Page 29 - Banking Finance October 2024

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environmental degradation and promoting social equity, Conclusion
enhancing corporate reputation and aligning with global Sustainable marketing is crucial for modern businesses,
sustainability goals, such as the United Nations integrating environmental and social responsibility into
Sustainable Development Goals (SDGs). marketing efforts. This approach not only enhances brand
reputation and economic success but also contributes to
Challenges and Future Directions a sustainable future. Embracing sustainable marketing
Challenges benefits businesses and ensures a positive impact on
Despite its benefits, sustainable marketing faces society and the environment.
challenges like greenwashing, where companies falsely
References
claim to be environmentally friendly. Overcoming these
1. Patagonia's Commitment to Sustainability: Patagonia.
challenges requires genuine commitment, robust
verification processes, and continuous improvement. Available at: Patagonia's Sustainability Initiatives
2. The Body Shop's Ethical Policies: The Body Shop.
Future Directions Available at: The Body Shop's Ethical Policies
Innovation and collaboration are key to the future of 3. TOMS Shoes' One for One Campaign: TOMS.
sustainable marketing. Businesses must innovate in Available at: TOMS Giving
product design, supply chain management, and consumer 4. Unilever's Sustainable Living Plan: Unilever.
engagement. Collaboration with stakeholders, including Available at: Unilever's Sustainable Living
consumers, governments, and non-profits, is essential to 5. General Electric's Ecomagination Initiative: General
drive systemic change. Electric. Available at: Ecomagination

Bank must adapt to market changes

Chief Economic Advisor to the Centre, V Anantha Nageswaran has said banks should adapt to changing customer
preferences and market dynamics in order to remain competitive. He highlighted the crucial role of agriculture in
driving economic growth at an event organised by public sector Indian Bank.
In his remarks on the topic 'Indian Economy and Banking: Growth and Trends", Nageswaran stressed on the impor-
tance of technological advancements in driving growth and innovation in the industry. The CEA, in a press release
issued by the Bank, emphasised the need for banks to adapt to changing customer preferences and market dynam-
ics to remain competitive.
He hailed the Indian Bank for its efforts to invest in knowledge sharing and excellence and lauded it's initiative under
the MSME Prerana programme which is aimed at training the entrepreneurs. In his address, Indian Bank Managing
Director and CEO S L Jain said, "We are delighted to have Dr Nageswaran sharing his insights on the Indian economy
and its implications on the banking sector." The interaction would undoubtedly benefit all the participants and help
them better understand the challenges and opportunities facing the industry, he added.

Axis Bank expands wealth managemnt services

Axis Bank said its private banking business Burgundy Private will expand its wealth management services to 15 new
cities, increasing its presence to 42 locations across India. With this strategic move, Burgundy Private will now offer
its bespoke wealth management services tailored to the unique needs of discerning clients in India's rapidly evolving
Tier 2 markets, Axis Bank said in a statement.
The new locations, to start with, include Bhubaneswar, Patna, Raipur, Agra, Ghaziabad, Jodhpur, Udaipur, Jalandhar,
Meerut, Belgaum, Kozhikode, Thiruvananthapuram, Aurangabad, Nagpur, and Gandhidham, it said. By leveraging
its expertise, technology, and data analytics, Burgundy Private aims to deliver personalised solutions that meet the
evolving expectations of affluent clients in these emerging geographies, it said.

26 | 2024 | OCTOBER | BANKING FINANCE