Question : Which bank has recently(December 2021) announced the launch of ‘Green Fixed Deposits’ where the deposit proceeds will be used to finance projects and firms supporting the UN SDGs ?
a. IndusInd Bank
b. Axis Bank
c. HDFC Bank
d. SBI
Ans. a.
Related facts —
- IndusInd Bank has recently(December 2021) announced the launch of ‘Green Fixed Deposits’ where the deposit proceeds will be used to finance projects and firms supporting the UN SDGs.
- IndusInd Bank is amongst few banks globally, to bring forth this proposition, thereby integrating SDG into a regular fixed deposit product.
- These deposits, shall be offered to both retail and corporate customers.
- 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.
- It in notable that IndusInd Bank is the only bank in India to secure ‘band A’ in the Carbon Disclosure Project and it has maintained its leadership capability over the last 5 years.
By – Pankaj Pandey