A STUDY ON GREEN LOYALTY IN BANKING SERVICES

Submitted By

Vennela Sandhyagiri

H.T No: 141522672113

Under the Guidance of

Dr. G. Radha Kiranmayi

Submitted in partial fulfilment for the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

PENDEKANTI INSTITUTE OF MANAGEMENT

(Affiliated to Osmania University)

IBRAHIMBAGH

2022-2024

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DECLARATION

I hereby declare that this project titled “A STUDY ON GREEN LOYALTY IN BANKING
SERVICES” is an original work carried out by me, under the guidance of Dr. G. Radha
Kiranmayi. The report submitted by me is a bonafide work carried out by me of my own
effort and it has not been submitted to any other university or published any time before.

Date:
NAME: Vennela Sandhyagiri
Place: Hyderabad H.T. No.141522672113

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 ACKNOWLEDGEMENT

I take immense pleasure in acknowledging the efforts of the following people who helped me
to make this project a reality.
I express my gratitude for their suggestions, guidance and intellectual influence.

My sincere thanks to Prof. S. Kasturi Rangan, Principal, Pendekanti Institute of Management

and my project guide Dr. G. Radha Kiranmayi for the kind encouragement and constant
support extended in completion of this project work from the bottom of my heart.

I am also thankful to all those who have incidentally helped me, through their valued
guidance, co-operation and unstinted support during my project.

Vennela Sandhyagiri

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TABLE OF CONTENTS

[Link] Chapter Name Page No

1 INTRODUCTION 1-17
2A REVIEW OF 18-26
LITERATURE
2B INDUSTRY AND 27-37
COMPANY ANALYSIS
3 RESEARCH 38-42
METHODOLOGY
4 DATA ANALYSIS AND 43-53
RESULTS
5 FINDINGS, 54-61
SUGGESTIONS, AND
CONCLUSIONS

6 BIBLIOGRAPHY 62-64
7 ANNEXURE 65-69

LIST OF TABLES

Table no Content Page no

3.6 Tools for analysis 41

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4.1.1 Distribution of respondents 43
Age group

4.1.2 Distribution of respondents 44

Gender group

4.1.3 Distribution of respondent’s 45

occupation group

4.1.4 Distribution of respondents 46

Education group

4.2.1 Model summary of Green 47

practices

4.2.2 Anova of Green practices 47

4.2.3 Model summary of Green 48

perceived value

4.2.4 Anova of Green perceived 48

value

4.2.5 Model summary of Green 49

trust

4.2.6 Anova of Green trust 49

LIST OF FIGURES

[Link] FIGURE NUMBER FIGURE NAME [Link]

1 2.2 Theoretical framework 26
of the study

2 4.1.1 Distribution of 43
respondents of Age

5
 Group
3 4.1.2 Distribution of 44
respondents of Gender
Group
4 4.1.3 Distribution of 45
respondents of
Occupation Group
5 4.1.4 Distribution of 46
respondents of
Education Group
6 4.2.7 Hypothesis test 50
Summary of Age
7 4.2.8 Hypothesis test 51
Summary of Gender
8 4.2.9 Hypothesis test 52
Summary of Education
9 4.2.10 Hypothesis test 53
Summary of Occupation

Abstract

This study investigates the role of green practices, green trust, and green perceived value in
influencing green loyalty within the banking sector. It also aims to identify whether
demographic factors significantly impact customer loyalty towards green banking services.

Key Variables:

● Green Practices: Actions taken by banks to minimize their environmental footprint

and promote sustainability. This includes encouraging online banking, paperless

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 billing, and offering environmentally friendly financial products. Green practices
benefit both the environment and the bank through cost savings, improved brand
image, and a more sustainable future.
● Green Trust: The level of confidence customers have in a bank's commitment to
environmental responsibility. This trust is built through transparent communication,
credible certifications, and consistent demonstration of green practices. Establishing
green trust is crucial for attracting and retaining environmentally conscious
customers, enhancing brand reputation, and contributing to a sustainable future.
● Green Perceived Value: The value customers associate with a bank's green
initiatives. This includes the additional worth they place on services and products that
minimize environmental impact. By focusing on green perceived value, banks can
attract and retain environmentally conscious customers who appreciate their
sustainability efforts.
● Green Loyalty: A shift in customer retention strategies that prioritizes both
environmental responsibility and building a loyal customer base. Banks achieve this
by rewarding customers for making environmentally friendly choices that align with
their values.

The Study's Approach:

● The study analyzes the influence of green practices, green trust, and green perceived
value on green loyalty using statistical tools like regression and correlation tests.
● The impact of demographic variables (age, education, occupation) is assessed using
the Kruskal-Wallis test, while gender is assessed using the Wilcoxon Mann-Whitney
U test.
● Data is collected from 100 respondents across six banks in the Hyderabad region.
These respondents represent various age groups (20-30, 30-40, >50), educational
backgrounds (undergraduate, graduate, postgraduate), occupations (unemployed,
employed, self-employed), and genders (male, female).

Key Findings:

● The study finds that green practices, green trust, and green perceived value all
significantly influence green loyalty in banking services.

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 ● Interestingly, demographic variables like age, gender, education, and occupation do
not appear to have a significant impact on green loyalty.

Limitations and Future Research:

● The study acknowledges limitations due to the sample size (100 respondents) and its
focus on the Hyderabad region.
● Future research is recommended to increase the sample size and collect data from a
wider range of regions for more generalizable results.

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 CHAPTER – 1
INTRODUCTION

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 CHAPTER – 1
INTRODUCTION

1.1 The Concept of Green in Organizations

"Green" usually refers to activities, practices, technologies or products that are
environmentally friendly or sustainable. This means that they aim to decrease damage
to the Earth and its ecosystems and natural resources, and to promote conservation
and responsible use of natural resources.
1.1.1 Brief background
➢ The connection of the colour green with nature and the environment goes back
centuries. In many cultures, green has symbolised growth, life and renewal, as it is
associated with plants and leaves. This symbolic association laid the foundation for
the green describe environmental concepts and initiatives.
➢ Industrial Revolution and Environmental Awareness:
The Industrial Revolution marked a turning point in human history, bringing with it
significant technological advances as well as unprecedented environmental
degradation. When people saw the negative effects of industrialization on nature,
concerns about environmental protection and sustainability arose.
➢ Symbolism of Green:
The colour green has been associated with nature, life and growth throughout history
and in various cultures. It is the colour of healthy plants and lush landscapes,
representing vitality, harmony and renewal. This symbolism has influenced the way
we understand environmental problems and solutions.
➢ Environmental Movement:
In the 20th century, especially with the emergence of the modern ecological
movement in the 1960s and 1970s, the term and quot; and" was involved in initiatives
and practices aimed at environmental protection. It was a time when awareness of
pollution, habitat destruction and other environmental problems grew, leading to calls
for preservation and conservation.
➢ Language and communication:
As environmental awareness grows, the term "green" has become an acronym that
describes activities, technologies and products that are environmentally friendly or
sustainable. It provided a simple and recognizable way to convey concepts related to

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 conservation of natural resources, environmental friendliness and responsible
management.
➢ Marketing and branding:
In business and marketing, the term "green" is used. Gained popularity as companies
sought to attract environmentally conscious consumers. Products and services labelled
as "green" or "ecological" conveyed a message of environmental responsibility and
attracted customers who prioritised sustainability in their purchasing decisions.
➢ Politics and Advocacy:
In politics and advocacy, the term "green" is often used to describe initiatives and
legislation that promote environmental protection and sustainability. This includes
efforts to transition to renewable energy, reduce carbon emissions, protect natural
habitats and promote recycling and waste reduction.

1.1.2 Purpose of Going Green

The word "green" serves a number of important purposes in the context of the
environment.
➢ Nature and Life Symbolism:
Green has long been associated with nature, growth and life, just as it is associated
with plants and leaves. When it comes to environmental issues, the word "green"
conjures up images of lush forests, thriving ecosystems, and the connectedness of all
living things. By exploiting this symbolism, the expression helps promote a deeper
appreciation of nature and the importance of preserving it for future generations.
➢ Communicating about sustainability:
Using "green" as an abbreviation for sustainability, ecological friendliness, and
environmental responsibility helps identify and promote practices that minimise
environmental impact, conserve natural resources, and promote long-term ecological
balance. It distinguishes environmentally friendly options from traditional ones and
guides consumers and decision-makers toward more sustainable choices.
➢ Political:
The term "green" is used in political and lobbying contexts. Has special connotations
in relation to environmental protection, nature conservation and social responsibility.
Green political parties and environmental organisations often use the word in their

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 names and slogans to express their commitment to environmental protection and
sustainable development.
➢ Economic Importance:
In economics, when we talk about something being "green," it means it's good for the
environment. The green economy includes industries and technologies that help
protect nature while also making money. These things not only help the environment
but also create jobs and make money for businesses.
➢ Consumer awareness and marketing:
As consumers increasingly prioritise sustainability in their purchasing decisions, the
term "green" has become an effective marketing tool for companies seeking to attract
environmentally conscious customers. Products labelled as "green" or "ecological"
indicate that they meet environmental standards and may be better on the market.

1.1.3 Factors
There are several factors that contribute to the understanding and perception of
the colour green in detail:
➢ Natural Association:
Plants, trees, and grasses are intimately linked to the colour green. Since it represents
rebirth, growth, and energy, it is frequently associated with ideas of environmental
sustainability and health.
➢ Health:
Green is commonly associated with health and well-being. It is often used in branding
for health-related products and services, symbolising freshness, balance, and
harmony.
➢ Environment:
Green is the colour of environmentalism and sustainability. It is used to promote eco-
friendly practices, conservation efforts, and awareness about environmental issues.
➢ Balance:
In colour psychology, green is seen as a balanced colour, combining the calming
properties of blue with the energy of yellow. It is associated with stability, harmony,
and equilibrium.
➢ Money and Wealth:

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 Green is traditionally associated with money and financial prosperity in many
cultures. It represents abundance, prosperity, and success, often seen in currency and
financial logos.
➢ Renewal and Rejuvenation:
Green is connected to concepts of renewal and rejuvenation, such as the fresh start of
springtime or the revitalization of a project or idea.
➢ Relaxation:
Green is a soothing colour and is often used in interior design to create calming and
relaxing environments, such as in bedrooms or spa settings.
➢ Fertility:
In some cultures, green is associated with fertility and growth, especially in terms of
agriculture and the nurturing of new life.

