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WOMEN ENTREPRENEURSHIP THROUGH GREEN BANKING IN INDIA

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 PUBLICATION OF EDITED ISBN BOOK
BUSINESS MANAGEMENT PRACTICES IN EMERGING INDIAN
ECONOMY

Organized By
DEPARTMENT OF MANAGEMENT STUDIES
V.H.N.SENTHIKUMARA NADAR COLLEGE (Autonomous)
[Re-accredited with ‘A’ Grade by NAAC]
VIRUDHUNAGAR-626001
TAMIL NADU

Title of the Paper: WOMEN ENTREPRENEURSHIP THROUGH

GREEN BANKING IN INDIA
Author:
Dr. K. Karthikeyan,
Associate Professor of Commerce,
PG and Research Department of Commerce,
Vivekananda College, Thiruvedakam West, Madurai-625234.
Mobile : 98 65 07 49 94
Email-ID: karthikeyan.madurai@gmail.com

Co-Author:
M. Dinesh Kumar,
Ph.D Scholar (Full Time),
PG and Research Department of Commerce,
Vivekananda College, Thiruvedakam West, Madurai-625234.
Mobile : 97 87 49 48 63
Email-ID: dkumar0784@gmail.com
“Business Management Practices in Emerging Indian Economy” in the organized by the Department
of Management Studies, VHNSN College, Virudhunagar, on 16th February 2017.

WOMEN ENTREPRENEURSHIP THROUGH GREEN

BANKING IN INDIA
ABSTRACT
In the modern Economical period of India, women empowerment in commercial level
has its eventual place in the veracity of Globalization. To sanction them with ethics of
entrepreneurship, Indian government has introduced National Skill Development Policy and
National Skill Development Mission for their development. Moreover, India has a very good
infrastructure of Information Technology. So, in the field of business and money transaction;
adoption of Green Banking Policies is vital to the development and success of women
entrepreneurs. Women Entrepreneurs are who initiate, organize and co-operate a business
enterprise with possible successes. They have achieved remarkable success. The only thing
they are in need to strengthen them in technical advancement and the use of core Green
banking procedures. To solve specific problems, Women Cell is important to provide
coordination and assistance to women entrepreneurs. In enhancing the talents of the
entrepreneurs, the realization of these facts by the banks will certainly make them quickly
adopt the concept of Green Banking. In regard to the development of Green Banking policies
in India, women empowerment is vital for the emerging women entrepreneurs to get
development and success in business. Thus, the future financial development of India lies on
the empowerment of women entrepreneurs.
Keywords: Women entrepreneur, Women empowerment, Green Banking, Indian Banking,
Eco-Friendly Economy.
INTRODUCTION
In the present Economical Era of India, women empowerment in entrepreneurial level
has its ultimate place in the reality of Globalization. The recent polices on the framework of
institution, entrepreneurial skills development, vocational education and training has paved a
new path in the empowerment of women. Even the women cover only a minimum place in
economic sectors. There is certain, a group of successful women entrepreneurs exist in the
social and economic sectors of India. To empower them with values of entrepreneurship,
Indian government has also introduced National Skill Development Policy and National Skill
Development Mission in the year 2009 and extends its warm welcome in every five-year
plans till to the Twelfth-Five year Plan to empower them. These new policies of Indian
government again initiated the era of entrepreneurial empowerment among women. The

Karthikeyan, K., & Dineshkumar, M. (2017). Women Entrepreneurship through Green Banking in
India. Organized by the Department of Management Studies, VHNSN College, Virudhunagar, in the
edited book on Business Management Practices in Emerging Indian Economy, ISBN: 978-93-81723-
64-7, F67-F76.
“Business Management Practices in Emerging Indian Economy” in the organized by the Department
of Management Studies, VHNSN College, Virudhunagar, on 16th February 2017.

