Authors : Dr. Sachin Awasthi; Prity Deshbhrtar

Volume/Issue : Volume 10 - 2025, Issue 4 - April

Google Scholar : https://tinyurl.com/4648vzc4

DOI : https://doi.org/10.38124/ijisrt/25apr744

Note : A published paper may take 4-5 working days from the publication date to appear in PlumX Metrics, Semantic Scholar, and ResearchGate.

Abstract : The global shift toward environmental sustainability necessitates a rethinking of investment trends, especially in sectors traditionally dominated by fossil fuels. Despite growing awareness, financial flows into renewable energy and sustainable infrastructure remain inconsistent, posing risks to the achievement of global climate goals. Green finance— comprising tools such as green bonds, eco-banking, and sustainable funds—has emerged as a transformative mechanism in bridging this financial gap. However, fossil fuel investment still overshadows green alternatives, particularly in developing economies. This study examines the integration of green finance into India's money market, assessing its effectiveness in channeling resources toward climate-resilient and environmentally sound investments. It highlights the evolving role of the Reserve Bank of India, regulatory bodies, and financial institutions in supporting the green finance ecosystem. By leveraging empirical data and global benchmarks, this paper offers a comprehensive analysis of how the money market can act as a powerful platform to promote sustainable development in India.

Keywords : Green Finance, Money Market, Sustainable Development, Green Bonds, Central Banks, Green Banking, Climate Policy, Financial Innovation, Climate Risk.

References :

1. Appah, E., Tebepah, S. F., & Eburunobi, E. O. (2024). Green banking practices and green financing of listed deposit money banks in Nigeria. British Journal of Multidisciplinary Research.
2. Biju, M., Raghavendra Babu, J., & Pon, S. P. (2024). Green finance and sustainable development in India. Future Business Trends Journal.
3. Nenavath, S., & Mishra, S. (2023). Impact of green finance and fintech on sustainable economic growth: Empirical evidence from India. Heliyon.
4. Abbas, J., Wang, L., Belgacem, S. B., Pawar, P. S., & Najam, H. (2023). Investment in renewable energy and electricity output: Role of green finance, environmental tax, and geopolitical risk: Empirical evidence from China. Energy.
5. Ozili, P. K. (2022). Green finance research around the world: A review of literature. International Journal of Green Economics.
6. Sahoo, A. (2022). Overview of money market in India: An empirical analysis. The Management Accountant Journal.
7. Ghosh, K. (2022). Green finance initiatives in India. IUP Journal of Accounting Research & Audit Practices.
8. Sarkar, D., & Latta, A. (2022). Role of banking system in green finance in the context of India: An analysis. Asian Journal of Management.
9. Dikau, S., & Volz, U. (2021). Central bank mandates, sustainability objectives and the promotion of green finance. Ecological Economics.
10. Sachs, J. D., Woo, W. T., Yoshino, N., & Taghizadeh-Hesary, F. (2019). Why is green finance important?
11. Jha, B., & Bakhshi, P. (2019). Green finance: Fostering sustainable development in India. International Journal of Recent Technology and Engineering.
12. Dikau, S., & Volz, U. (2018). Central banking, climate change and green finance.
13. Volz, U. (2017). On the role of central banks in enhancing green finance.
14. Soundarrajan, P., & Vivek, N. (2016). Green finance for sustainable green economic growth in India. Agricultural Economics.