In pursuit of attaining the net zero emissions goal by 2070, the Reserve Bank of India (RBI) projects that India’s overall expenditure for climate change adaptation will likely amount to ₹85.6 lakh crore by 2030. In alignment with efforts to strengthen green financing initiatives, the RBI introduced a framework for the acceptance of green deposits in April last year. Green deposits have been introduced to mobilise funds for projects aligned with the United Nations’ 17 sustainable development goals. Leading the way in this endeavour, the State Bank of India (SBI), the country’s largest bank in terms of assets, has unveiled its green deposit scheme, known as the SBI Green Rupee…
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State Bank of India’s green deposits: Are the interest rates attractive enough?
