What is Green Banking ? How is it saving a lot of Cost
Green Banking means paper lees or paper reduce banking like Mobile banking, i-banking, Card etc. Green Banking is a new concept of Banking where all other financial activities remain same but extra focus are given on sustainability,Environment protection through the reduction of paperless banking.
How is Green banking different from Green bank
Green Bank: A green bank is a public or quasi-public financing institution that provides low-cost, long-term financing support to clean, low-carbon projects by leveraging public funds through the use of various financial mechanisms to attract private investment so that each public dollar supports multiple dollars of private investment.
In a brief it is an institution primarily made with the focus of proving finance to companies and customers who are working for Clean Energy initiatives.
How is it saving a lot of Cost ??
Through the green banking initiatives a lot of cost and resources are being saved.
- Financial matters are being dealt more quickly.
- Due to the people turning out to alternate channels, cost of banking transactions is being saved
- Due to paperless banking, environment is being saved. It is estimated that due to green banking initiative 16.5 Million trees are being saved in an year.