present increase of women in the business field as entrepreneurs is an epoch making

development in the empowerment of women in the development of business in India. In such
development, India has a very good infrastructure in Information Technology. So, in the field
of business, adoption of Green Banking Policies is vital to the development and success of
women. In doing them some factors may hurdle them in many facets. Hence, The Paper
concentrates on the problems and challenges faced by women entrepreneurs in adopting
Green initiatives and to overcome them.
WOMEN ENTREPRENEUR
Woman Entrepreneur may be defined as a woman or group of woman who initiate,
organize and co-operate a business enterprise. Government of India has defined women
entrepreneurs as: an enterprise owned and controlled by a woman having a minimum
financial interest of 51% of the capital and giving at least 51% of employment generated in
the enterprise to women. Now, the Indian women are no longer treated as show pieces at
home. They are also enjoying the impact of globalization and making an influence not only
on domestic but also on business spheres. Women are doing a wonderful job with a striking
balance between their home and career. Women entrepreneurs are key players in any
developing country. In the recent years, in India, Women role in terms of their share in
business has been increasing.
CHARACTERISTICS OF WOMAN ENTREPRENEURS IN INDIA
Woman entrepreneur in India has various qualities. A woman or a group of women
manages the whole business of enterprise. She prepares various plans and executes them
under her own supervision and control. A woman entrepreneur must provide at least 51
percent of the employment generated in her enterprise to women. The most critical skill
required for industrial development is the ability of building a sound organization. A woman
entrepreneur assembles, co-ordinates, organizes and manages the other factors namely land,
labour and capital. It is essential to be self confident for a woman entrepreneur. She ought to
have faith in herself and in her abilities. She should have the confidence to implement,
change and courage to admit and learn from her own the mistakes and to correct them. The
main function of a woman entrepreneur is to make decision regarding the activities of her
enterprise. A woman entrepreneur must be clear and creative in decision making process. A
woman entrepreneur is one who incubates new ideas, starts her enterprise with these ideas
and provides added value to society based on their independent initiative and willingness to
work hard. Leadership quality is one of the most important characteristics of a woman
Karthikeyan, K., & Dineshkumar, M. (2017). Women Entrepreneurship through Green Banking in
India. Organized by the Department of Management Studies, VHNSN College, Virudhunagar, in the
edited book on Business Management Practices in Emerging Indian Economy, ISBN: 978-93-81723-
64-7, F67-F76.
“Business Management Practices in Emerging Indian Economy” in the organized by the Department
of Management Studies, VHNSN College, Virudhunagar, on 16th February 2017.

entrepreneur. It is the process of influencing and supporting others to work enthusiastically

towards achieving objectives. She has to follow the principle; Hard-work is the key to
success. She must not be money hungry. She should work for challenge, accomplishment and
service to others with optimism. She should approach her venture with a hope of success and
attitude for success rather than with a fear of failure. The positive thinking of woman
entrepreneur can turn the situation favorable to her. The success of an enterprise largely
depends upon the ability of woman entrepreneur to cope with latest technology. Technical
competency refers to the ability to devise and use the better ways of producing and marketing
goods and services. In such situations women need to get proper IT based training to get
success. In the present awareness on environment dilapidation green banking policy measures
are in vogue. In India, it remain as a question but the adoption of green banking policies by
the women entrepreneurs in their concerns would give them vast connection and greater
advantage in innumerable ways.
PROBLEMS FACED BY WOMEN ENTREPRENEURS IN INDIA
1. Problem of Finance
Finance is very important for any enterprise; even it may be big or small. Women
entrepreneurs suffer from shortage of finance on two counts. Firstly, women do not generally
have property on their names to use them. Secondly, the banks also consider women less
credit-worthy and discourage women borrowers. Thus, women enterprises fail due to the
shortage of finance.
2. Shortage of Raw Material
Most of the women enterprises are plagued by the shortage of raw material and
necessary inputs.
3. Rigid Competition
Women entrepreneurs do not have organizational set-up to pump in lot of money for
canvassing and advertisement. This ultimately results in the liquidation of women enterprises
amidst rigid competition.
4. Partial Mobility
Women mobility in India is highly limited due to partial mobility. Humiliating
attitude towards women compels them to give up idea of starting an enterprise.
5. Family Ties
In India, it is mainly a women’s duty to look after the children and other members of
the family. Support and approval of husbands seem necessary condition for women’s entry
Karthikeyan, K., & Dineshkumar, M. (2017). Women Entrepreneurship through Green Banking in
India. Organized by the Department of Management Studies, VHNSN College, Virudhunagar, in the
edited book on Business Management Practices in Emerging Indian Economy, ISBN: 978-93-81723-
64-7, F67-F76.
“Business Management Practices in Emerging Indian Economy” in the organized by the Department
of Management Studies, VHNSN College, Virudhunagar, on 16th February 2017.

