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The Reserve Bank of India (RBI) recently issued guidelines for receiving "green deposits", kicked in from June 1 2023, by banks and non-banking financial companies (NBFCs). In this context what is the meaning of "green deposits"? |
These are financial product that enables individuals and organizations to deposit their funds with banks and NBFCs, specifically to finance environmental-friendly activities and projects. The money earned by individuals and organizations from environmental friendly business practices and deposited with banks and NBFCs for earning a higher rate of interest. These are the deposits made by the companies/businesses with the government as a penalty for degrading the environment. All of the above |
These are financial product that enables individuals and organizations to deposit their funds with banks and NBFCs, specifically to finance environmental-friendly activities and projects. |
In a move to promote sustainability and address climate change, the Reserve Bank of India (RBI) recently issued guidelines for receiving "green deposits", kicked in from June 1 2023, by banks and non-banking financial companies (NBFCs). These green deposits aim to finance renewable energy, green transport, and green building projects. Green deposits are a financial product that enables individuals and organizations to deposit their funds with banks and NBFCs, specifically to finance environmental-friendly activities and projects. These deposits serve as a means to mobilize resources and direct them towards sustainable initiatives. |
