" A Comparative Study on Green Initiatives Taken By Select Public and Private Sector Banks in Mumbai " (original) (raw)

Green Banking -A Study on Contribution of Technology towards Green Banking

Sustainability in Environment is one of the major problems in the present Materialistic, Modern World. The Development in the Economy leads to growth in the Nation, but on the other hand we are not considering the effects of the rational utilization of the Natural Resources.The Cause of Global Warming is due to the excess cut down of trees and building multistoried buildings all over (i.e. based on mans requirement). Hence reduction of Carbon Foot print of Individual is less. Where inverse it’s increasing day by day.Banking Sector is one of the major agents for overall industrial activities and has majorly contributed for economic growth. So, the Banking sector has taken an initiative for the reduction in the usage of papers through use of proper technology which in return reduces the carbon foot print of the Individual.

Green Banking-A Revolution in the Banking Industry

International Journal of Management Research and Social Science, 2020

Banking is a key service sector in India. Banks have very important role in the development of economy. It contributes its income to the economy in the form of increased Gross Domestic Product. Modern banking is also concentrating on the protection of environment as a CSR initiative through its Instrument called Green Banking. Green banking is the process of reducing internal carbon foot prints and external carbon emissions with a concern over reducing the depletion of natural resources. This paper concentrated on elaborating the initiatives of Green banking of banking sector. The study used descriptive method. It is found that the banks in India are well equipped with Green banking instruments and most of the customers are adopting it. And also benefits of green banking are highlighted.

Green Banking: An Innovative Initiative for Sustainable Development Lalita Kumari (Student)

Climate change is the most complicated issue the world is facing. Across the globe there have been continuous endeavors to measure and mitigate the risk of climate change caused by human activity. Many countries the world over have made commitments necessary to mitigate climate change. India has committed to cut its domestic carbon intensity by 20-25 percent from 2005 levels, by the year 2010. As socially responsible corporate citizens (SRCC), Indian banks have a major role and responsibility in supplementing government efforts towards substantial reduction in carbon emission. Although banks are considered environment friendly and do not impact the environment greatly through their own 'internal' operations, the 'external' impact on the environment through their customers activities is substantial. The banking sector is one of the major sources of financing industrial projects such as steel, paper, cement, chemicals, fertilizers, power, textiles, etc., which cause ma...

BANKING AND ENVIRONMENTAL CONCERNS:A STUDY ON CUSTOMERS’ AWARENESS AND PREFERENCE ON GREEN BANKING

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 eco-friendly activities. 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 and service innovations 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. 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. The paper gives an insight into the green banking activities of the Indian banking institutions and the awareness level of customers on these initiatives and their preference on these green banking activities. Key Words:Green Banking, Customer, Awareness and Preferences.

The use of eco-friendly technology and green methods to bring down the carbon footprint by indian banks

The main objective of the paper is to find out whether the selected Indian scheduled banks are using Eco-Friendly Technology and Green methods to bring down the carbon footprint or not. The paper discusses the various eco-friendly methods & technologies that the banks can use to bring down the carbon footprint and contribute in their own way towards the environment, therefore the objective of the research work is also to find out whether the selected 16 Indian scheduled banks, chosen after using stratified sampling based on turnover of banks & then randomly selecting a bank from each strata, are using Eco-Friendly Technology and Green methods to bring down the carbon footprint or not. The data is also collected from related articles and from published research papers and uploaded related published research papers, related project reports and case studies, books and magazines, news and news paper articles etc. and GAP Analysis Worksheet is prepared comparing the current state with the desired state. The study indicated that the leading Banks are the only ones to have taken initiative to use Eco-friendly Technologies as part of the bank’s corporate social responsibility in cutting down the carbon footprint.