into business. The educational level and family background of husbands’ positively influence
women’s entry into business activities.
6. Lack of Education
In India, around three-fifths (60%) of women are still illiterate. Illiteracy is the root
cause of socio-economic problems. Thus, lack of education creates one type or other
problems for women in the setting up and running of business enterprises.
7. Male-Dominated Society
Male chauvinism is still the order of the day in India. Women are not treated equal to
men. This serves as a barrier to women entry into business.
8. Low Risk-Bearing Ability
In India, women lead a protected life. They are less educated and economically not
self-dependent. Problems such as inadequate infrastructural facilities, shortage of power, high
cost of production, social attitude, low need for achievement and socio-economic constraints
also hold the women back from entering into business.
9. Social Barriers
Castes and religions dominate with one another and hinder women entrepreneurs. In
rural areas, they face more social barriers.
10. Lack of Entrepreneurial Aptitude
Lack of entrepreneurial aptitude is a matter of concern for women entrepreneurs.
Even after attending various training programmes on entrepreneurship. Women entrepreneurs
fail to tide over the risks and troubles even after getting such attitude.
11. Limited Managerial Ability
Women entrepreneurs are not efficient in managerial functions like planning,
organizing, controlling, coordinating, staffing, directing, motivating etc of an enterprise.
Therefore, less and limited managerial ability of women has become a problem.
12. Legal Formalities
Fulfilling the legal formalities required to run an enterprise becomes an upheaval to a
women entrepreneur because of corrupt practices in government offices and procedural
delays for various licenses, electricity, water and shed allotments. Such situations make
women entrepreneurs find it hard to concentrate on the smooth working of the enterprise.
13. Exploitation by Middle Men

Karthikeyan, K., & Dineshkumar, M. (2017). Women Entrepreneurship through Green Banking in
India. Organized by the Department of Management Studies, VHNSN College, Virudhunagar, in the
edited book on Business Management Practices in Emerging Indian Economy, ISBN: 978-93-81723-
64-7, F67-F76.
“Business Management Practices in Emerging Indian Economy” in the organized by the Department
of Management Studies, VHNSN College, Virudhunagar, on 16th February 2017.

Since women cannot run around for marketing, distribution and money collection,
they have to depend on middle men. Middle men tend to exploit them in the guise of helping.
Hence, it results in less sales and lesser profit.
14. Lack of Self Confidence
Women entrepreneurs, because of their nature, lack of self-confidence; they strive
hard to strike a balance between managing a family and managing an enterprise.
15. Startup Investing
A strong team and well-prepared business plan are the two elements that will give
investors confidence in their idea and make them driven to invest in your business.
16. Emotional Choices
Women tend to focus on personal relationships within business and it is an excellent
method that offers us an advantage.
17. Stop Thinking Like a Man
One of the challenges which many women face in business is the idea that we must
behave the same way as the male counterparts. Be yourself, and don’t be intimidated when
the men outnumber you but let their intuition to guide their initiatives will do great.
18. Family Matters
The key to success is finding the time for both the family and job.
19. Believing in Yourself
One of the hardest aspects of being a woman entrepreneur is to believe in their own
achievements.
INITIATIVES FOR WOMEN ENTREPRENEURS IN INDIA
Women entrepreneurs have achieved remarkable success. For them, the Micro, Small
& Medium Enterprises Development Organisation (MSME-DO), the various State Small
Industries Development Corporations (SSIDCs), the nationalised banks and even NGOs are
conducting various programmes including Entrepreneurship Development Programmes
(EDPs). To cater to the needs of women entrepreneurs, who may not have enough
educational skills, MSME-DO has introduced process-product oriented EDPs in areas like
TV repairing, printed circuit boards, leather goods, and screen printing etc. To solve specific
problems, the Office of DC (MSME) has also opened a Women Cell to provide coordination
and assistance to women entrepreneurs. There are also several other schemes of the
government like:

