Page 50 - Banking Finance August 2021

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6) Aluminum cans Recycling- Aluminum cans are mostly recycling in India works really well. Parts of India have
thrown away once the content is used, that can be the highest recycling rates in the world because there
taken for recycling and processed further to produce is a value chain all the way from collection to making
new ones. Recycling aluminum uses 95 % less energy clothes and textiles, and people make money at every
than production aluminum from raw materials. The step of the way in this process. By some reports, the
aluminum cans are sold at a high price and hence yield PET recycling rate at the national level is now a
good profit where as investment is comparatively very whopping 90%, compared to 48% in Europe which
less. recycles and 31% in the US.
7) Packaging Cartons Recycling- For this kind of recycling
the material used are easily available and the 10) Food Waste Recycling- This is one of the most nature
production cost is very low, this will yield a good return friendly ways of recycling, these are processed to
on investment. These days online marketing has become generate Bio energy, Fertilizers etc. It requires small
a trend and goods are delivered in a packaging cartoons investment and gives high return. Another example is
and finally available as a raw material for further composing biodegrades organic waste that is food
recycling. waste manure, leaves, grass trimmings, paper, wood,
feathers crop residue etc. and turns it into a valuable
8) Scrap Metal Recycling- Scrap metals largely contain organic fertilizer. Composing is a natural biological
iron, aluminum etc. and the same are being recycled in process carried out under controlled aerobic conditions.
another useful form. Though the initial investment in
this business is high but returns are really lucrative.
Banks have various schemes to finance such types of
9) Plastic Recycling- Plastic is very dangerous to the activities and also have yet to explore more ideas to create
environment as it doesn't get decomposed. So it is best business opportunities not only to improve their profitability
to recycle these plastic to form some new useful but also to provide a huge platform for employments, self
products. In this type of business investments are very dependence, reduction of poverty and also contribution in
low and generate high returns. It has been observed GDP growth of our country. The World Bank is also involved
that 90% of waste accumulated by Municipal with more than 100 projects (Active or under development)
Corporation is plastic waste. Apart from this plastic is with municipal solid waste management in developing
used for manufacturing various types of goods and items countries. Loans and grant commitments have been made
that are being used on a daily basis. This will not only for capital investments in a broad scope of waste
help increase the production of plastic but will also take management functions including recycling, collection,
care of the environment. One of the examples during transfer stations and landfill design/construction.
the 'Mangal Mission' the tiles used in 'Mangal Yan' were
the composition of waste plastic and aluminum so that Ultimately progress in the sector should lead to better
the weight and cost was reduced. As per Forbes outcomes for waste collectors, too. Certainly sector part of
magazine India is next to China as one of the largest our broader challenge will be to transform the waste
economy contributing to the world's ocean plastic due collectors into a more formalized system that improves their
to underdeveloped recycling and waste management quality of life, so they can work and live with greater dignity,
process in the region. The Govt. of India introduced the better health and better working conditions. Some recycling
plastic waste management rules 2018 to reduce and cooperatives already exist in India that can provide the
manage plastic waste. resources and safety equipments to help realize this goal.
For Example Polyethylene Terephthalate (PET) is a highly
recyclable plastic resin and a form of polyester. PET is We all must come together and make it a revolution to fulfill
also inexpensive, light weight, easy recyclable and the aim of our Swachh Bhatar Mission as well as to take a oath
shatter resistant, Recycled PET is known as RPET and is to discharge our individual responsibility by self updating of our
most widely recycled plastic in the world. PET is knowledge about recycling and spreading the same to others
frequently used to package a range of products including as an ideal citizen of India. It is very important for India to
beverage, peanut butter, bakery goods, frozen foods, display high standards of hygiene and cleanliness to change the
salad, cosmetics and miscellaneous house holds. PET overall global perception, people have about our country. T

50 | 2021 | AUGUST | BANKING FINANCE