A STUDY OF GREEN BANKING AS AN INNOVATIVE TOOLS IN ENVIRONMENT SUSTAINABILITY

Green finance plays a pivotal role in achieving inclusive, resilient and cleaner economic growth by creating environmental benefits. Banking sector plays a decisive role in encouraging environmentally sustainable and socially responsible ventures. To support the reduction of carbon emissions, banking industry should finance green technologies projects. Electronic banking is not only responsible behind economic intensification but it also plays vital role in environmental protection. Main emphasis has been made on the concept and scope of green banking in India so as to make our environment human friendly and enrich our economic productivity. The present study therefore mainly explore the green initiatives and developments took place in the banking sector in India and sites international developments and showcases the various challenges in the area of green financing in India and also recommends measures to face those challenges. The study is descriptive in nature and is based on secondary data taken from various government reports published by the Government of India and other published reports of public and private sector organisations and banks in India.