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Indian Journal of Finance

ISSN: 0973-8711 Frequency: Monthly Peer Review: Double-blind Published since: 2007 Language: English
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Original Article

Subscription Original Article

Strategic Green Marketing Practices Minimizing Environmental Impact in the Indian Banking Sector

Manish Kumar1,  Sony Kumari2,  Ramesh Kandela3,  A. Arun Kumar4

1 Assistant Professor, ICFAI Business School, The ICFAI Foundation for Higher Education (Deemed to be University, Under Sec 3 of UGC Act, 1956), Donthanpally, Shankerpally Road, Hyderabad - 501 203, Telangana.

2 Manager I, ICICI Bank, Flat No 102, Sharan Complex, Near H P Petrol Pump, Sadaquat Ashram, Kurji, Patna - 800 010, Bihar.

3 Assistant Professor, ICFAI Business School, The ICFAI Foundation for Higher Education (Deemed to be University, Under Sec 3 of UGC Act, 1956), Donthanpally, Shankerpally Road, Hyderabad - 501 203, Telangana.

4 Senior Assistant Professor & Assistant Dean , ICFAI Law School, The ICFAI Foundation for Higher Education (Deemed to be University, Under Sec 3 of UGC Act, 1956), Donthanpally, Shankerpally Road, Hyderabad - 501 203, Telangana.

Volume 20
Issue 6
Pages 68–85
Year 2026
Received: Sept. 27, 2025 Accepted: May 25, 2026 Published: June 15, 2026
Abstract

Purpose: The purpose of this study was to examine the role of strategic green marketing practices in the Indian banking sector in minimizing adverse environmental impact by promoting green technology financing and implementing sustainable green banking practices. The study specifically examined how green social responsibility (GSR), green processes, and green products influenced green brand perception and green brand equity (GBE) among Indian bank customers. Design/Methodology/Approach : The study adopted a quantitative research approach supported by an extensive review of relevant literature to develop a conceptual research model. Primary data were collected through a structured questionnaire administered to 330 Indian bank account holders. Factor analysis and structural equation modeling (SEM) were employed to examine the relationship between key green marketing dimensions, GSR, green processes (GP), and green products, and their influence on green brand image (GBI) and GBE.

Findings: Green marketing dimensions significantly enhanced customer perceptions of GBI and positively influenced GBE in the Indian banking sector. Among the three dimensions, green products emerged as the strongest contributor, followed by GP and GSR. The results indicated that strategic green marketing practices indirectly contributed to minimizing environmental degradation by encouraging environmentally responsible banking operations and supporting sustainability-oriented financial behavior. Practical

Implications: The findings have important implications for banking practitioners and policymakers by emphasizing the need to integrate green marketing elements into strategic decision-making processes. Bank managers could strengthen the GBI, enhance customer trust, and improve brand equity by offering environmentally responsible products, implementing sustainable internal processes, and pursuing social responsibility initiatives. The study also offered guidance for promoting sustainable growth, reducing environmental impact, and enhancing social well-being through effective green banking strategies. Originality/

Value: This study contributes to the growing literature on green banking by offering a novel perspective on how green marketing strategies in the banking sector indirectly support environmental sustainability and reduce the adverse effects of global warming. Unlike previous studies, it integrates GSR, GPs, and green products to explain green brand perception and equity in the Indian banking context, while highlighting current sustainability initiatives adopted by banks to promote long-term environmental and social welfare.

Keywords green banking green marketing brand image environment sustainability
How to Cite

Manish Kumar, Sony Kumari, Ramesh Kandela, A. Arun Kumar (2026). Strategic Green Marketing Practices Minimizing Environmental Impact in the Indian Banking Sector. Indian Journal of Finance, 20(6), 68–85. https://doi.org/10.17010/ijf/2026/v20i6/176042

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