1.1.4 Outcomes

Integrating green practices into sustainable development can lead to a variety of positive
outcomes that promote environmental, social and economic well-being.
There are some important results of incorporating green initiatives into sustainable
development.

➢ Environmental protection:
[Link] conservation: Green sustainable practices often include the protection
of habitats and ecosystems and the promotion of biodiversity.
➢ Resource efficiency:
b. Reduced resource consumption: Green initiatives focus on minimising resource
use and optimising efficiency, resulting in less waste and environmental impact.
➢ Clean Energy Adoption:
c. Renewable Energy Transition: Green sustainability includes the adoption of
renewable energy sources such as solar and wind power, which help reduce
greenhouse gas emissions and dependence on fossil fuels.

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 ➢ Waste Reduction:
d. Minimising the Environmental Footprint: Green practices aim to reduce waste
production through recycling, recycling and the use of sustainable materials, resulting
in a smaller environmental footprint.
➢ Better air and water quality:
e. Reduced pollution: Sustainable practices such as green transportation and
environmentally friendly manufacturing improve air and water quality, which benefits
both the environment and human health.
➢ Climate Change Mitigation:
[Link] Reduction: Green initiatives play a key role in climate mitigation by
reducing carbon dioxide emissions and promoting carbon sequestration through
sustainable forestry and land management.

1.1.5 Green activities

➢ Green environmental activities include a wide range of practices and initiatives aimed
at reducing negative impacts on the environment and promoting sustainable
development.

Here is a detailed overview of the most popular green initiatives:

➢ Improvement of energy efficiency:
Measures are implemented to improve energy efficiency in buildings, transport and
industrial processes. This includes improving insulation, using energy-efficient
appliances and lighting, optimising heating and cooling systems, and implementing
energy management practices to reduce overall energy consumption.
➢ Waste Reduction and Recycling:
Implement waste reduction strategies to minimise the amount of waste generated and
promote recycling programs to divert materials from landfills. This means that
individuals and businesses are encouraged to reduce, reuse and recycle materials and
compost organic waste to return nutrients to the soil.
➢ Sustainable Agriculture:
Adopt ecological farming practices that promote soil health, conserve water and
reduce chemical use. This includes organic farming, crop rotation, agroforestry and

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 integrated pest management techniques to reduce reliance on synthetic pesticides and
fertilisers.
➢ Corporate Sustainability Initiatives:
Encouraging companies to adopt environmentally sustainable practices through
corporate social responsibility programs, sustainable supply chain management and
green business certifications. This includes reducing carbon dioxide emissions,
minimising waste production and promoting sustainable product designs and
manufacturing processes.

1.2 Green practices

Green practices, also known as sustainable practices, refer to activities and behaviours that
are environmentally friendly and designed to reduce negative impact on the planet. These
practices cover various aspects of daily life, business, production processes and resource
management.

1.2.1 Origin
➢ Early Roots:
People have always cared about nature, but organised efforts to protect the
environment started around the 1800s and early 1900s. This was when
industrialization began causing pollution and damaging natural areas.
➢ After World War II:
After World War II, when there was a lot of rebuilding and growth, people started
noticing more pollution. There were events like the London Fog disaster in 1952 that
showed how dangerous pollution could be.
➢ 1960s and 1970s: The Rise of Environmentalism:
In the 1960s and 1970s, there was a big movement for protecting the environment.
The first Earth Day happened in 1970, bringing lots of people together to ask for laws
to protect nature. Governments started passing laws to clean up the air and water, and
organisations like the Environmental Protection Agency (EPA) were created to help.

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 ➢ 1980s to Present: Mainstreaming Sustainable Development:
From the 1980s onward, more and more people started thinking about sustainability.
This means using resources in a way that doesn't harm the environment or future
generations. The idea of sustainable development became popular, which means
growing the economy while also being fair to people and taking care of nature. Today,
green practices are everywhere. We see them in things like using renewable energy,
recycling, protecting wildlife, and trying to stop climate change.

1.2.2 Several factors which contribute to the adoption and success of green practices:

➢ Awareness and Education:

Learning about environmental issues and why it's important to take care of the Earth
helps people make better choices in how they use resources and treat the environment.
➢ Regulations and Policies:
Governments make rules that encourage people and businesses to be kind to the
environment. These rules might say things like "don't throw trash in the ocean" or
"use clean energy sources like wind or sunlight."
➢ Technology and Innovation:
Scientists and engineers are always finding new ways to do things that don't hurt the
environment. For example, they make machines that use less energy or find ways to
recycle more things so we don't have to make as much new stuff.
➢ Economic Incentives:
Sometimes, governments give money to people or businesses that do things that help
the environment. This makes it more appealing for them to make green choices
because they can save money or get extra help.
➢ Consumer Demand:
When people like you and me ask for products that are good for the environment,
companies start making more of them. They want to sell things that people want to
buy, so they listen to what we care about.

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1.2.3 Importance
➢ Environmental Protection:
Green practices help keep our environment clean and healthy. They reduce pollution,
save natural resources like water and trees, and protect animals and plants from harm.
➢ Resource Conservation:
Green practices teach us to use things wisely. We try not to waste stuff like water,
energy, and materials, and we recycle things instead of throwing them away.
➢ Public Health and Well-being:
Green practices make us healthier and happier. They reduce pollution, give us clean
air and water, and provide more opportunities for exercise and enjoying nature.
➢ Sustainable Development:
Green practices help us grow and improve in a way that's good for everyone. We
balance economic growth with taking care of the environment and making sure
everyone has what they need.
➢ Resilience and Adaptation:
Green practices make us stronger against disasters like storms and floods. By taking
care of nature and building stronger buildings, we can better protect ourselves from
harm.
➢ Community Empowerment and Social Equity:
Green practices give power to communities to make decisions about their
environment. They make sure everyone, no matter who they are, gets to benefit from
a clean and healthy environment.

1.3 Green Trust

Green trust, a growing movement towards environmental sustainability and corporate
responsibility, is based on the belief in environmentally friendly practices and products,
addressing climate change, pollution, and resource depletion.
"Green trust" typically refers to the level of trust or confidence that individuals or
organisations have in environmentally friendly or sustainable practices, products, or
initiatives. It encompasses various aspects of sustainability, including environmental
stewardship, social responsibility, and economic viability.

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1.3.1 Outcomes of Green trust
➢ Companies Start to Notice:
In the 1970s and 1980s, some companies started to pay attention to these worries
about the environment. They began to try out some new ways of doing things that
were less harmful to nature.
➢ Marketing Gets Green:
Later, in the late 1980s and early 1990s, companies began to tell people about their
eco-friendly practices. They used words like "green" or "sustainable" to describe
products that they said were better for the environment.
➢ Consumers Want Eco-Friendly Stuff:
People started to care more about what they were buying and how it affected the
environment. They wanted to buy things that were kinder to nature.
➢ Certification and Labels:
To make sure companies were telling the truth about being eco-friendly, special labels
were created. These labels, like Energy Star for energy-efficient appliances, showed
that a product was good for the environment.
➢ Companies Show Off Their Green Side:
Many companies began to talk openly about what they were doing to help the
environment. They started to publish reports that explained their efforts to be eco-
friendly. This helped people trust them more.
➢ Government Rules and Policies:
The government is also involved by implementing rules to protect the environment.
They set standards for examples like pollution and waste, which makes companies
think more about being eco-friendly.

1.3.2 Factors
The term "green trust" describes the confidence or faith that people or organisations have in
sustainable or environmentally friendly methods, goods, or projects. A number of elements
have a role in creating and preserving green trust.
➢ Transparency:
Being forthright and truthful about environmental policies, including sharing details
about product or service sourcing, manufacturing procedures, and environmental
effects.

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 ➢ Consistency:
Upholding environmental norms and pledges consistently, showing a long-term
commitment to sustainability as opposed to greenwashing or horticultural short-term
projects.
➢ Environmental Performance:
Showing quantifiable gains in environmental performance indicators, like lower
carbon emissions, better energy use, less waste, and conserved water.
➢ Innovation:
Putting money into R&D to come up with novel approaches to solving environmental
problems, like creating eco-friendly production methods, sustainable materials, or
technology for renewable energy.
➢ Corporate Social Responsibility (CSR):
It is the practice of showing a commitment to social and environmental stewardship
by incorporating environmental sustainability into larger CSR programs including
charity, volunteerism, and community participation.
➢ Supply Chain Management:
Making certain partners and suppliers follow comparable environmental policies and
procedures, hence expanding the chain's commitment to sustainability.
➢ Regulatory compliance :
It refers to both aggressively promoting stricter environmental laws and regulations as
well as adhering to applicable environmental rules.
➢ Communication and Education:
Effectively informing stakeholders about environmental efforts and accomplishments
via a variety of channels, as well as promoting education and awareness-raising
programs to motivate staff, clients, and the general public to adopt more
environmentally friendly practices.

