Green Deposit Schemes in India
Green Deposit Schemes in India Introduction 1 Evolution and Timeline of Green Deposits in India 2 2021 – Pioneering Steps by Private Banks 2 ● Yes Bank launched India’s first Green Fixed Deposit in 2021. 2 June 2023 – RBI’s Regulatory Framework 3 July 2023 – SBI’s Entry with SGRTD 3 2023–2025 – Wider Adoption Across the Sector 3 Today: A Growing Ecosystem 4 Comparing Key Features 4 Green Deposits Right for You? 5 Summary 6 Introduction In recent years, environmental sustainability has become a central focus of financial institutions worldwide, and India is no exception. Among the most innovative instruments driving this green transformation are Green Deposit Schemes —a form of fixed deposit wherein the proceeds are earmarked exclusively for environmentally sustainable projects. These include investments in renewable energy, pollution control, sustainable water use, clean transportation, green buildings, and more. The first notable step in this direction in I...