Karthikeyan, K., & Dineshkumar, M. (2017). Women Entrepreneurship through Green Banking in
India. Organized by the Department of Management Studies, VHNSN College, Virudhunagar, in the
edited book on Business Management Practices in Emerging Indian Economy, ISBN: 978-93-81723-
64-7, F67-F76.
“Business Management Practices in Emerging Indian Economy” in the organized by the Department
of Management Studies, VHNSN College, Virudhunagar, on 16th February 2017.

1. Income Generating Scheme (Department of Women and Child Development) which

provides assistance for setting up training-cum-income generating activities for needy women
to make them economically independent.
2. The Small Industries Development Bank of India (SIDBI) has been implementing two
special schemes for women namely:
I. Mahila Udyam Nidhi (an exclusive scheme for providing equity to women entrepreneurs)
II. Mahila Vikas Nidhi (offers developmental assistance for pursuit of income generating
activities to women)
The SIDBI has also taken initiative to set up an informal channel for credit needs,
training for credit utilization, credit delivery skills for the executives of voluntary
organisations working for women. The Central Social Welfare Board offer grants for setting
up a production unit is also available under Socio-Economic Programme.
GREEN BANKING IN INDIA
India is gradually on development in 21st Century and the IT sector plays the most
important role in India’s growth in business. Indian business industry faces the challenges of
controlling environmental impact of their business (i.e. easy way of money transfer, reducing
pollution and emission of their clients). Though government has been trying to address the
issue by framing environmental legislations and encouraging industry to follow
environmental technologies and practices, they would not be enough to give the poor track
records of enforcement, public awareness and inability to derive competitive advantage by
producing eco-friendly products. The banking operation and investment by financial
institutions should take care of environmental management of these polluting industries by
improving the overall environment, the quality and conversation of life, level of efficiency in
using materials and energy, quality of services and products. In this context, the role of
banking sector, which is on major financing sources to the Industries, assumes high
importance. This regulation is implemented by setting industry specific pollution standards,
scrutinizing the projects and granting or denying permissions by the concerned authorities
like Ministry of Environment and Forest. Thus, in the present context; it is equally important
for banks to guard themselves against the conversion of the now performing assets into non-
performing one in the future. Realization of these facts by banks will certainly make women
entrepreneurs fast adopt the concept of Green Banking. In regard to Green Banking policies,
women empowerment is important for the emerging women entrepreneurs to get
development and success.
Karthikeyan, K., & Dineshkumar, M. (2017). Women Entrepreneurship through Green Banking in
India. Organized by the Department of Management Studies, VHNSN College, Virudhunagar, in the
edited book on Business Management Practices in Emerging Indian Economy, ISBN: 978-93-81723-
64-7, F67-F76.
“Business Management Practices in Emerging Indian Economy” in the organized by the Department
of Management Studies, VHNSN College, Virudhunagar, on 16th February 2017.

WOMEN ENTREPRENEURSHIP THROUGH GREEN BANKING

As the women entrepreneurs in our country face many problems by their nature,
education level, confidence and other concerns of life, the steady adoption of Green
initiatives can help them to march forward in achieving success in the world of economy. To
get forward, IT education, E-payment methods and Green policy education will be a great
advantage for women entrepreneurs to empower themselves. In such cases like the transfer of
finance, they can use E-banking methods to the extent to get maximum benefits. While
purchasing raw materials also there is an easy way to stop the traditional way of purchasing
and it can be done by ordering through IT facilities. In the face of rigid competition, women
entrepreneurs can come away from all negative stages of competition by adopting
information technology for easy access. In regard of family ties, they can use computers and
other devices in their homes to overcome the gap in their service to the home and company.
Social barriers can also be out dated by the adoption of technological measures to shine in
business. The exploitation of middle men is a great threat to the emerging women
entrepreneur society. By using the Green policies with the help of Information Technology,
they can get the real profit to themselves. By following these, women entrepreneurs can be
successful and eco-friendly in business.
To foster women entrepreneurship, they should be introduced to the payment and
settlement systems in India. Without these techniques their efforts would be futile so the
proper understanding of such systems is very important to them to get success in their
pursuits. For e.g. methods like Real Time Gross Settlement (RTGS), Clearing Corporation of
India ltd (CCIL) Operated systems, Paper Clearing, Retail Electronic Clearing, Cards,
Prepaid Payment Instruments and Mobile Banking methods ought to be familiar to them in
transaction of money. In doing it so, the electronic use of such facilities should be focused to
enhance them in their business for transaction purposes. Their businesses activities can also
be electronically utilized to save time, paper and labour.

