The Role of Mobile Banking in Encouraging Sustainable Consumption in Urban India

This study investigates the role of mobile banking in promoting sustainable consumption among urban consumers in India. Despite the widespread adoption of mobile banking, its potential impact on encouraging eco-friendly financial behavior remains underexplored. The primary objective of this research is to analyze the relationship between mobile banking usage and sustainability awareness, identify key motivators for adopting green financial products, and assess the influence of demographic factors. A quantitative methodology was employed, utilizing a structured questionnaire distributed through online and in-person methods, yielding 107 valid responses. Statistical analyses, including Chi-Square tests, correlation, regression, ANOVA, and T-tests, were applied to interpret the data. Findings reveal a significant association between mobile banking usage and sustainability consciousness, although financial incentives emerged as the strongest motivator for adopting green financial products, rather than environmental awareness alone. Age and gender had minimal influence on sustainability perceptions. Furthermore, mobile banking usage was moderately correlated with perceived reductions in CO₂ emissions, highlighting its environmental benefits. The study concludes that while digital banking platforms effectively raise sustainability awareness, combining financial incentives with educational initiatives is crucial to drive actionable change. These insights offer valuable recommendations for financial institutions and policymakers to integrate sustainability-driven strategies within mobile banking ecosystems to foster long-term responsible consumption behavior in urban India.