Green Finance Initiatives to Improve Green Banking Practices in India

Green finance is an innovative financial system. It is an umbrella term comprising green agriculture, green marketing, green building, green banking, green energy, and environmental friendly projects. It is an important sector of green finance. Global warming and climate change are the biggest problems throughout the world, which start to take their toll. To overcome these problems, to verify the existing business models and to learn clean development mechanisms through adopting clean development mechanism (CDM) projects, new financing models are essential. Green finance helps to protect common and green-ecological factors which intend to save and look after natural resources. Nature’s resources are saved and produced through green baking practices. Green banking practices refer to environmentally sustainable banking practices, which reduce the environmental impact of financial institutions while promoting environmentally friendly activities. This article’s goal is to examine green banking practices. The function and contribution of banks to environmental sustainability are also covered in this study. In the manuscript an effort has been geared up to study the objectives of the green finance related to green banking practices in our country, to analyze the green financial products and to get know the upcoming opportunity of green finance with regard to regulatory and policy frameworks for green banking. This article only focused on secondary data and focused on present and future renewable energy capacity used for this manuscript and explores ways to strengthen these frameworks to promote the growth of the green economy.