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Abstract Green banking is an integral part of sustainable finance, but its adoption is highly divergent across markets. While the existing literature extensively documents green banking practices in developed economies, little is known about its implementation, regulatory challenges, and institutional adaptation in emerging markets like India. The present study addresses this gap by analysing the evolution of green banking practices in Indian financial institutions. The study employs two theoretical approaches: (1) Institutional Theory to analyse how uncertainty in regulations will influence green banking adoption and (2) Stakeholder Theory to study how Indian banks interact with their governments, investors, and customers to strike the right balance between profitability and sustainable commitments. The findings from the study suggest that although Indian banks have introduced green banking in diverse ways, standardization of policies on sustainability as well as the framework for green credits is significantly missed. The study underscores the need for policy interventions, enhanced regulatory oversight, and structured financial incentives to accelerate the adoption of green banking. Future research should explore the economic impact of green banking through quantitative models and conduct comparative studies to benchmark India’s progress against global best practices.
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