Benefits of Green Banking as a Financial Innovation - An Approach towards Ethical Leadership Development in India
Abstract
Global warming and sustainable development are the two biggest challenges of the world in 21st century. In Financial world, the financial institutions particularly banks has taken the responsibility of ethical leadership development and initiated Green Banking practices. Green Banking means developing inclusive banking strategies which will ensure sustainable environment and economic development in the framework of ethical leadership. It is the combination of technology, operational improvements and changing the habits of client in banking business towards developing the holistic approach of ethical leadership. Green Banking promotes environmental-friendly practices and reduces the carbon foot print from their operations.
The concept and practices of Green Banking is new to India but it is well established in developed countries by successfully incorporating ethical parameters for the benefit of customers. During 1960s concept of environmental sustainability started and its main objective is to balance the harmony relationship between the human life and nature and to fulfil the economic and social needs of the present and future generation by carefully viewing the aspect of ethical leadership. India is at nascent stage in sustainable development, despite of many initiatives taken by it.
The main emphasis of this research study is to understand the concept and approach of Public Sector Banks and Private Sector Banks to enrich their economic growth, environmental sustainability and the parameters of growth of ethical leadership. This research paper is based on secondary sources of data.
This research paper is divided into 04 parts. In the first part there will be a brief introduction. In the second part major initiative taken by Public Sector Banks and Private Sector Banks will be explained briefly. The third part explains the benefits and impact of Green Banking approach in ethical sustainable development of India. The fourth part comprises of the conclusion, suggestions and findings of this research.