1.3.3 Importance
➢ Consumer preference:
Consumers are increasingly aware of environmental issues and are more likely to
support companies that demonstrate a commitment to sustainability. Green trust plays

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 a key role in shaping consumer perceptions and preferences. Companies with a strong
reputation for environmental responsibility are more likely to attract and retain
customers.
➢ Brand Reputation:
A company's brand reputation may be improved by cultivating green trust. An
organisation's reputation for sustainability may help it stand out in the marketplace,
win over more clients, and achieve long-term success. Conversely, a lack of green
trust can damage a brand's reputation and undermine its competitiveness.
➢ Employee Engagement:
When a corporation shares the same values as its employees, such as environmental
responsibility, its workforce tends to be more engaged and motivated. Increasing
green trust may boost morale among staff members, draw in top talent, and increase
retention rates. Workers who support their company's sustainability efforts are
probably more dedicated to its success and more productive.
➢ Competitive edge:
Green trust may offer a considerable competitive edge in today's cutthroat economy.
Businesses that set the standard for sustainability may stand out from rivals, draw in
eco-aware clients, and increase their market share. Long-term commercial success
may be facilitated by a sustainable competitive advantage derived from green trust.
➢ Long-Term Viability:
Long-term commercial viability depends on environmental sustainability; it is not
merely a trend. Companies that want to prosper in a world where environmental
concerns are progressively influencing customer behaviour, legal requirements, and
corporate operations must establish green trust. Long-term success and flexibility in
response to shifting market conditions are more likely for businesses that put a high
priority on sustainability and gain green trust.

1.4 Green Perceived value

"Green perceived value" is about how people think certain products are really good because
they help the environment. It's important because more and more people care about
protecting the planet. So, companies make eco-friendly products, and people like them more
because they want to help the Earth.

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"Green perceived value" is all about how people see the worth or value of products that are
good for the environment. It became important as more and more people started caring about
things like pollution, using up Earth's resources, and climate change.
1.4.1 Importance
➢ Consumer Confidence:
When people trust that a company cares about the environment, they're more likely to
buy its products. This trust comes from the company being honest, real, and
consistently doing good things for the environment.
➢ Brand Reputation:
If a company is known for being good to the environment, people like it more. This
helps the company stand out from others and do well in the long run.
➢ Customer Loyalty:
When customers trust that a brand is doing well for the environment, they keep
buying from it. They also tell their friends about it, which helps the brand grow.
➢ Market Differentiation:
When a brand is known for being eco-friendly, it stands out from competitors. People
who care about the environment choose these brands over others.
➢ Investor Confidence:
Investors like companies that care about the environment because they seem safer.
More investors are putting money into companies that are eco-friendly.

1.4.2 Factors
Perceived green value refers to the perceived benefits or advantages that consumers associate
with environmentally friendly products or practices.
Several factors contribute to enhancing this perception among consumers:
➢ Transparency and Information:
This is about being clear and honest about how a product affects the environment.
Companies should tell you where they get their materials, how they make their
product, and how you should get rid of it when you're done using it.
➢ Brand Reputation and Trust:
This is about believing in a company to do the right thing for the environment. If a
company has a good history of being eco-friendly, people trust it more and feel better
about buying its products.

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➢ Social Influence and Norms:
This is about how other people and society as a whole affect what we think is good
for the environment. If everyone is talking about how important it is to save the
planet, we're more likely to choose eco-friendly options.
➢ Convenience and Accessibility:
This means how easy it is to find and use eco-friendly products. If it's easy to recycle
or if there are lots of green products in stores, people are more likely to buy them.
➢ Emotional Appeal and Brand Storytelling:
This is about how a company makes us feel about helping the environment. If they tell
a good story about why it's important and make us feel good about buying their
products, we're more likely to do it.
➢ Government Policies and Regulations:
This means rules and laws that encourage companies to be eco-friendly. If the
government rewards companies for being green or makes them follow certain rules to
protect the environment, it helps us all make better choices.

1.5 Green loyalty

1.5.1 Origin
➢ Back in the 1960s and 1970s, people started to realise that the environment was in
trouble. There were big movements like Earth Day, and books like "Silent Spring" by
Rachel Carson that talked about pollution and other problems. This got more people
thinking about how their actions, like what they buy, affect the planet.
➢ As time went on, especially into the late 20th and early 21st centuries, more and more
people started caring about the environment. They began looking for products that
didn't harm the planet. This is what we call "green consumerism" - choosing eco-
friendly stuff.
➢ At the same time, people started to really like brands that cared about the environment
too. They wanted to stick with these brands because they felt good about supporting
them. This loyalty to eco-friendly brands is what we call "green loyalty.
➢ “So basically, green loyalty came about as people became more aware of
environmental issues and started choosing products and brands that were good for the
planet. It's all about sticking with brands that care about the environment, just like you
do.

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1.5.2 Factors
➢ Consumer Behaviour:
Green loyalty starts with how people buy things. If someone cares about the
environment, they'll try to buy stuff that's not bad for it. Like things made from eco-
friendly materials or with packaging that doesn't hurt the planet.
➢ Brand Commitment:
Green loyalty means really liking brands that care about the environment. It's not just
about buying their stuff; it's also about supporting them and telling others about them.
People might follow these brands on social media, join their eco-projects, and give
them feedback to keep doing better.
➢ Trust and Transparency:
People want brands to be honest about how eco-friendly they are. They want to know
if a product is good for the planet, what the company is doing to help, and if there are
any certifications showing they're doing a good job. When brands are open about this
stuff, people trust them more.
➢ Long-Term Relationships:
Green loyalty means sticking with a brand for a long time. When people see that a
brand cares about the environment and keeps doing good things, they're more likely to
stay loyal. It's not just about one product; it's about liking the whole brand and what it
stands for.
➢ Influence on Decision-Making:
People who care about the environment are more likely to buy from brands that care
too. As more people worry about things like climate change, they're choosing eco-
friendly brands more often.

So, green loyalty is all about people loving and sticking with brands that are good for the
planet. When companies care about the environment and show it, they get loyal customers
who stick with them for the long haul.

1.5.3 Importance
➢ Green loyalty is crucial because it makes people want to buy things that are good for
the environment. When more people buy eco-friendly products, it helps to protect the
planet by reducing pollution and saving natural resources.

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 ➢ Also, when people trust brands that care about the environment, it encourages
companies to come up with new and better ways to be eco-friendly.
➢ This means more green products for everyone to choose from. Plus, when companies
know that customers care about being green, they feel responsible to keep doing good
things for the environment. So, green loyalty is like a big push toward making our
world a better, cleaner, and safer place to live.

1.5.4 Advantages
➢ Knowing About the Environment:
When people learn about things like pollution, climate change, and using up
resources, they start caring more about buying things that are good for the
environment.
➢ Quality of Green Products:
Green products should work just as well as regular ones, if not better. When they do,
it makes people happy and more likely to buy them again.
➢ Being Honest and Clear:
People trust brands that are honest about how their products help the environment.
When brands show they're really trying to be green and tell people about it, it makes
customers feel good about buying from them.

➢ Reputation of the Brand:

If a brand is known for being good to the environment, people are more likely to buy
from them. Brands that have a history of doing good things for the environment earn
people's trust and loyalty.
➢ Getting Rewarded for Being Green:
Sometimes, companies give rewards to people who buy eco-friendly stuff, like
discounts or points. This makes people want to keep buying green products.

1.6 Objectives of the study

Primary Objectives
The primary objective of the study is to identify the role of Green practices, Green trust
and Green perceived value on Green loyalty in the Banking sector.

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Specific Objectives:
➢ To understand the impact of Green Practices on Green Loyalty.
➢ To understand the effect of Green trust on Green Loyalty.
➢ To understand the influence of the Green Perceived Value on Green Loyalty.
➢ To measure the changes in Green Loyalty with changes to Demographic Variables.

1.7 Scope of the study

The study on determinants of Green loyalty is conducted to understand the role of Green
practices, Green trust and Green Perceived value in Banking Services. The study is conducted
in Hyderabad. For conducting this study both public and private banks were chosen namely
(AXIS, BOB, SBI, CANARA, and KOTAK).

The study has been conducted in the Hyderabad region and the sample is collected from 100
respondents of Age Groups (20-30, 30-40, >40), education Qualifications (Undergraduate,
Graduate, and Postgraduate), occupation (unemployed, employed, self-employed) and gender
(male, female) and for the analysis of the collected data various statistical tools were used
such as correlation, regression, Kreskas Wallis test, and Wilcoxon Mann Whitney U test this
study has 7 hypotheses which analysis the significant impact of green Practices, Green trust
And Green perceived value on Green loyalty and also the change occurred in Green loyalty
because of the change in demographic variables such as age, gender, education and
occupation.

1.8 Limitations of the study

➢ Due to geographical limitations, this survey was only conducted in Hyderabad city; if
we had collected more varied replies, the results could have been more accurate.
➢ It was very difficult to get more responses to this survey because there was a limited
number of 100 responses available, the results would have been more accurate.
➢ This study is limited to only six banks. If more banks were selected for sampling, we
would have more potential data for analysis.

17
➢ In this study, there are only three factors namely Green practices, Green Trust, and
Green perceived value. There may be many other factors that can significantly affect
Green loyalty, so this study can be extended too many other dimensions.

18
 CHAPTER –2
REVIEW OF LITERATURE

CHAPTER –2
LITERATURE REVIEW

2.1 A Literature Review

[Link],Kismawadi,& Handriana, T. (2024) Defines that This study aims to
determine and analyse the effect of Green Brand Image and Green Satisfaction on
Green Brand Equity mediated by Green Trust for Outpatients in East Java Hospital.

19
This research uses a quantitative approach using explanatory research. The population
in this study used all outpatients who had visited the East Java Hospital. The sampling
technique in this study used purposive sampling using a quota sample of 100 people.
The data in this study were obtained from a questionnaire in the form of a list of
questions to outpatients seeking treatment at the Type B Hospital in East Java. After
the data has been collected, data analysis is carried out using SEM (Structural
Equation Modelling) analysis techniques with the help of the SmartPLS program.
Green Brand Image has a significant positive effect on Green Brand Equity, Green
Brand Image has a significant positive effect on Green Trust, Green Satisfaction has a
significant positive effect on Green Brand Equity, Green Trust has a significant
positive effect on Green Brand Equity, Green Brand Image has a significant positive
effect on Green Brand Equity mediated by Green Trust, and Green Satisfaction have a
significant positive effect on Green Brand Equity mediated by Green Trust for
Outpatients in East Java Hospital. This study is very important for society because it
will help more people know about Green Hospital. Not only can an eco-friendly brand
image help people learn about eco-friendly hospitals, but it can also help people and
businesses connect with them, giving businesses a competitive edge and giving
society long term stability.

