Role of Public Sector Banks in Advancing Sustainable Development Goals in India: A Review of Green Banking Initiatives

Public Sector Banks (PSBs) play a pivotal role in India’s financial system and act as key instruments for implementing national development priorities. In recent years, the integration of sustainability principles and green banking initiatives by PSBs has gained prominence in the context of achieving the United Nations Sustainable Development Goals (SDGs). This review paper synthesizes existing literature on green banking initiatives undertaken by Indian PSBs and examines their contribution to environmental sustainability and inclusive development. The paper also analyzes policy frameworks, implementation challenges, and future directions, highlighting the strategic role of PSBs in advancing India’s sustainable development agenda.