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.

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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.