Grouse (2024) explains that Within a Europe highly concerned about becoming a
zero net greenhouse gas emission continent, and where the circular economy is
strongly promoted as a proper lever in this sense, the present paper aims to raise
awareness regarding best practices towards a “green” food retail sector in Romania. In
a more specific regard, the “green” practices implemented by the main food retailers
acting on the Romanian market are analysed, focusing on what these practices are,
how they are measured and how transparent they are.

Muflih, Iswanto, & Purbayati (2023) says that Departing from the spirit of
environmental concern, this study aims to connect green practices of Islamic banking
with green customer loyalty, both directly and through the role of green trust, green
perceived value and green satisfaction.

Mahartin (2023) defines the paper aims to present a comprehensive framework for
the influences of green perceived risk, green image, green trust and green satisfaction

20
to green loyalty. The paper also seeks to account explicitly for the differences in green
perceived risk, green image, green trust, green satisfaction and green loyalty found
among green products customers. The findings show that green image, green trust and
green satisfaction has positive effects on green loyalty. The contributions of the paper
are, firstly, a more complete framework of the influences of green perceived risk,
green image, green trust and green satisfaction to green loyalty analysis
simultaneously. Secondly, the study allows a direct comparison of the difference in
green perceived risk, green image, green trust, green satisfaction and green loyalty
between green products customers.

Heliyon. 2023 cites that By catering to the requirements of environmentally

concerned consumers and offering them the brands and products they like, businesses
may gain a competitive advantage in the marketplace. However, marketers must
comprehend how growing degrees of green brand loyalty influence other aspects that
explain customers' pro environmental behaviour. With the growing trends in green
marketing, the general tendency of modern Consumers perceive greener products as
information exhibits, and the lack of validation for such practices, it is evident that
they require further investigation as determinants of green brand loyalty. This study
intends to operationalize and validate a conceptual model for assessing green loyalty
that integrates environmental concern, perceived environmental knowledge,
environmental advertising, and the mediator predictor of green trust. A systematic
literature review revealed the indicators (variables) for each concept. We employed
structural equation modelling (SEM) to test our hypothesis after administering a
structured questionnaire to 412 respondents. It was revealed that environmental
concern, perceived environmental knowledge and Environmental advertising
significantly affects green trust, increasing brand loyalty for green products. The
Current research supports the notion that strong positive connections exist between
the selected constructs.

Riva, Magrizos, Rubel & Rizomyliotis (2022).Informs that the purpose of this study
is to analyze the significant effect of green perceived risk on green purchase intention,
to analyse the significant effect of green viral communication on green purchase
intention, to analyse the significant effect of green perceived value on green purchase
intention, to analyse the significant effect of green satisfaction on green purchase

21
intention to analyse the significant effect of green perceived risk on green satisfaction,
to analyse the significant effect of green perceived value on green satisfaction, to
analyze the significant effect of green viral communication on green satisfaction.

Lin & Zhou (2022) defines that this paper aims to investigate organic food
consumption based on the perspectives of an extended research model by integrating
the theory of consumption value (TCV) and the theory of reasoned action (TRA).
First, we tried to find out how five consumption values of functional, social,
emotional, conditional, and epistemic in classic TCV influence consumption choice
especially in the sustainable consumption domain of organic food, interpreted as
green perceived value (GPV) in the reflective-reflective second-order latent. Second,
as an attempt to extend the classic TRA, this study included trust and perceived
knowledge in the research model in addition to the subjective norm, attitude, and
behavioural intention. A partial least square structural equation method (PLS-SEM)
was adopted to examine our research model with 251 samples. Our results revealed
that GPV significantly affects consumer attitudes. Consumer attitudes and subjective
norms also have a significantly positive effect on purchase intention. As an extended
TRA, GPV has a significantly positive effect on trust while trust significantly impacts
purchase intention. Further, perceived knowledge positively influences attitude and
trust. By jointly considering TCV and TRA, this study proposes several implications
emphasising how GPV and perceived knowledge affects consumers’ organic food
consumption choice based on the role of increased trust.

García-Salirrosas & Rondon-Eusebio (2022) states that this systematic review

research has two objectives: (a) to identify Green Marketing (GM) practices related to
the key variables of consumer purchasing behavior, and (b) to present a model for the
generation of sustainable value by companies based on the results found. The
PRISMA (Preferred Reporting Items for Systematic Reviews and Meta-Analyses)
statement process was followed and Scopus and Web of Science (WoS) sources were
used for the document search. A total of 248 documents were found (Scopus = 110;
WoS = 138), and the final selection was 34 papers. The GM practices found were
placed in five categories: (a) Green products and services; (b) Green business image;
(c) Green advertising; (d) Green purchasing experience; (e) Green marketing mix. The
key variables of purchasing behavior that were found are: Environmental awareness,

22
Green satisfaction, Green attitude, Green purchasing intention, Green purchasing
preference, Word of mouth, Perceived value, Green experiential value, Responsible
consumption, Green engagement, Green trust, Green loyalty, and Green purchasing
decision. Finally, a sustainable value generation model called “Green consumption
cycle for sustainable value” was presented.

Gelderman,Schijns, Lambrechts &Vijgen (2021) says that Many companies have

developed a green marketing strategy, aimed at promoting and selling green
environmental products. While the majority of articles on this topic report on studies
in a business-to-consumer setting, this research focuses on the impact of green
marketing strategies on the satisfaction and loyalty of professional buyers in a
business-to-business setting. The results emphasize the impact and importance of
product quality, product price and corporate image. The most notable and strong
impact on satisfaction and loyalty was found for the salesperson expertise.

Wasaya, Saleem, Ahmad,NazamKhan,&Ishfaq, (2021) sites The purpose of this

research is to assess the effects of green perceived value, green satisfaction, and green
trust on green loyalty. The population of this quantitative explanatory research is the
users of Avoskin, a skincare brand, in Malang City. Using purposive sampling
technique, 214 people were selected as the respondents. The research data was
harvested via Likert-scaled questionnaires and documentations and was analysed
using Structural Equation Modelling – Partial Least Squares (SEM-PLS).This study
finds that green perceived product significantly influences green loyalty, green
satisfaction, and green trust. Further, green satisfaction and green trust were found to
partially mediate the relationship between green perceived value and green loyalty.

Gelderman,Schijns,Lambrechts&Vijgen(2021). States that many companies have

developed a green marketing strategy, aimed at promoting and selling green
environmental products. While the majority of articles on this topic report on studies
in a business-to-consumer setting, this research focuses on the impact of green
marketing strategies on the satisfaction and loyalty of professional buyers in a
business-to-business setting. Hypotheses were tested with survey data from 148 Dutch
professional purchasers in the cleaning industry. The results emphasize the impact and

23
importance of product quality, product price and corporate image. The most notable
and strong impact on satisfaction and loyalty was found for the salesperson expertise.

Chen, Huang,Wang&Chen (2020)This paper discusses the influence of firms’

greenwash on their consumers’ green purchase behaviour and explores the mediation
roles of their green brand image and their consumers’ green brand loyalty. This study
focuses on Taiwanese consumers who have purchased green products. This study uses
structural equation modelling (SEM) to obtain empirical results. The results
demonstrate that firms’ greenwash negatively influences their consumers’ green
purchase behaviour. Besides, this research proves that firms’ greenwash is negatively
related to both their green brand image and their consumers’ green brand loyalty that
would positively affect their consumers’ green purchase behaviour. This paper also
verifies that firms’ green brand image and their consumers’ green brand loyalty
partially mediate the negative relationship between their greenwash and their
consumers’ green purchase behaviour. It means that firms’ greenwash does not only
have a direct negative effect on their consumers’ green purchase behaviour, but also
has an indirect negative effect on it via their green brand image and their consumers’
green brand loyalty. Thus, this research suggests that firms should decrease their
greenwash behaviours and increase their green brand image and their consumers’
green brand loyalty to enhance their consumers’ green purchase behaviour.

Nazim,Sharif, Zeb,Maqbool,Mazhar&Bakhsh(2020) explains Recent research

studies are increasing the awareness of consumer behaviour about green purchase
decisions. Green purchase decisions of consumers can play a key vital role for going
“green”. This study is designed to explore the relationship among the green perceived
value, green perceived risk, green trust, green brand loyalty and customer repurchase
decision of the green products in order to understand the customer intentions towards
the green products and services. Perceived risk has a significant effect on green
purchase decision, green trust and green brand loyalty. Green trust has a significant
effect as a mediator between green perceive value, green perceive risk and green
loyalty. Green trust has a significant effect on green brand loyalty. Green brand
loyalty has a significant effect as a mediator between green trust and green purchase
decisions. This study will be helpful for manufacturers of green products/services and
consumers to keep the environment green.

24
 Juliana,Djaksaputra&Pramono. (2020) informs that This study proposed four
original concepts – green perceived value, green satisfaction, green trust, and green
loyalty – and discussed their relationships. The results showed that enhancing green
perceived value, green satisfaction, and green trust of customers can increase their
green loyalty. Furthermore, this study demonstrated that green perceived value can
not only directly influence green loyalty positively, but also indirectly influence it
positively via green satisfaction and green trust. In addition, this study undertook a
comparative analysis between the original model and the four competing models. The
results indicated that it is imperative to separate green perceived value, green
satisfaction, green trust, and green loyalty from perceived value, satisfaction, trust,
and loyalty. In the environmental era, if companies intend to raise their customers'
green loyalty, they need to invest resources to raise their customers' green perceived
value, green satisfaction, and green trust, rather than perceived value, satisfaction, and
trust.

Hameed,Khan,Islam,Sheikh&Naeem(2020) Explores that .Recent research has

demonstrated an increasing awareness among business communities about the
importance of environmental concerns. Green human resource management (GHRM)
has become a crucial business strategy for organisations because the human resource
department can play a key role in going “green.” This study tests an integrative model
incorporating the indirect effects of HRM practices on employee organisational
citizenship behaviour toward environment (OCBE), through green employee
empowerment. Moreover, this study investigates the moderating effect of individual
green values on OCBE.

