Green Banking Practices in Odisha: A Way Forward to Vikshit Odisha

Green banking has emerged as a critical component of sustainable finance, enabling the banking sector to minimize environmental impacts while supporting economic growth. Odisha, being a rapidly developing state with increasing industrialization, urbanization, and environmental concerns, requires sustainable financial mechanisms to support the vision of “Vikshit Odisha@2036.” This study examines the role of green banking initiatives in promoting sustainable economic growth, reducing environmental degradation, and enhancing digital financial inclusion in Odisha that can contribute to the development vision of Vikshit Odisha by linking bank-led sustainability practices with Odisha’s climate-finance needs, renewable-energy transition, and district-level financial inclusion. The findings reveal that digital banking services, paperless banking, green loans, and renewable energy financing significantly contribute to operational efficiency and environmental sustainability. However, lack of awareness, technological barriers in rural areas, and inadequate policy coordination remain key challenges. The paper argues that green banking in Odisha should be understood not merely as a corporate sustainability practice but as a development-finance strategy capable of supporting inclusive growth, low-carbon infrastructure, and resilience-oriented public policy