Analysis of Green Innovation, FinTech Adoption, Carbon Reduction, and Energy Efficiency in the Indian Banking Industry
DOI:
https://doi.org/10.53983/ijmds.v15n05.004Keywords:
Energy Efficiency, Sustainable Banking, Green Finance, Digital Banking, Environmental Sustainability, FinTech and SustainabilityAbstract
The present study examined the role of green innovation, FinTech adoption, and carbon reduction in promoting energy efficiency in the Indian banking industry. With the increasing emphasis on sustainable development and environmentally responsible financial systems, banking institutions are rapidly adopting green banking practices and digital financial technologies to improve operational sustainability and reduce environmental impact. The study adopted a descriptive and analytical research design and utilized both primary and secondary data sources. Primary data were collected from 310 respondents, including bank managers, banking professionals, operational staff, and customers associated with public and private sector banks in India. A convenience sampling technique was used for selecting respondents, and statistical tools such as descriptive statistics, reliability analysis, correlation analysis, and regression analysis were applied using SPSS software. The findings of the study revealed that green innovation, FinTech adoption, and carbon reduction have significant positive impacts on energy efficiency in the Indian banking industry. The study further indicated that digital banking systems, paperless operations, sustainable financial technologies, and environmentally responsible operational practices contribute substantially toward reducing energy consumption and improving environmental sustainability. The research provides valuable insights for policymakers, banking institutions, and researchers regarding sustainable banking transformation and green financial development in India.
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