Julia&Kassim, (2020) informs that Environmental degradation has been identified

as one of the major impediments for development in Bangladesh. The World Health
Organization has ranked Bangladesh fourth among the most polluted countries in the
world. Faced with this challenge, the Government of Bangladesh introduced the
Green Financing Policy and encouraged banks to participate in offering green
financing as part of the efforts to promote environment-friendly economic activities
for sustainable economic development. This study aims to examine the financial

25
performance of selected commercial banks that offered green financing in Bangladesh
in the period from 2012 to 2014.

ÇavuĢoğlu,Demirağ,Jusuf&Gunardi(2020), Defines that the research was carried

out to determine the effect of attitude towards green behaviour on green image, green
customer satisfaction and green customer loyalty. The universe of the study consists
of customers who have visited green hotels in Turkey. In order to test the hypotheses,
Smart PLS 3 (Partial Least Squares) statistics program was used in the research.
Bootstrapping technique was used to test the hypotheses that were aimed to be
measured in the research. According to the results of the analysis, the attitude towards
green behaviour is on the green image; the green image has also been found to have a
positive effect on green customer satisfaction and green customer loyalty. In addition,
as a result of the analysis, it was determined that green customer satisfaction
positively affected green customer loyalty.

Miroshnychenko, Barontini, Testa, (2019) explains that Companies around the

world adopt green practices with the aim to reduce their environmental impacts and
improve their financial performance. The present study theories about and empirically
examines the impacts of corporate green practices on financial performance. Indexes
of pollution prevention, green supply management, green product development and
ISO 14001 adoption are obtained for each firm in a panel of 3490 publicly-traded
companies from 58 countries over 13 years. Results show that internal green practices
(pollution prevention and green supply chain management) are the major
environmental drivers of financial performance, while external green practices (green
product development) play a secondary role in determining financial performance.
This study provides empirical support for policy-makers promoting environmental
practices that may lead to sustainable economic growth.

Lin, Lobo & Leckie (2019) states that Green loyalty is a crucial factor that
influences consumers' purchase intentions and is essential for the sustainable
development of ecological environments. However, research on this topic is still
scattered, and exploring the research hotspots and trends of green loyalty is vital for
future studies. This systematic literature review clarified the conceptual content,
structure, and measurement of green loyalty. Additionally, the study conducted a

26
 bibliometric analysis of 236 articles on green loyalty from 2002 to 2022 in the Web of
Science database. The content analysis revealed the theoretical basis, antecedent and
outcome variables, and mechanisms of green loyalty, providing important guidance
for future research.

Woo&Kim(2019) defines The purpose of this paper is to apply the multidimensional

construct of green perceived value (GPV) to the buying behaviour of green food
products to enhance the understanding of consumer behaviour intentions and explain
the formation of the intention to buy green food products.

From the above literature review the following theoretical model has been developed
shown in figure 2.2

FIG 2.2 THEORETICAL MODEL OF THE STUDY

2.B Industry and Company Profile

2.3 Industry profile

A bank is a type of financial organisation that serves as a middleman between clients looking
to borrow money and those with extra cash. Because they make it easier for money to move
from savers to borrowers, banks are essential to the expansion and growth of the economy.

27
The financial sector known as banking is diverse and includes a wide range of businesses,
organizations, and services aimed at controlling and assisting the movement of capital and
money within a market. Fundamentally, banking is the process of accepting deposits from
people, organizations, and governments, which are then utilized to give borrowers loans and
other financial services. But banking's reach goes well beyond this fundamental duty; it
encompasses a wide range of operations and positions within the world financial system.

2.3.1 Main functions of a bank:

➢ Acceptance of deposits: One of the main functions of a bank is to accept deposits

from individuals, companies and other persons. These deposits can be of different
types, including savings accounts, checking accounts, time deposits and recurring
deposits. By depositing money in a bank, customers entrust the institution with
money, which the bank then holds on their behalf.

➢ Provision of loans and advances: Banks lend part of the funds deposited with them
to borrowers who need capital for various purposes, such as starting a business,
buying a home or financing education. Banks receive interest income from these
loans, which is the institution's main source of income. The loan can be given as a
personal loan, home loan, business loan or line of credit.

➢ Credit Creation: One of the unique characteristics of banks is the ability to create
credit. When a bank takes out a loan, it essentially creates new money in the form of a
deposit in the borrower's account. This process, called credit creation, expands the
money supply in the economy and stimulates economic activity. However, it also
exposes banks to risks such as credit and liquidity risk.

➢ Making payments easier: Banks offer a variety of payment services that allow
customers to transfer money to other individuals or businesses. These services include
issuing checks, facilitating electronic money transfers, offering debit and credit cards
and providing online banking platforms. By facilitating payment, banks help
businesses and consumers conduct payment transactions efficiently and securely.

28
 ➢ Risk Management: Banks are exposed to various risks including credit risk (risk of
borrower default), interest rate risk (risk of variation in interest rates), and liquidity
risk (risk of not being able to respond soon). Liabilities) and operational risk (risk of
losses due to internal failures or external events). Mitigation of these risks is essential
for the stability and viability of the bank.

➢ Investment Activities: Banks invest part of their assets in financial assets such as
government securities, corporate bonds, and stocks. These investments bring
additional income to the bank and help diversify its income streams. However, with
investment activities, banks are also exposed to market risk (the risk of loss arising
from changes in market conditions) and credit risk (the risk of insolvency of issuers of
financial assets).

2.3.2 Types of Banks:

➢ Commercial Banks: These are traditional banks that provide a wide range of
financial services to individuals, businesses and governments. They accept
deposits, offer loans and offer many other banking products and services.

➢ Investment banks: These institutions specialise in providing financial

services to companies and governments, such as offering securities,
facilitating mergers and acquisitions, and advising on corporate financial
strategies.

➢ Central Banks: Central banks are responsible for formulating and

implementing monetary policy, regulating the banking system and maintaining
financial stability. They often act as a lender of last resort and control the
country's payment system.

➢ Commercial banks: These banks primarily serve individual consumers and

small businesses, offering basic banking services such as savings accounts,
checking accounts, loans and mortgages.

29
 ➢ Internet Banks: With the help of digital technology, Internet banks operate
exclusively through online platforms and provide banking services without the
physical location of offices. They often offer higher deposit rates and lower
fees than traditional banks.

2.3.3 Evolution of Banking

The evolution of banking spans thousands of years, from ancient civilizations to today's
global financial system. Here is a brief overview of the key stages in the development of
banking:

➢ 1. Ancient banking systems (3000 BC - 1st century AD): The origins of banking
can be traced back to ancient civilizations such as Mesopotamia, Egypt and Greece. . ,
and Rome. Early forms of banking emerged in these societies to facilitate trade and
commerce. For example, ancient Mesopotamian temples were warehouses for
agricultural goods and precious metals, effectively functioning as early banks. In
ancient Greece and Rome, moneylenders and bankers provided loans and exchanged
currency to support trade.

➢ 2. Medieval banking (5th-15th century): During the Middle Ages banking in

Europe became more formal. Merchant bankers played an important role in financing
trade between Europe and the Middle East. The Knights Templar, a medieval order,
developed an early banking system that included deposits, money transfer services,
and the issuance of letters of credit. In addition, Italian city-states such as Florence
and Venice emerged as centres of banking and finance, pioneering practices such as
double-entry bookkeeping and paganism.

➢ 3. Early Modern Banking (16th-18th century): During the Renaissance, the

banking and financial sector developed even more when prominent banking families
and financial institutions were founded in different parts of Europe. The rise of
merchant capitalism and the spread of colonial rule accelerated the growth of
international trade and finance. During this period, institutions such as the Bank of
Amsterdam (founded 1609) and the Bank of England (founded 1694) were created to

30
 support government borrowing, manage the issuance of currency, and provide
financial services to merchants and traders.

➢ 4. Industrial Revolution and 19th Century Banking: The Industrial Revolution of

the 18th and 19th centuries transformed economies and societies, leading to major
changes in banking and finance. The proliferation of factories, railroads, and other
industrial enterprises increased the demand for capital, which led to the expansion of
banking services such as corporate lending and investment banking. In the United
States, the creation of a national banking system and the issuance of a national
currency helped promote economic growth and development.

➢ 5. 20th Century Banking: The 20th century saw new innovations and developments
in banking, including the rise of central banking, the proliferation of retail banking
services, and the emergence of modern banking regulations. The Great Depression of
the 1930s led to regulatory reforms aimed at stabilizing the banking system and
protecting depositors' money. In the second half of the century, technological
advances such as computerization and electronic banking revolutionized the industry,
paving the way for ATM networks, credit cards, and online banking platforms.

➢ 6. Globalization and Modern Banking (Late 20th Century - Present): The late
20th century and early 2000s saw the globalization of banking and finance, driven by
technological advances, deregulation and the liberalization of financial markets. This
period saw the rapid expansion of international banks, the growth of complex
financial products and derivatives, and the rise of global financial market
conglomerates. However, it also brought challenges such as the financial crisis,
regulatory oversight, and concerns about systemic risks and financial stability.

➢ 7. Digital transformation: In recent years, the banking industry has undergone

digital transformation in the form of online and mobile banking, fintech innovations
and digital payment solutions. Banks are increasingly using technology to improve
customer experience, streamline their operations and develop new products and
services. Additionally, the growth of block chain technology and cryptocurrencies
could further disrupt traditional banking models and shape the future of finance.

31
In general, the development of banking reflects the dynamic interaction of economic, social,
technical and regulatory factors throughout history. From ancient trading societies to the
digital age of the 21st century, banking has constantly adapted and evolved to meet the
changing needs of individuals, businesses and economies around the world.

2.4 Company Profile

For conducting the study six banks were chosen for research namely AXIS, BOB, CANARA,
KOTAK, SBI and ICICI.