CASHLESS PAYMENTS IN INDIA

TABLE- I Payment and Settlement Systems in India

Karthikeyan, K., & Dineshkumar, M. (2017). Women Entrepreneurship through Green Banking in
India. Organized by the Department of Management Studies, VHNSN College, Virudhunagar, in the
edited book on Business Management Practices in Emerging Indian Economy, ISBN: 978-93-81723-
64-7, F67-F76.
“Business Management Practices in Emerging Indian Economy” in the organized by the Department
of Management Studies, VHNSN College, Virudhunagar, on 16th February 2017.

Source : RBI Bulletin, December 2013-14 to 2015-16

It is clear from table- I that the volume and the value estimations had been developed
to higher range in every consecutive year. The utilization of the payment systems had been
changed according to the development in technology. It marks the development in the
transactions of the business sectors by the entrepreneurs. So, it will be profitable for women
entrepreneurs while they use such payment methods especially in the use of e-payment
methods.
The volume of transactions made through RTGS has increased from 8.64 million in
2013-14 to 98.34 million in 2015-16. The volume of transactions made through CCIL
operated systems has increased from 0.20 million in 2013-14 to 3.12 million in 2015-16.
The volume of transactions made through Paper Clearing has increased from 110.50 million
in 2013-14 to 1096.37 million in 2015-16. The volume of transactions made through Retail
electronic clearing has increased from 122.36 million in 2013-14 to 3141.53 million in 2015-
16. The volume of transactions made through Cards (Debit & Credit ) has increased from
674.88 million in 2013-14 to 10038.67 million in 2015-16. The volume of transactions made
through Prepaid payment instruments (PPIs) has increased from 16.57 million in 2013-14 to
748.02 million in 2015-16 and the volume of transactions made through Mobile Banking has
increased from 10.74 million in 2013-14 to 389.49 million in 2015-16.

Karthikeyan, K., & Dineshkumar, M. (2017). Women Entrepreneurship through Green Banking in
India. Organized by the Department of Management Studies, VHNSN College, Virudhunagar, in the
edited book on Business Management Practices in Emerging Indian Economy, ISBN: 978-93-81723-
64-7, F67-F76.
“Business Management Practices in Emerging Indian Economy” in the organized by the Department
of Management Studies, VHNSN College, Virudhunagar, on 16th February 2017.

The value of transactions made through RTGS has increased from Rs, 99,245.04
billion in 2013-14 to Rs, 1,035,551.64 billion in 2015-16. The value of transactions made
through CCIL operated systems has increased from Rs, 53,576.36 billion in 2013-14 to Rs,
807,370.42 billion in 2015-16. The value of transactions made through Paper Clearing has
increased from Rs, 8,750.75 billion in 2013-14 to Rs, 81,860.79 billion in 2015-16. The
value of transactions made through Retail electronic clearing has increased from Rs,
5,728.81 billion in 2013-14 to Rs, 91,408.14 billion in 2015-16. The value of transactions
made through Cards (Debit & Credit ) has increased from Rs, 2,029.02 billion in 2013-14 to
Rs, 29,397.65 billion in 2015-16. The value of transactions made through Prepaid payment
instruments (PPIs) has increased from Rs, 9.80 billion in 2013-14 to Rs, 487.58 billion in
2015-16 and the value of transactions made through Mobile Banking has increased from Rs,
33.91 billion in 2013-14 to Rs, 4,040.91 billion in 2015-16.
Therefore, from the above analysis; it is concluded that both the volume and the value
of electronic banking transactions have increased significantly during the period 2013-14 to
2015-2016.

