For banks,green is the new black

India's leading banks are seizing opportunities in an emerging low-carbon economy.Last December IndusInd Bank inaugurated Mumbai's first solar-powered ATM as part of its 'Green Office Project' campaign titled 'Hum aur Hariyali'. State Bank of India,as part of its green banking policy ,plans to set up captive windmills to generate 15 Mw of power in Tamil Nadu, Maharashtra and Gujarat.A new study by PricewaterhouseCoopers(PwC) commissioned by the Indian Bank's Association(IBA) and The Climate Group confirms that India's leading banks are recognising and seizing opportunities in an emerging low-carbon economy. For instance, in coal technologies, ICICI Bank introduced innovative concepts like deep benefication of coal(coal washeries) and coal bed methane. It is seen that public sector banks are less involved in voluntary initiatives and appear to be postponing action until regulation is in place. However, as an exception, The new Green Home Loan Scheme from SBI will support environmentally -friendly residential projects and offer various concessions.These loans will be sanctioned for projects rated by the Indian Green Building Council (IGBC) and offer several financial benefits-- a 5% concession in margin,0.25%concession in interest rate and processing fee waiver.(BS 22052010)