Green Banking Practices: A Study on Environmental Strategies of Banks with Special Reference to State Bank of India
The world faces a great challenge of environmental degradation during the process of economic development. Banking sector as responsible stakeholders in this regards can do better contribution towards the environment by adopting various green banking practices. Green banking practices mean promoting environment-friendly practices and reducing carbon footprint from day to day banking activities. Green banks or environmentally responsible banks do not only improve their own standards but also affect socially responsible behavior of other business. Banks in India especially the largest commercial bank State Bank of India has developed several green banking initiatives. Recently the bank has introduced various paperless banking practices for their customers. Adopting these practices the customers can contribute a lot towards the environment. This paper aims to highlight the green banking initiatives made by SBI in Assam and attempt has been made to discuss the environmental and other benefits of these practices.