CHART- I CHART- II
Payment & Settlement in India (Volume) Payment & Settlement in India (Value)

From the chart – I it is clear that there is a gradual development of utilizing cards and
transactional benefit in our country. It clearly shows the use of cards in the year 2013-14 had
been used above 0.00 million and its hike in the year 2014-2015 above 8000.00 million and
its ultimate hike in 2015-16 as 10000.00 million. Retail electronic clearing had been utilized
in a gradual manner next to cards below 2000.00 and above 2000.00 respectively. Paper

Karthikeyan, K., & Dineshkumar, M. (2017). Women Entrepreneurship through Green Banking in
India. Organized by the Department of Management Studies, VHNSN College, Virudhunagar, in the
edited book on Business Management Practices in Emerging Indian Economy, ISBN: 978-93-81723-
64-7, F67-F76.
“Business Management Practices in Emerging Indian Economy” in the organized by the Department
of Management Studies, VHNSN College, Virudhunagar, on 16th February 2017.

clearing methods, Prepaid payment instruments, Mobile banking had been in use in a least
manner. RTGS AND CCIL systems had not been properly used.
It is observed from the chart – II that the value of the money transacted through the
payment processes. In it, the utilization of RTGS and CCIL systems had been slowly in 2013-
2014. But in the years such 2014-15 and 2015-16, its development had reached its ultimate
hike and it denotes that the payment systems had an impact on money transactions. It shows
clearly that the use of RTGS had encouraged transactions below 100,000.00 billion and
above 100,000.00 billion and the CCIL systems had fostered transactions to below
800,000.00 and 800,000.00 in 2014-15 and 2015-16 respectively. Also Paper clearing, Retail
electronic clearing and Cards were also used in a very limited manner in transaction
purposes. The analysis shows that the use of e-payment methods and its relativity in the
development of business transactions. These methods should reach the beginners properly
and it could be a sufficient help to them in their business and development. Hence, these
methods are important for the women entrepreneurs to uplift them and the society through
them.
CONCLUSION
Hence, the future economic development of India relies on the empowerment of
women entrepreneurs. As India is marching in every field among the developed nations in the
world arena, in the field of business; it is a very important need to strengthen the women
entrepreneurs’ in IT based knowledge, E-payment methods and Green initiatives to get
possible gains. Indeed, in the situation to save the environment, women have become a vital
necessity to follow eco-friendly practices. As our country women in small range to high
range business sectors are emerging new, it is important to teach them to learn Green policies
and banking to make a gradual-radical change to keep the environment clean with eco-
friendly practices and to shine in commerce and administration.
REFERENCES
1. Pravakar, Sahoo. and Bibhu, Prasad. Nayak. (2008). Green Banking in India. Institute of
Economic Growth. University of Delhi Enclave North Campus, Delhi – 110 007.
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Medium Enterprises, Department of Electronics and Information Technology. Ministry of
C & IT, Government of India.
3. Medha, Dubhashi. Vinze. (1987). Women Entrepreneurs in India: A Socio-Economic
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Karthikeyan, K., & Dineshkumar, M. (2017). Women Entrepreneurship through Green Banking in
India. Organized by the Department of Management Studies, VHNSN College, Virudhunagar, in the
edited book on Business Management Practices in Emerging Indian Economy, ISBN: 978-93-81723-
64-7, F67-F76.
 “Business Management Practices in Emerging Indian Economy” in the organized by the Department
of Management Studies, VHNSN College, Virudhunagar, on 16th February 2017.

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Karthikeyan, K., & Dineshkumar, M. (2017). Women Entrepreneurship through Green Banking in
India. Organized by the Department of Management Studies, VHNSN College, Virudhunagar, in the
edited book on Business Management Practices in Emerging Indian Economy, ISBN: 978-93-81723-
64-7, F67-F76.

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