Green Banking: A Conceptual Study on its Issues, Challenges and Sustainable Growth in India

ABSTRACT Every social and global issue is a business opportunity just waiting for the right kind of inventive Entrepreneurship, the right kind of investment, the right kind of collective action. Peter Drucker The paper renders the green banking practices in India. Society is facing most byzantine issues of climate change. Change is the need of hour to for endurance in all spheres. So change is the need of the hour for the endurance and unbroken exertions which should be made for the environmental management in a sustainable manner. Sustainable enlargement can best be accomplished by consenting markets to work within a fitting framework of cost proficient conventions and pecuniary instruments. The banking industry can play an owing role between economic progression and ecofriendly shield for endorsing environmentally sustainable and socially viable institution. The banking of this benevolence can be termed as "Green Banking". Green Banking denotes to the banking business steered in selected area and technique that helps the inclusive lessening of external carbon emission and internal carbon trail. The objectives of this paper is to conceptualize the concept of green banking which has gained prominence post 2009 and focus on the green rating standards given by RBI. In addition the paper highlights the World Bank’s environmental and social norms, the ingenuities taken by public and private sector banks in India in the espousal of Green Banking practices and to enlist the strategies for adoption of Green Banking. The paper focuses on the current practices and the gaps in the same in relation to green banking practice.