MCQ : What is green banking?
a. Paperless banking
b. Financing in green technology
c. Banking system involves in green sector
d. None
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Answer:
green banking is paperless banking
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Green banking can be termed as Paperless banking (option a)
Green Banking is an umbrella term used for the guidelines followed by many Banking organizations to establish environmental and eco-friendly practices in their management.
- This can be done by avoiding the use of paper objects such as cash, bills, receipts etc, thus running the bank on an online platform (Internet). Hence, it is known to be Paperless banking.
- Green Banking has proven to be beneficial for service consumers in many ways.
- It saves time as one doesn't have to visit a branch, most of the bank services can be availed online.
- Also, this initiative has decreased the rate of deforestation occurring because of the financial institutes of the country.
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