BANKING AND ENVIRONMENTAL CONCERNS:A STUDY ON CUSTOMERS’ AWARENESS AND PREFERENCE ON GREEN BANKING (original) (raw)
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International Journal of Research and Analytical Reviews, 2019
Green banking is different from the normal banking system in the sense it updates itself from the traditional mode of working with a view to supporting environmental consideration. Lack of a suitable number of specialized programs is the foremost reason for people not being aware of its importance. No separate training and awareness programme has been conducted for their customers to operate the green banking system. The commercial banks are facing a lot of challenges in controlling environment impact on their business rather than new generation private banks. The role of the banking sector which is on major financing sources to the industries assumes high importance. Further, the RBI do not clearly speak about the specification of rules that can hold banks responsible for scrutinizing investment project before financing and for environmental protection. However, there are some indirect suggestions from them to the branches to take initiatives of their own to take steps for safeguarding the environment. The main problem is that not only the customers but also the banks themselves are not adequately aware of the concept of the green banking system. Of course, the RBI promotes the concept of GBS, but there is some lacuna in its implementation. This gives way to the branches to conclude that there will be no action against them if their guidelines are not adhered to. The majority of the banks simply follow the suggestions they receive from the head office and implement things that are suggested by the head office and nothing more. The banks are ready to procure loans for environmentally sustainable projects like the renovation of the building, eco-friendly businesses, installing a solar system, less use of energy business, etc., Though the banks encourage the customers to take the environmentally sustainable projects, the customers evince the least interest in them. This paper highlights the importance of Green banking practices in the study area.
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Green banking refers to a set of banking procedures that attempts to preserve natural resources and save the environment while taking into consideration all social and environmental concerns. State Bank of India, the largest public sector bank in India is putting its humble efforts in reducing the carbon footprints by eliminating the paper printout work to the maximum extent possible. Deploying solar power systems in the bank as well as ATMs, encouraging the customers to use internet banking, extending loans towards green initiatives by corporates etc. are few to mention out of many. The present study is chosen with an objective of studying the green banking practices of SBI. The study has been carried out by administering a structured questionnaire among 400 Hyderabad based State Bank of India (SBI) customers and analyzed with the help of suitable statistical tools. An attempt is made to examine whether customers are aware of green banking products and services or not, it is also ...
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International Journal of Scientific and Research Publications, Volume 9, Issue 6, June 2019 148 ISSN 2250-3153, 2019
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