Promoting Environmental Sustainability: A Study of Green Banking Practices in the Modern Era

Abstract Objective This research study examines the current state of green banking practices in Indian banks, analyzing their compliance with the Reserve Bank of India’s (RBI) guidelines through qualitative analysis of annual reports and corporate social responsibility (CSR) activities. It aims to highlight India’s achievements in green banking, identify barriers to adoption, and provide recommendations for enhancing green banking procedures based on studies from advanced nations. Methods Qualitative analysis is used to evaluate RBI reports and CSR activities, assessing green banking practices. A comparative analysis of global green banking initiatives is conducted to understand innovation, strategies, and implementation. Practical Implications Findings and recommendations enhance green banking practices in Indian banks, emphasizing compliance, regulatory strengthening, innovation, collaboration, and public awareness. Originality of the Work Unique examination of Indian green banking, combining qualitative analysis, and tailored recommendations for a developing country. Results Indian banks have made commendable progress in implementing sustainable banking practices while adhering to RBI guidelines. The RBI provides uniform guidelines, and banks align their operations accordingly. However, challenges remain due to limited technology advancements and low social and environmental awareness in India. Conclusion Green banking has gained popularity globally and in India. Indian banks demonstrate commitment to sustainability but face challenges as a developing country. Recommendations include strengthening the regulatory framework, promoting innovation and technology adoption, fostering collaboration, encouraging financial inclusion with an environmental focus, and raising public awareness.