2.4.1 AXIS BANK

Axis Bank is one of India's leading private sector banks offering a wide range of financial
products and services to individuals, businesses and corporations. Axis Bank is a prominent
player in India's banking sector, known for its wide range of financial offerings, technological
prowess, and commitment to customer satisfaction and social responsibility.

Here is an overview of Axis Bank:

1. Establishment and History: Axis Bank was established in 1993 as UTI Bank with its
headquarters in Ahmedabad and corporate office in Mumbai, India. It was promoted by Unit
Trust of India (UTI), Life Insurance Corporation of India (LIC), General Insurance
Corporation of India (GIC) and other leading financial institutions. In 2007, the bank changed
its name to Axis Bank after acquiring the financial services division of Enam Securities.

2. Ownership and Structure: Axis Bank operates as a private sector bank and is listed on
the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). As per
my last update, the major shareholders of Axis Bank are various institutional investors,
mutual funds and foreign institutional investors (FIIs).
3. Products and Services: Axis Bank offers a wide range of banking and financial products
and services including:
Retail Banking: Savings Accounts, Current Accounts, Fixed Deposits, Recurring Deposits,
Loans (Personal Loans, Home). Loans, Car Loans), credit cards, debit cards and digital
banking services.

32
Corporate banking: working capital financing, term loans, trade financing, cash
management services, treasury and foreign exchange services, corporate credit cards and
investment banking solutions.
Wealth Management: Investment advisory, portfolio management, mutual funds, insurance
products and wealth management services for high-net-worth individuals (HNI) and high net
worth clients.

4. Branch Network and Distribution Channels: Axis Bank has an extensive branch and
ATM network in India and operates in key international markets. In addition, the bank offers
digital banking services on its website, mobile application, online banking platform and other
electronic channels, offering its customers convenient access to banking services 24/7.

5. Technology and Innovation: Axis Bank has been at the forefront of technology and
innovation to improve customer experience and operational efficiency. The bank has
introduced various digital initiatives for customer support, such as mobile banking
applications, online banking platforms, instant payment solutions and AI-based chatbots.

6. Corporate Social Responsibility (CSR): Axis Bank is actively engaged in CSR initiatives
focusing on education, healthcare, rural development, environmental sustainability and
community welfare. The bank collaborates with various NGOs, government agencies and
social organisations to support social issues and have a positive impact on society.

2.4.2 STATE BANK OF INDIA

State Bank of India (SBI) is one of the largest and oldest commercial banks in India. It is a
public company headquartered in Mumbai, Maharashtra, India. The State Bank of India (SBI)
is the largest public sector bank in India and one of the largest banks in the world in terms of
assets, branches, and workforce. Here is an overview of SBI:

33
1. History: SBI traces its roots to the early 1800s when the Bank of Calcutta was established
in 1806, which later merged with two other banks to become the Bank of Bengal in 1809.
Later the Bank of Bombay and Bank of Madras were established in 1840 and 1843
respectively. In 1921, these three banks merged to form the Imperial Bank of India, which
was later nationalized in 1955 as the State Bank of India.

2. Ownership and Structure: SBI is a public sector bank majority owned by the
Government of India. According to recent data, the state owns approximately 57% of the
bank's shares. SBI operates through a wide network of branches and subsidiaries across India
and also has a significant presence in international markets.

3. Services and Products: SBI offers its customers a wide range of banking products and
services including retail banking, corporate banking, investment banking, wealth
management, insurance and many more. Its retail banking services include savings accounts,
checking accounts, fixed deposits, loans (such as mortgages, personal loans, auto loans),
credit cards and digital banking solutions.

4. Network: SBI has an extensive network of branches and ATMs across India, making it
one of the largest bank networks in the country. It also has an important position in rural and
urban areas, which promotes financial inclusion and availability of banking services to many
customers.

5. International Presence: SBI has a strong international presence with subsidiaries,

affiliates and representative offices in various countries. It offers a range of international
banking services including trade finance, remittance, foreign exchange and NRI banking to
meet the needs of the Indian diaspora and global businesses.

6. Technology and Innovation: In recent years, SBI has invested in technology and digital
innovation to improve customer experience and make its operations more efficient. It offers
various digital banking services such as online banking, mobile banking and digital payment
solutions. SBI has also been actively involved in promoting financial inclusion with projects
such as the SBI YONO (You Only Need One) program, which offers a wide range of banking
and lifestyle services on a single platform.

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2.4.3 CANARA BANK
Canara Bank is one of India's oldest and largest public sector banks with a rich history
spanning over a century. Here is a brief overview of Canara Bank

1. History: Canara Bank was founded in 1906 by Ammembal Subba Rao Pai in Mangalore,
Karnataka, India under the name "Canara Hindu Permanent Fund". It later evolved into
Canara Bank Limited and finally became a public sector bank in 1969 when it was
nationalised by the Government of India.

2. Ownership and Structure: Canara Bank is a state-owned bank, majority owned by the
Government of India. According to recent information, the state owns about 70 percent of the
bank's shares. Canara Bank operates through a network of branches and offices across India
and is also present in international markets.

3. Services and Products: Canara Bank offers a wide range of banking products and services
to its customers, including retail banking, corporate banking, SME banking, agricultural
banking, international banking and treasury services. Its retail banking offerings include
savings accounts, checking accounts, fixed deposits, loans (such as home loans, personal
loans, vehicles), credit cards and digital banking solutions.

4. Network: Canara Bank has an extensive network of branches and ATMs across India
serving millions of customers in cities, urban areas and rural areas. It has a strong presence in
South India, especially in its home state of Karnataka, but also in other parts of the country.

5. International Presence: Canara Bank has an international presence with branches,

subsidiaries and representative offices in several countries such as UK, USA, UAE, Hong
Kong, China and other countries. It offers various international banking services including
trade financing, money transfer, foreign exchange services and NRI banking services

6. Technology and Innovation: Canara Bank has invested in technology and digital
initiatives to improve customer experience and operational efficiency. It offers digital
banking services such as online banking, mobile banking and digital payment solutions to
meet the changing needs of customers.

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2.4.4 KOTAK BANK
Kotak Mahindra Bank, commonly referred to as Kotak Bank, is one of the prominent private
sector banks in India. Here's a quick overview:

1. Establishment: Kotak Mahindra Bank was founded in 1985 by Kotak Mahindra Finance
Ltd., a non-banking finance company (NBFC) founded by renowned Indian businessman
Uday Kotak. In 2003, it received permission from the Reserve Bank of India (RBI) to operate
as a full-fledged bank.

2. Ownership and Structure: Kotak Mahindra Bank is part of the Kotak Mahindra Group,
India's leading financial conglomerate. The bank is publicly traded on the Indian Stock
Exchange and majority owned by institutional investors and a group of promoters led by
Uday Kotak.

3. Services and Products: Kotak Mahindra Bank offers its customers a wide range of
banking products and services including retail banking, corporate banking, investment
banking, wealth management, insurance and wealth management. Its retail banking offering
includes savings accounts, current accounts, fixed deposits, loans (such as mortgages,
personal loans, car loans), credit cards and digital banking solutions.

4. Network: Kotak Mahindra Bank has an extensive network of branches and ATMs across
India serving millions of customers in cities, urban areas and rural areas. The company has
also expanded its digital banking operations, offering online banking, mobile banking and
digital payment solutions to increase customer convenience and accessibility.

5. Innovation and Technology: Kotak Mahindra Bank has been at the forefront of
innovation and adoption of technology in the Indian banking sector. It has implemented
various digital banking initiatives and technological advancements to improve operational
efficiency, improve customer experience and provide cutting-edge financial solutions. Kotak
Mahindra Bank has also been proactive in engaging fintech partnerships and collaborations to
drive innovation in this space.

6. Corporate Social Responsibility: Kotak Mahindra Bank is committed to Corporate Social

Responsibility (CSR) and undertakes various initiatives in areas such as education,

36
healthcare, environmental sustainability and community development. It operates through
Kotak Education Foundation and Kotak Foundation, which focus on implementing CSR
projects and initiatives to create positive social impact.

7. Awards and Recognitions: Kotak Mahindra Bank has received several awards and
recognitions for its performance, innovation and management practices. Consistently ranked
among the best banks in India, the company has received accolades for its customer service,
product offering and financial performance.

Overall, Kotak Mahindra Bank is a leading player in the Indian banking industry, known for
its strong customer focus, innovative approach and commitment to positive change in the
communities it serves.

2.4.5 ICICI BANK

ICICI Bank is one of the largest private sector banks in India, offering a wide range of
banking and financial services to individual, corporate and corporate customers. Here is a
brief overview:

1. Establishment: ICICI Bank was established in 1994 as a subsidiary of Industrial Credit

and Investment Corporation of India (ICICI), which was incorporated in 1955. It was one of
the first banks in India. In the private sector after the government liberalised the banking
sector.
2. Ownership and Structure: ICICI Bank is a private sector bank listed on the Bombay
Stock Exchange (BSE) and the National Stock Exchange of India (NSE). It was initially
promoted by ICICI Limited but over the years ICICI Bank has become an independent entity.
According to recent data, ICICI Bank has a broad ownership structure with several
institutional and retail investors.
3. Services and Products: ICICI Bank offers a wide range of banking and financial services
including retail banking, corporate banking, investment banking, wealth management,
insurance and financial services. Its retail banking services include savings accounts, current
accounts, fixed deposits, loans (such as mortgages, personal loans, car loans), credit cards and
digital banking solutions.
4. Network: ICICI Bank has a wide network of branches and ATMs across India, making it
easily accessible to customers in cities, urban areas and rural areas. In addition, the company

37
has an important position in the international market and subsidiaries and representative
offices in various countries.

In summary, ICICI Bank is a leading private sector bank in India known for its wide range of
banking services, extensive network, technological innovations, and commitment to corporate
social responsibility. It continues to play a significant role in driving financial inclusion and
economic growth in India and beyond.