GREEN BANKING -AWARENESS ON DEVELOPING PLANS IN PUBLIC SECTOR BANKS FOR FUTURE ENVIRONMENT

Transstellar Journals, 2019

Biodiversity is the diversity of resources, where human beings are majorly dependent on natural resources. This concept is gaining momentum, as there no proper utilization of natural resources by mankind. Green banking is a concept which provides a number of ways to conserve natural resources in the banking industry. Green baking means promoting environmental-friendly practices and reducing our carbon footprint generated through activities which may have contributions from the banking events. It also means promoting activities of the banking clients who are in industrial or commercial activities which do not extract more from the planet than they put back in. The study done by the authors indicated that green banking not only involves updating of latest technology, but it also involves other factors such as green mortgage and providing loans for improvement of environment. Through the study, the authors also observed that the Green Banking concepts help to support in bringing down the Global Warming directly and also indirectly: directly by using less papers and indirectly providing loans for those industries which support and aid environmentally sustainable development and in the usage of renewable sources of energy

Impact of Green Banking Strategy on Paper Based Instruments in Banking 1

Scope, 2024

In 21 st century most important factor that surrounds the human society is environment. To have a good and healthy living, environment plays a crucial role. Even the thinking of human beings can be altered based on content of oxygen and carbon dioxide in the environment. As human beings have started settling and developing, human civilization is moving from physical organizations to non physical organizations. In this regard, economy is also moving on the same path. Under the economic parameters, Happiness Index is very important. This index measures the contentment of Abstract: Green Banking is the need of hour and its importance lies from the fact that the world is moving towards digitalization. Asdigitalization is taking its pace, paper based instruments are being used very less. Due to less use of paper based instruments in banking sector, banks have initiated using Green Banking Strategy. One of the green banking strategies is utility of electronic mode of doing transactions. This will help in making the banking transactions at ease. Utility of electronic mode in banking will help in reducing the burden of manufacturing paper to a greater extent. This extent would help in reducing the deforestation and would boost the strategy of green banking. Green banking would help in recovering the environmental problems to an extent. In this regard, utility of electronic transactions would help in strategizing the Green Banking. After the initiation of Green Banking strategy whether the impact has been created or not has to be checked. This paper deals with study on what was the impact of green banking strategy on paper based instruments where green banking strategy means less utility of paper based instruments and more utility of electronic mode of banking operations.

Green Banking-Green Marketing-Green Environment

International Journal of Research in Commerce and Management, 2014

Though industrialization and developmental activities has provided all comfort and luxury to human beings it has done so at the cost of our environment. Indian industry today strongly faces the challenges of controlling environmental impact of their business i.e. reducing carbon footprint. The degrading environment has raised many questions before the learned group and has demanded for urgent action or else their own survival will be at stake. Businesses have grown exponentially ignoring the environment and the social part in the society the world over and India is no exception. Business are the prime area where green philosophy needs to be appreciated and implemented for providing stability to the society and the environment alike. In this respect banking sector can play a very crucial role in promoting environmentally sustainable and socially responsible investments. The responsibility of protecting the earth now lies in the hands of every individual and businesses. There exist a ...

Green Banking: The Trend of Maintaining Sustainability of Environmental Business

Global Review of Islamic Economics and Business

Various countries are currently facing the degradation of energy resources, natural resources, and environmental pollution. As the party providing financing, banks must participate in reducing environmental damage. Based on interviews conducted with 30 customers who use financing services in banking, the results show that: financing obtained from banks is used for business capital financing, which includes businesses: food stalls, catering, grocery stores, workshops, and expedition services. Based on the interview results, the fact that these businesses have not implemented the concept of an environmentally friendly business is also obtained. This type of research is qualitative research. The data sources for this study were 32 BSI customers in the Central Java region. The findings indicated that 32 respondents of BSI in the Central Java Area are already familiar with green banking. However, when it comes to e-banking, only 37.5% of respondents were aware of green banking. Up to 56....

Green Banking Practices of State Bank of India – Some Insights

Asian Journal of Economics, Business and Accounting

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 ...