“Exploring Customer Awareness of Green Banking Initiatives in Karnataka: A Comprehensive Study on Public and Private Sector Banks”

Abstract

The paper aims at identifying and understanding the extent of knowledge and attitudes towards green banking activities among bank customers in Karnataka with a special reference to the public and private sectors. In this study, which is conducted through a structured questionnaire given to 500 customers through stratified random sampling, the research finds out that there is only a fair level of awareness of green banking strategies, with 62% of the participants indicating their awareness. However, there is a significant difference between the customers of the public and the private sector banks, where 70 % of the private sector banks’ customers are aware of the scheme compared to 54 % of customers of the public sector banks. On the issue of awareness, education level proved to be a significant factor whereby individuals with higher education levels had a better understanding of the risks, information available, and usage of online banking. The advantages of green banking according to the respondents include the impact of green banking on the environment (75% agreed), ease of conducting transactions through digital platforms (68% agreed), and cost-cutting from aspects such as the use of less paper and reduced branch visits (55% agreed). Difficulties mentioned are lack of information (40%), technical issues (30%), and security issues associated with online payment (25%). Proposed measures to tackle these findings include widespread public sensitization, improvement of Internet banking services, and promotion of green banking through policy incentives and public-private partnerships between the government and nonprofit organizations. In conclusion, the research highlights the need for the formation and development of sustainable banking and promoting environmental sustainability in the banking sector.