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ARTICLE · 11 JULY 2023

RBI Update | Framework For Acceptance Of Green Deposits

Mansukhlal Hiralal & Company
Mansukhlal Hiralal & Company
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Recently, the Reserve Bank of India (RBI) issued a Notification to put in place a framework for acceptance of Green Deposits (Framework) with effect from 1 June 2023...

IndiaEnvironment
Bhushan Shah
Bhushan Shah
Shreya Dalal
Shreya Dalal
Keerthi Kamath
Keerthi Kamath
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Recently, the Reserve Bank of India (RBI) issued a Notification to put in place a framework for acceptance of Green Deposits (Framework) with e?ect from 1 June 2023, pursuant to a survey carried out by the RBI in January 2022. Green Deposits are interest-bearing deposits for a fixed period and the proceeds of which are allocated towards green finance i.e., investment in certain activities/projects that contribute to climate risk mitigation and other environmental objectives. The Framework has been introduced with a view to encourage and regulate the green finance ecosystem in the country and to achieve the sustainability goals.

APPLICABILITY

The Framework is applicable to the following Regulated Entities (REs):

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