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.

Eco-friendly, green finance, green banking, green entrepreneur, green gross domestic product (GDP)

Akomea-Frimpong, I., Adeabah, D., Ofosu, D., & Tenakwah, E. J. (2022). A review of studies on green finance of banks, research gaps and future directions. Journal of Sustainable Finance & Investment, 12(4), 1241–1264.

Bhatnagar, M., Taneja, S., & Özen, E. (2022). A wave of green start-ups in India—The study of green finance as a support system for sustainable entrepreneurship. Green Finance, 4(2), 253–273.

Dayananda, K. C. (2020). Green banking in India: An overview. Journal of Humanities and Social Sciences, 25(3), 34–39.

Goel, P. (2016). Green finance: A step towards sustainable financial system. Abhinav International Monthly Refereed Journal of Research in Management & Technology, 5(3), 22–31.

Lalon, R. M. (2015). Green banking: Going green. International Journal of Economics, Finance and Management Sciences, 3(1), 34–42.

Meena, R. (2013). Green banking: As initiative for sustainable development. Global Journal of Management and Business Studies, 3(10), 1181–1186.

Mir, A. A., & Bhat, A. A. (2022). Green banking and sustainability–A review. Arab Gulf Journal of Scientific Research, 40(3), 247–263.

Raj, G. P., & Rajan, A. P. (2017). A study on the customer awareness on green banking initiatives. Intercontinental Journal of Finance Research Review, 5(7), 54–65.

Satheesh Kumar, C. (2017). A study on customer’s awareness on green banking initiatives in selected private sector banks with reference to Kunnamkulam Municipality. SSRG International Journal of Economics and Management Studies, 4(3), 40–42.

Sharma, P. N., & Lodhi, G. S. (2015). Status of green finance in India: Blocks to green investments. Journal of Energy Research and Environmental Technology, 2(2), 177–181.

Sudhalakshmi, K., & Chinnadorai, K. M. (2014). Green banking practices in Indian banks. International Journal of Management and Commerce Innovations, 2(1), 232–235.

Websites

PRS India. (2019). Budget from http://www.prsindia.org

Livemint. Economic Survey Budget (2018-19) Climate Change from http://www.livemint.com

ORF. State of the Indian Green Bonds Market and opportunities to scale from http://www.orfonline.org

NABARD. Green Climate Fund. NABARD Signs Project Agreement with Green Climate Fund—MumbaiMarch. http://www.nabard.org

Wikipedia. Renewable energy in India. http://www.en.wikipedia.org

IBEF. (2019, August). Renewable energy industry in India. http://www.ibef.org

Budget (2023): Analysis of Green Finance, and roadmap ahead. https://bfsi.economictimes.indiatimes.com/budget/union-budget-2023/budget-2023-analysis-of-green-finance-and-roadmap-ahead/974693740