Green Banking Technology in Curbing Npa in India

Abstract

Abstract: The main aim of the Indian Government is to achieve Atmanirbhar Bharat through success of Swadeshi movement which focuses on holistic and sustainable development. It is important to keep in mind that to provide conducive environment for the production of indigenous goods and services, cost competitive products with least effect on the climate. During lockdown period due to COVID 19, we witnessed that various financial transactions took place at a fast pace due to the availability of smart technologies. Considering Covid-19 pandemic and economic slowdown, banks are relying on technology to improve risk monitoring and NPA management competences. The need of the hour is improved Innovative Green Banking Technologies for paper less transaction starting from applying for loans to release of loans, agreements, payback methods and recovery of NPAs etc.,. The aim of this research paper is to study various financial products, rules and policy of Banks NPA Recovery which promote Green Banking. Banks have a major part in controlling carbon imprint and speedy growth by redirecting capital flows to environmentally accountable projects and pioneering technologies.