Green Banking: A Step towards to Paperless Economy

Green banking refers to the banking business managed in such a manner that helps for overall reduction of external carbon emission and internal carbon footprint. The present study attempts to understand the use of Green Banking Products in banking sector and examine the green banking initiatives towards to paperless economy. Today’s Climate change is the most complicated issue the world is facing. In this era, the world has seen much focus on economic progress, the side effects of this, has resulted in environmental damage. The banks can play an important role in economic growth and environmental protection. To save the environment the banking sector introduces the “Green Banking”. It is paperless banking, which not only reduces the cost of banking activities, but also helps in environment sustainability. To reduce the external carbon emissions, the bank should finance green technology and pollution reducing projects. Green banking is a part of the green initiative taken by the banking sector to save the environment. This paper has attempted to highlight the importance, challenges and benefits of green banking.