Green Banking Practices on Environmental Strategies with Reference to SBI

Abstract

In the present scenario of globalization as we pass through the 21st century one thing that we badly miss is the depletion in greenery with rapid rise of the emissions in the atmosphere .As everybody in the society is becoming more and more concerned about the environment, business organisations and corporations have started readdressing their concern and responsibility towards the restoration of environmental quality in an attempt to conserve biodiversity. quotGreen Banking is an emerging concept borne out of this and essential means of combining operational improvements, technology and changing clients habits in banking business. It is also means promoting environmental-friendly practices and reducing carbon footprints, resultant from banking activities. Although banking activities are not physically related to the environment, yet it is an external impact of the customers which is substantial for them. To reduce the carbon footprint from the environment substantially, it is required by banks to promote those products, process and technology which adhere to it. newlineThe concept of Green Banking or Ethical Banking or Green initiatives taken by banks aims to protect the environment by means of promoting environmental-friendly practices and reducing the carbon footprint from banking activities. Environmental friendly practices include introduction of Green Products and Services, namely, Online Banking, Mobile Banking, Banking through ATMs, Green Deposits, Green Mortgages and Loans, Green Credit Cards, and Green Reward Checking Accounts. A carbon footprint measures the amount of CO2 released into the environment by an organisation. Banks can reduce their carbon footprints by adopting the certain measures like paperless banking, energy consciousness, using mass transportation system and use of solar and wind energy. newlineThe present study is aimed at determining the benefits of Green Banking, and assessing the awareness, familiarity, their satisfactional level and the problem faced by the customers in adopting green banking