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Green Banking is an umbrella term referring to practices and guidelines that make banks sustainab... more Green Banking is an umbrella term referring to practices and guidelines that make banks sustainable in economic, environment, and social dimensions. It aims to make banking processes and the use of IT and physical infrastructure as efficient and effective as possible, with zero or minimal impact on the environment. (IDRBT Publication August, 2013).Green banking is making technological improvements, operational improvements and changing client habits in the banking sector. It is a smart and proactive way of thinking with a vision of future sustainability. Banking activities are not physically related to the environment, but the external impact of their customer activities is substantial. The study aims to explore existing literatures about Green banking. Secondly, to know about such initiatives taken by top leading select banks from Public and Private sector to promote those products, process and technology which substantially reduce the carbon footprint from the environment. The study has taken select top leading banks like ICICI, HDFC and AXIS from Private sector and SBI, PNB and BOB from Public sector in Mumbai (as per BSE and NSE and also as per annual reports of 2013-14) Also, to compare whether select Public banks is more active or select Private sector banks and Lastly, to know the latest steps taken by RBI for promoting such products. " Banks and financial institutions can play a major and decisive role in these global efforts to make our planet a better place to live in. As providers of finance, banks can ensure that businesses adopt environment-friendly practices. Incentives by way of offering cheaper funds for adopting green technologies will have a long term beneficial impact on the environment. As major implementers of technology, banks themselves can adopt green practices and thereby lead the way in this global initiative. Also, product innovation and leveraging on the use of technology enable banks and their customers today to reduce the usage of resources such as paper, thereby aiding in environmental protection " .
Green Banking is an umbrella term referring to practices and guidelines that make banks sustainab... more Green Banking is an umbrella term referring to practices and guidelines that make banks sustainable in economic, environment, and social dimensions. It aims to make banking processes and the use of IT and physical infrastructure as efficient and effective as possible, with zero or minimal impact on the environment. (IDRBT Publication August, 2013).Green banking is making technological improvements, operational improvements and changing client habits in the banking sector. It is a smart and proactive way of thinking with a vision of future sustainability. Banking activities are not physically related to the environment, but the external impact of their customer activities is substantial. The study aims to explore existing literatures about Green banking. Secondly, to know about such initiatives taken by top leading select banks from Public and Private sector to promote those products, process and technology which substantially reduce the carbon footprint from the environment. The study has taken select top leading banks like ICICI, HDFC and AXIS from Private sector and SBI, PNB and BOB from Public sector in Mumbai (as per BSE and NSE and also as per annual reports of 2013-14) Also, to compare whether select Public banks is more active or select Private sector banks and Lastly, to know the latest steps taken by RBI for promoting such products. " Banks and financial institutions can play a major and decisive role in these global efforts to make our planet a better place to live in. As providers of finance, banks can ensure that businesses adopt environment-friendly practices. Incentives by way of offering cheaper funds for adopting green technologies will have a long term beneficial impact on the environment. As major implementers of technology, banks themselves can adopt green practices and thereby lead the way in this global initiative. Also, product innovation and leveraging on the use of technology enable banks and their customers today to reduce the usage of resources such as paper, thereby aiding in environmental protection " .