Comments
IndusInd Bank has announced the launch of ‘green fixed deposits’, whereby the deposit proceeds will be used to finance projects and firms supporting the United Nations Sustainable Development Goals (SDGs).
These deposits will be offered to both retail and corporate customers, the private sector bank said in a statement.
Also read: IndusInd Bank, NPCI tie-up to offer remittances to India using UPI IDs
The Bank will use the proceeds from these deposits to finance a wide array of sectors falling under the SDG category including, energy efficiency, renewable energy, green transport, sustainable food, agriculture, forestry, waste management and greenhouse gas reduction.
Roopa Satish, Head – CSR and Sustainable Banking, IndusInd Bank said, green deposits provide the Bank’s customers with an opportunity to contribute to building a cleaner and better society.
“In all ways, it is similar to a regular bank deposit, but in addition, depositors will be issued a ‘Green’ certificate as well as an ‘Assurance’ certificate confirming the end-use of deposit proceeds at the end of the financial year,” she added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.