Purpose of the study:

This research project seeks to explore consumer understanding and awareness of the sustainable banking products offered by Punjab National Bank, while also shedding light on the elements that impact their acceptance. This investigation aspires to furnish valuable perspectives for augmenting customer involvement, advancing sustainable banking methodologies and bolstering PNB’s initiatives to synchronize its operational practices with ecological and sustainability objectives.

Design/ Methodology:

A structured questionnaire was used to carry out the survey. Data were gathered using both offline and online methods. Data were gathered online using Google Forms. Participants were chosen using random sampling and convenience sampling methods. A total of 111 replies from consumers were used for data analysis.

Findings:

The research elucidated a moderate level of customer awareness regarding PNB's green banking offerings, with electronic statements and digital banking services emerging as the most acknowledged. Principal determinants influencing adoption encompassed environmental awareness, user-friendliness and financial savings. Nevertheless, insufficient awareness and perceived intricacies constituted significant impediments, underscoring the necessity for focused awareness initiatives and user-centric strategies.

Limitations:

The study's sample size and diversity may limit the generalizability of findings to all PNB customers. Data collection's regional focus may restrict understanding of nationwide trends. The use of customer surveys or interviews may introduce bias, leading to inaccurate reflections of actual behaviour. Rapid developments in green banking products and shifting customer preferences may diminish the findings' relevance over time. Limitations in accessing PNB’s internal data on customer behaviour may constrain the analysis's depth.

Originality Value:

The study introduces a novel contribution by investigating customer cognizance and acceptance of Punjab National Bank's environmentally friendly banking services, a relatively underexplored area within the domain of sustainable finance. It provides unique insights into consumer behaviour, thereby enhancing scholarly discussions and supporting financial institutions in proficiently promoting eco-friendly financial practices.

Paper Type: Research Paper