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Abstract
The banking system is an organised network of financial institutions providing services to the people and institutions. The main functions of banks at present scenario provide numerous advanced customised based services due to rising demands. For all such services, documentation plays a very important role and the same has been recorded on papers.
Paper is used for the major part of the banking processes and services which in return is affecting the environment to a greater extent. To avoid the overuse of paper especially in their marketing department, banks are adopting green marketing strategies in their green banking systems for having a paper-free record-keeping process and a sustainable environment. Green marketing refers to marketing activities involved in the process of selling products or services with the main aim of protecting the environment.
This the study delves with the main objective of the general understanding of green marketing strategies and techniques in the banking sector along with its impact on the customers of the bank. The structured questionnaire has been disturbed (n=100) to gather information relating to the research. Thus, based on the responses received it was found that almost all the banking sectors are making this shift- use of paper to paperless processes and the customers are also satisfied with this evolution and are taking steps towards sustaining the environment.
Keywords: Banking, Green Banking, Green Marketing, Sustainability, Customers
Introduction
Manufacturing goods and services which are sustainable to the environment and the process of marketing the same in an eco-friendly manner is known as Green Marketing. Companies are making green marketing decisions relating to the various processes of the company's products and services. In a broader spectrum environmental, societal and legal criterion are included in these steps undertaken by the firm. For the producers, green marketing includes using environmentally friendly practices in the production process like using renewable energy, reduction of emissions, recycling water and others. This concept attracts the attention of investors because it shows the companies social responsibility, good corporate governance and sustainability.
Green marketing as a concept is evolving not only in the tangible product lines but also in the service sectors and one among them is the banking sectors. The main reasons for the adaptation of this new concept even...