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With the rise in industrialization, there is a misuse of natural resources, a rise in the emission of harmful gases, deforestation, and global warming. So, it is the need of the hour that quick and effective measures must be taken to preserve the environment and ensure sustainable economic growth. As banks are the largest source of finance for various urban, and rural business ventures and industries, thus they can play a vital role in controlling the carbon footprint, which means the emissions of carbon dioxide in the atmosphere which has catastrophic effects on nature. The term Green Bank is new, but the concept goes back to the year 1980 when Triodos Bank was founded in the Netherlands. It had branches in Germany, Spain, the United Kingdom, and Belgium. The bank was known as an ethical bank as it believed in adding value to the environment with the use of eco-friendly methods. Green banking includes environment-friendly approaches to conduct different banking activities in an eco-friendly infrastructure. This study aims to focus on the Green Banking Initiatives- Infrastructure and avenues (processes, strategies, and products) adopted by Indian Banks (Public and Private Bank) and the advantages and challenges faced by the Indian Banks over the years. Suggestions have been provided to overcome the challenges.
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Desh Bhagat University,
Off to NH-44, Amloh Road, Mandi Gobindgarh,
District Fatehgarh Sahib, Punjab- 147301, India