2.4.6 Bank Of Baroda

Bank of Baroda (BOB) is a large public sector bank in India with a long history and
significant presence both domestically and internationally. Here is a brief overview of Bank
of Baroda:

1. History: Bank of Baroda was founded by the Maharaja of Baroda, Maharaja Sayajirao
Gaekwad III, in 1908 in the princely state of Baroda (now Vadodara), Gujarat, India. . It
started as a private bank but later became a public sector bank after nationalisation in 1969.

2. Ownership and Structure: Bank of Baroda is a public sector bank majority owned by the
Government of India. It operates as a corporate entity with headquarters in Vadodara,
Gujarat. According to recent information, the state owns a significant part of the bank.

3. Services and Products: Bank of Baroda offers its customers a wide range of banking
products and services including retail banking, corporate banking, international banking,
treasury, wealth management, insurance and digital banking solutions. Its retail banking
offerings include savings accounts, checking accounts, time deposits, loans (such as
mortgages, personal loans, auto loans), credit cards and online banking.

4. Network: Bank of Baroda has an extensive network of branches and ATMs across India
serving customers in urban, semi-urban and rural areas. It has a strong presence in Gujarat, its
home state, as well as other parts of the country. The Bank is committed to expanding its
reach and increasing financial inclusion through its branch network and outreach programs.

5. International Presence: Bank of Baroda has a significant international presence with

subsidiaries and affiliates in various countries around the world. It offers a range of

38
international banking services, including trade finance, remittances, foreign exchange
services and NRI banking services to meet the needs of the Indian diaspora and global
businesses.

6. Technology and Innovation: Bank of Baroda has invested in technology and digital
innovation to improve operational efficiency and improve customer experience. It offers a
variety of digital banking services, including online banking, mobile banking and digital
payment solutions, enabling customers to conveniently access banking services anywhere and
anytime.

39
 CHAPTER – 3
RESEARCH METHODOLOGY

CHAPTER – 3
RESEARCH METHODOLOGY

3.1 Need of the Study

40
“A Study on Green Loyalty in Banking Services is to understand the impact of Green Trust,
Green Practices and Green perceived Value on Green loyalty in banking service. Also to
analyse the significant difference in Green loyalty in banking services with the change in
Age group, Education, Occupation, and Gender.

3.2 Hypothesis of the study

➢ H1: Green Practices have a significant positive impact on Green Loyalty.
➢ H2: Green Perceived Value has a significant positive influence on Green Loyalty
➢ H3: Green Trust Value has a significant positive influence on Green Loyalty
➢ H4: There is a significant change in Green Loyalty with the difference in Age in
Banking services
➢ H5: There is a significant change in Green Loyalty with the difference in Gender in
Banking services
➢ H6: There is a significant variation in Green Loyalty with the difference Education in
Banking services
➢ H7: There is a significant change in Green Loyalty with the difference in Occupation
in banking services.

3.3 Type of the Study

Descriptive in Nature

● It is a survey based study

● The study only does the analysis of data and projects which provides the same results.

● As it does not infer cause and effect relationship

3.4 Source of data collection

41
➢ For this study the primary data is collected through survey conducted using a
questionnaire and the responses were received from the users of both private and
public banks (AXIS, CANARA, SBI, BOB, KOTAK, ICICI)
➢ The data for the study was collected using a structured questionnaire having 21
questions. It is made using Google Forms.
➢ The questionnaire was circulated to respondents through WhatsApp and other
Networking Applications.
➢ The study received 100 responses
➢ Secondary data was collected from research articles , company websites and other
web portals

3.5 Sample details

➢ Population: The population of the study is the users of both private and public bank
➢ Sample: Users the applicants of both private and public banks (AXIS, CANARA,
SBI, BOB, KOTAK,ICICI)
➢ Sampling Method: This study uses the Non-Probability Purposive Sampling method.
➢ Sample Size: The sample was collected from 100 respondents.

Table 3.6 Tools for Analysis:

42
The following tools were used as shown in figure:
Hypothesis Tools for analysis

1. Green Practices have a significant positive impact on Green Correlation

Loyalty. &regression

2. Green Perceived Value has a significant positive influence Correlation

on Green Loyalty &regression

[Link] Trust Value has a significant positive influence on Correlation

Green Loyalty &regression

[Link] is a significant change in Green Loyalty with the Kruskal

difference in Age in Banking services wallis test

[Link] is a significant change in Green Loyalty with the Man Whitney U-test
difference in Gender in Banking services

[Link] is a significant variation in Green Loyalty with the Kruskal

difference Education in Banking services wallis test

7. There is a significant change in Green Loyalty with the Kruskal

difference in Occupation in banking services. wallis test

43
 CHAPTER 4
RESULTS AND ANALYSIS

CHAPTER 4
RESULTS AND ANALYSIS

44
 4.1 Demographic variable used in the study Table
4.1.1 Age
From the collected responses it is observed that the major respondents are of the age group of
20-30(65.3%) and few responses are collected from the people of the age group of 30-
40(24%) and very fewer responses were collected from the age group of >40(11%).

Table 4.1.1 – Distribution of respondents of age group

Age group Responses

20-30 24

30-40 66

>40 11

Figure 4.1.1 – Distribution of respondents of age group

4.1.2 Gender
The responses for the above study are collected from two genders male and female of which
43.3% of responses were received from the male gender and 56.4% of responses were
received from the female gender.

45
 Table 4.1.2 Distribution of respondents of gender group

Gender group Responses

Female 57

Male 44

Figure 4.1.2 Distribution of respondents of gender group

4.1.3 Occupation
The responses for the above study are collected from three different occupations namely self-
employed, employed, and unemployed out of which 42% are unemployed, 26% employed
and 33% are self-employed.

46
 Table 4.1.3 Distribution of respondents of Occupation group

Occupation Responses

unemployed 42

Self employed 33

employed 26

Figure 4.1.3 Distribution of respondents of Occupation group

4.1.4 Education
The responses for the above study are collected from three different qualification groups
namely undergraduate, graduate, and post-graduate out of which 4% of the responses were

47
received from undergraduates, 30% the responses were received from graduates, and 60% of
the responses were received from postgraduates.

Table 4.1.4 Distribution of respondents of Education group

Education Responses

Undergraduate 4

graduate 37

Post graduate 60

Figure 4.1.4 Distribution of respondents of Education group

4.2 Results and Analysis

H1: Green Practices has a significant positive impact on Green Loyalty in Banking
Services. After conducting a linear regression analysis, it was found that there is significant

48
relationship (r = 0.612) between the Green Loyalty and the Green Practices. The coefficients
for independent variable were statistically significant at the 0.05 level, and the R-squared
value (r^2 =0.369) indicated that the model explained of the variance in the dependent
variable. Therefore, the results of the regression analysis are accepted. It can be concluded
that the Green Practices has significant impact on the dependent variable. The values are
indicated in table.1, table2.

Table 4.2.1 – Model Summary of Green Practices

Table 4.2.2 – ANOVA of Green Practices

H2: Green Perceived Value has a significant positive influence of Green perceived Value
on Green Loyalty in Banking Services.

49
After conducting a linear regression analysis, it was found that there is significant
relationship (r = 0.688) between the Green Perceived Value and the Green Loyalty. The
coefficients for Green Perceived Value variable were statistically significant at the 0.05 level,
and the Rsquared value (r^2 =0.468) indicated that the model explained 85% of the variance
in the Green Loyalty. Therefore, the results of the regression analysis are accepted. It can be
concluded that the green Perceived Value has significant impact on the Green Loyalty. The
values are indicated in table.3, table.4.

Table 4.2.3 – Model Summary of Green Perceived Value

Table 4.2.4 – ANOVA of Green Perceived Value

H3: Green Trust has a significant positive effect of Green perceived Value on Green
Loyalty in Banking Services.

50
After conducting a linear regression analysis, it was found that there is significant
relationship (r = 0.827) between the Green trust and the Green Loyalty. The coefficients for
Green Trust were statistically significant at the 0.05 level, and the R-squared value (r^2
=0.680) indicated that the model explained 85% of the variance in the Green Loyalty.
Therefore, the results of the regression analysis are accepted. It can be concluded that the
Green Trust has significant impact on the Green Loyalty. The values are indicated in table.5,
table.6

Table 4.2.5 – Model Summary of Green Trust

Table 4.2.6 – ANOVA of Green Trust

H4: There is a significant change in Green Loyalty with the difference in Age in
banking services.

51
Kruskal-Wallis test was conducted on the data and it was found that there is no significant
difference in the distribution of the variable among the three groups (p-=0.236 p>0.05).
Therefore we reject the results of the Kruskal-Wallis test and conclude that there is no
significant difference in the distribution of the variable among the three groups in this
population. The values are indicated in table.7

Figure 4.2.7 – Hypothesis Test Summary of Age

H5: There is a significant change in Green Loyalty with the difference in Gender in
banking services

52
After conducting a Wilcoxon-Mann-Whitney U test, it was found that there is no significant
difference between the two groups (U= 0.963, p>0.05). Therefore the hypothesis is rejected.
It could be concluded that there is no significant difference in the distribution of the variable
between the two groups in this population. The values are indicated in table8.

Figure 4.2.8 – Hypothesis Test Summary of Gender

H6: There is a significant variation in Green Loyalty with the difference Education in
banking services

53
After conducting a Wilcoxon-Mann-Whitney U test, it was found that there is no significant
difference between the two groups (U= 0.373, p>0.05). Therefore the hypothesis is rejected.
It could be concluded that there is no significant difference in the distribution of the variable
between the two groups in this population. The values are indicated in table9.

Figure 4.2.9 – Hypothesis Test Summary of Education

H7: There is a significant Difference in Green Loyalty with the change occupation in
Banking services After conducting a Wilcoxon-Mann-Whitney U test, it was found that

54
there is no significant difference between the two groups (U= 0.312, p>0.05). Therefore the
hypothesis is rejected. It could be concluded that there is no significant difference in the
distribution of the variable between the two groups in this population. The values are
indicated in table 10

Figure 4.2.10 – Hypothesis Test Summary of Occupation

55
 CHAPTER 5
FINDINGS SUGGESTIONS AND CONCLUSION

CHAPTER 5
FINDINGS SUGGESTIONS AND CONCLUSION

56
 5.1 Findings of Demographic Variables

➢ From the collected responses it is observed that the major respondents are of the age
group of 20-30(65.3%) and few responses are collected from the people of the age
group of 30-40(24%) and very fewer responses were collected from the age group of
>40(11%).

