhatt, chairman, SBI Inaugurate the bank's first wind farm project in Coimbatore. The green bank initiative which includes ATMs, paperless banking for customers and building of wind mills in rural India. Green Banking covers two aspects. The first one being judicious use of all resources, energy and reducing carbon footprints and second being encouraging and financing only environment friendly investment. So Green Banking is not only about making sustainable use of resources but also about environment friendly dispensation of credit. This paper mainly focuses on role of banks initiative for sustainable development in green banking.