Ishani Mishra, Student at KIIT School of Law, KIIT University
ABSTRACT
Sustainable banking practices have emerged as a recent development to tackle rapid climate change and global warming in the Country. Banking sector occupies a significant stake holder value in Indian economy. Hence, replacing the traditional banking practices with that of sustainable banking would maintain a eco-friendly environment and ensure long term economic growth.
With the increase in awareness and associated risk of reputation, many banks and financial institutions have opted for green banking practices in the form of mobile banking, online banking, solar ATMs and so on. The major benefit of such practices is the bank going paperless once it is technology oriented.
The present study attempts to analyse the approach of Indian banks and initiatives to attain sustainable development. Further, this paper discusses about the benefits and challenges that come along while implementation of new practices.
Keywords: Sustainable Development, Global Warming, Sustainable Practices, Green Banking