➢ The responses for the above study are collected from two genders male and female of
which 43.3% of responses were received from the male gender and 56.4% of
responses were received from the female gender.

➢ The responses for the above study are collected from three different qualification
group’s namely undergraduate, graduate, and post-graduate out of which 4% of the
responses were received from undergraduates, 30% the responses were received from
graduates, and 60% of the responses were received from postgraduates.

➢ The responses for the above study are collected from three different occupations
namely self-employed, employed, and unemployed out of which 42% are
unemployed, 26% employed and 33% are self-employed.

5.1.2 Findings of the Hypothesis tested

57
➢ H1: Green Practices has a significant positive impact on Green Loyalty in
Banking Services. After conducting a linear regression analysis, it was found that
there is significant relationship (r = 0.612) between the Green Loyalty and the Green
Practices. The coefficients for independent variable were statistically significant at the
0.05 level, and the R-squared value (r^2 =0.369) indicated that the model explained of
the variance in the dependent variable. Therefore, the results of the regression analysis
are accepted. It can be concluded that the Green Practices has no significant impact on
the dependent variable. The values are indicated in table.1, table2.

➢ H2: Green Perceived Value has a significant positive influence of Green

perceived Value on Green Loyalty in Banking Services.
After conducting a linear regression analysis, it was found that there is significant
relationship (r = 0.688) between the Green Perceived Value and the Green Loyalty.
The coefficients for Green Perceived Value variable were statistically significant at
the 0.05 level, and the Rsquared value (r^2 =0.468) indicated that the model explained
85% of the variance in the Green Loyalty. Therefore, the results of the regression
analysis are accepted. It can be concluded that the green Perceived Value has no
significant impact on the Green Loyalty. The values are indicated in table.3, table.4.

➢ H3: Green Trust has a significant positive effect of Green perceived Value on
Green Loyalty in Banking Services.
After conducting a linear regression analysis, it was found that there is significant
relationship (r = 0.827) between the Green trust and the Green Loyalty. The
coefficients for Green Trust were statistically significant at the 0.05 level, and the R-
squared value (r^2 =0.680) indicated that the model explained 85% of the variance in
the Green Loyalty. Therefore, the results of the regression analysis are accepted. It
can be concluded that the Green Trust has no significant impact on the Green Loyalty.
The values are indicated in table.5, table.6

➢ H4: There is a significant change in Green Loyalty with the difference in Age in
banking services.

58
 Ruska-Wallis test was conducted on the data and it was found that there significant
difference in the distribution of the variable among the three groups (p-=0.236
p<0.05). Therefore we accept the results of the Krystal-Wallis test and conclude that
there is a significant difference in the distribution of the variable among the three
groups in this population. The values are indicated in table.7

➢ H5: There is a significant change in Green Loyalty with the difference in Gender
in Banking services
After conducting a Wilcoxon-Mann-Whitney U test, it was found that there is/ there is
no significant difference between the two groups (U= 0.963, p<0.05). Therefore the
hypothesis is accepted. It could be concluded that there is a significant difference in
the distribution of the variable between the two groups in this population. The values
are indicated in table8.

➢ H6: There is a significant variation in Green Loyalty with the difference

Education in Banking services
After conducting a Wilcoxon-Mann-Whitney U test, it was found that there is/ there is
no significant difference between the two groups (U= 0.373, p<0.05). Therefore the
hypothesis is accepted. It could be concluded that there is a significant difference in
the distribution of the variable between the two groups in this population. The values
are indicated in table9.

➢ H7: There is a significant Difference in Green Loyalty with the change in

Banking Services After conducting a Wilcoxon-Mann-Whitney U test, it was found
that there is/ there is no significant difference between the two groups (U= 0.312,
p<0.05). Therefore the hypothesis is accepted. It could be concluded that there is a
significant difference in the distribution of the variable between the two groups in this
population. The values are indicated in table 10.

5.2 Suggestions

59
⮚ Based on the research findings, it was discovered that Green practices significantly

influences green loyalty. Consequently, it is recommended to managers that they

focus on enhancing green practices levels among customers. This can be achieved by
various actions such as Going paperless, Grow online and mobile banking options,
and Support sustainable businesses.

⮚ In light of the research findings, it's evident that green perceived value significantly

influences green loyalty. Consequently, it is advisable for managers to implement

strategies aimed at enhancing green perceived value levels among customers. These
strategies should involve offering investment options which focuses on renewable
energy, and socially responsible companies. Provide information on how customers'
financial choices can impact the environment and by targeting green-conscious
customers

⮚ According to the research results, it's clear that green trust is a critical determinant of

green loyalty. To capitalize on this insight, managers should adopt tailored strategies
aimed at boosting green trust among customers. This involves ensuring regularly
publish transparent reports on your environmental performance, including carbon
footprint and progress on goals. Environmental policies and goals should be clearly
communicated.

⮚ The research findings underscore that there is no significant change of age group on

green loyalty. Thus managers are advised to develop strategies that cater to the
diverse preferences of different age demographics. Which involves effective
communication channels, tailoring marketing efforts, adapting products and services,
ensuring technology accessibility, engaging with communities,

⮚ In the project studying green loyalty in banking service, it was determined that

education qualification doesn’t impact green loyalty. Hence, it is recommended that

managers do not overly prioritize education qualification when providing services to

60
 customers. Instead, attention should be directed towards other factors known to
enhance green loyalty, such as personalized assistance, efficient service delivery.

⮚ In the study on green loyalty in banking services, we found that gender factor doesn’t

have effect on green loyalty. Hence managers don't need to worry too much about
whether a customer is male or female when they're deciding how to help them.
Instead, they should focus on things like making sure things are done quickly and
well. By doing these things, managers can make sure that all customers have a good
experience, no matter their gender, which makes them satisfied and coming back for
more services .

⮚ In the study, it was found that there is no significant difference in Green Loyalty with

the change occupation in Banking services. So, managers Instead, they should focus
on other things that we found can improve customer satisfaction, like ensuring quick
and efficient service. By concentrating on these aspects, managers can ensure that all
customers have a positive experience, regardless of their occupation, which will
ultimately lead to higher satisfaction in the Banking services

61
 5.3 CONCLUSION

The above report is the study on Green loyalty in banking services was conducted to
understand the role of Green practices, Green trust and Green perceived value on Green
Loyalty in banking services and to identify the significant influence of demographic variables
on banking services.
The variables used in the study are Green practices are the activities or actions that are
employed by an organization with the aim of protecting the environment and reducing its
carbon emissions. Green banking means promoting environmentally sound practices and
reducing a bank's carbon footprint. It comes in several forms. Using online banking instead of
bank branches, paying bills online instead of mail, opening commercial deposits and money
market accounts at online banks, etc.
The remaining variables are "Green trust" typically refers to the confidence and belief that
consumers have in environmentally friendly or sustainable products, services, brands, or
practices. It's the level of assurance consumers feel towards the environmental claims made
by companies or organizations. This trust is often built through transparent communication,
credible certifications, and consistent demonstration of environmental responsibility.
Essentially, it's about consumers feeling assured that the products they're purchasing or the
companies they're supporting are genuinely contributing to environmental preservation or
sustainability efforts and the other variable green perceived value which "Green perceived
value" refers to the perceived worth or benefit that consumers assign to products or services
that are environmentally friendly or sustainable. It encompasses the notion that consumers
may place additional value on goods or services that are produced, packaged, or distributed in
a manner that minimizes harm to the environment or promotes sustainability.
The above study was conducted to identify the significant influence of green practices, green
trust, and green perceived value on green loyalty for which analysis tools such as regression
and correlation tests were used, and to identify the impact of demographic variables namely
age, education, and occupation Kruskal Wallis test was used and for gender, Wilcoxon Mann
Whitney U test was used
For collecting responses for the study six banks were selected this study was conducted in the
Hyderabad region and the sample was collected from 100 respondents of Age Groups (20-30,

62
30-40, >50), education Qualifications (Undergraduate, Graduate, and Post Graduate),
occupation (unemployed, employed, self-employed) and gender (male, female)
From the above study, it was found that green practices, green trust, and green perceived
value have a significant influence on green loyalty whereas other demographic variables such
as age, gender, education, and occupation don’t have any impact on green loyalty.
This study may not find an accurate relationship between the variables because the study was
limited to only 100 there are some other constraints such as this study being limited to the
Hyderabad region which may not give the accurate results because the people in different
regions has different perspective so this study can be conducted further by increasing the size
of the sample and also by collecting more diversified responses from different regions.

63
 CHAPTER 6
BIBLIOGRAPHY

64
 CHAPTER 6
BIBLIOGRAPHY

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67
CHAPTER 7
ANNEXURES

68
Questions

1. Does your bank apply paperless transactions with customers?

2. Does your bank save water usage?

3. Does your bank rely on technology to avoid wasting resources?

4. Does your bank promote the development of a green environment for

customers?

5. Does your bank distribute finances that supports green environmental

development?

69
6. To what extent do you think green practices of your bank generate benefits for
society and environment?

7. How would you rate the impact of your preferred bank's green practics making
both business and the environment valuable?

8. Do you agree that your preferred bank's attention to environmental affairs is

better than other's?

9. Do you think your preferred bank is better at actualizing the green financial
system than other banks?

70
10. How much trust do you place in the green practices of your preferred bank?

11. Do you think your bank's performance is reliable in terms of green practices?

12. How pleased are you with the decision of your preferred bank to implement
green practices?

13. Are you satisfied with the transactions at your bank considering its positive
effect in greening the environment?

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14. How likely are you to prefer using various kinds of bank's products due to their
positive effect on green environment?

15. To what extent would you recommend colleagues to become customers of your
bank based on its strong commitment to the green environment?

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