Green Finance in India: Progress and Challenges

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Authors:- Mr. Gourav Kamboj

Abstract- The term “green finance” describes financial agreements designed specifically to be used for initiatives that address the effects of climate change on the environment or that embrace sustainable practices. The goal is to increase the amount of money flowing to sustainable development initiatives from the public, private, and not-for-profit sectors through banking, microcredit, insurance, and investment. The United Nations Environment Program (UNEP) has been collaborating with various nations, financial regulators, and the finance sector to align financial systems with the 2030 Sustainable Development Agenda in order to steer financial flows to support the achievement of the Sustainable Development Goals. A wide range of financial services and products fall under the umbrella of “green finance,” which can be broadly classified into banking, investing, and insurance products. Examples of these include green bonds, climate risk insurance, green investment funds, and green-tagged loans. It is advised to launch a sustainable stock exchange program to create stock price indices that monitor a group of companies’ stock performance in accordance with environmental, social, and governance (ESG) principles. Around the world, there are four different regulatory frameworks. The first is the disclosure of sustainability by financial and non-financial enterprises; the second is directed and concessional lending; the third is the formation of green financial institutions; and the fourth is the micro- and macro-prudential regulations of financial and non-financial institutions. India began focusing on green finance in 2007 and implemented a number of financial and fiscal incentives. “Corporate Social Responsibility, Sustainable Development, and Nonfinancial for Banks” was the name given by the RBI to the project. The National Action Plan on Climate Change (NAPCC) was created in 2008 with the goal of outlining a comprehensive framework for policy in order to mitigate the effects of climate change. Other initiatives, such as “The Climate Change Finance Unit,” were created in 2011. India set a very ambitious goal in 2019: by 2030, it wanted to generate 450 GW of renewable energy.

DOI: https://doi.org/10.61463/ijnrefm.vol.2.issue3.105

Kajal Tripathi

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Women Empowerment through Financial Literacy: Building a Sustainable Future

Authors:- Research Scholar Sukhada Koppikar

Abstract- Investing in women’s financial literacy is not just an ethical imperative, but a strategic investment in a more sustainable future. This paper explores the crucial link between financial literacy and women’s empowerment, emphasising its impact on individual well-being, economic growth, and societal progress. Women empowerment goes beyond simply having rights on paper. It requires access to resources, decision-making power, and the ability to influence outcomes without undue social or economic pressure. It’s not just about financial independence, but also about freeing women from dependence on men or family for basic needs and opportunities. This includes social, cultural, and political independence as well. The statistic of 50% economically dependent women highlights the vastness of the issue in India. It emphasises the need for widespread and targeted interventions to address this challenge. This paper examines the financial behaviour and product knowledge of working women in Maharashtra. Financial literacy consists of combining efforts of knowledge and skills with saving and investment behaviour to generate wealth. Financial products are complex and require rational planning and a deep understanding of the basic functioning of financial products. Proper planning of income is crucial for leading a debt-free and financially healthy retirement. Financial product literacy consists of knowledge of financial worth, PPF, Equity shares, Preference shares, Recurring deposits, Bonds, Mutual Funds, SIP’s, Market regulator RBI and insurance coverage. Urban working women need to actively participate in financial planning and investing. This is possible if they possess the knowledge and tools of investing. The study aims to understand the present levels of financial literacy both basic and advanced possessed by urban women.

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A Study on Understanding Public Perceptions of Central Bank Digital Currency: A Qualitative Exploration of Benefits, Concerns, and Potential Impact

Authors:- Vidhi Nayyar, Vedang Khopkar

Abstract- The present study aims to delve into the perception of the youth and working class of India about CBDC- a new financial technology backed by the Reserve Bank of India. The study will help to understand the various perspectives and insights about this novel technology and thus try to comprehend and infer on its various implications, possible benefits, drawbacks and changes it would bring in place due to its adoption. This study sheds light on the application of concepts like centralisation, blockchain technology and smart contracts, which are integrated into it.

Green Finance in India: Progress and Challenges

Kajal Tripathi

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Women Empowerment through Financial Literacy: Building a Sustainable Future

A Study on Understanding Public Perceptions of Central Bank Digital Currency: A Qualitative Exploration of Benefits, Concerns, and Potential Impact

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