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February 2015IJMIEVolume 5, Issue 2ISSN: 22490558___ A Review of Green Banking Practices in India: A Journey through LiteratureDolly Mangla* Dr. Shilpa Goel* Dr. Laxmi Gupta**Abstract: Green banking
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Green banking in India refers to the initiative taken by banks to promote environmentally sustainable practices and to reduce the environmental impact of banking activities. It involves the adoption of eco-friendly banking practices, financing for green projects, and supporting sustainable development.
Banks and financial institutions in India that are involved in green banking initiatives, particularly those mandated by the Reserve Bank of India (RBI), are required to file reports on their green banking activities.
Filing for green banking in India typically involves completing specific forms provided by regulatory bodies like the RBI, detailing the bank's environmental initiatives, green financing, and sustainability practices. Institutions may need to compile data on their energy consumption, waste management, and carbon footprint.
The purpose of green banking in India is to promote sustainable financing, encourage environmentally friendly practices among customers, and reduce the carbon footprint of the banking sector while contributing to the nation’s environmental goals.
Institutions must report information regarding their environmental policies, green lending practices, carbon emissions, energy consumption, waste management initiatives, and other sustainability efforts undertaken during the reporting period.
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