Analysis of the Need and Importance of Green Tech Finance for Banking Sector: With Special Reference to Indian Scenarios

Abstract

Green technologies in banking sector are becoming increasingly vital in addressing environmental challenges due to the worldwide focus on sustainable development. Green tech financing facilitates the infrastructure industries to move to green solutions. This study analyses the importance of green technology financing in the banking sector, with an emphasis on India. Financial Sector' promotion of green technology becomes more vital as the country faces environmental issues and economic growth. The study employs a mixed method approach quantitative and qualitative, where survey-based approach and case studies used to gather insights from key respondents as well as government published data in the Indian banking sector in green finance. The survey investigates the current state of green tech finance, the challenges faced by banks in financing green projects, and the potential advantages of investing in sustainable technologies. The findings are provided valuable insights into the evolving role of banks in green finance, the barriers to its growth, and the opportunities for enhancing the financial sector's contribution to environmental sustainability in India. This research also emphasized the significance of government policies, regulatory frameworks, and financial instruments in promoting the advancement of green technology.