India News | RBI to Issue Green Bonds in Two Tranches of Rs 8,000 Cr Each
Get latest articles and stories on India at LatestLY. The RBI on Friday said that maiden Sovereign Green Bonds (SGrBs) would be issued in two tranches of Rs 8,000 crore each on January 25 and February 9.
Mumbai, Jan 6 (PTI) The RBI on Friday said that maiden Sovereign Green Bonds (SGrBs) would be issued in two tranches of Rs 8,000 crore each on January 25 and February 9.
The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy, Reserve Bank of India (RBI) said in a statement.
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As announced in the Union Budget 2022-23, Government of India, as part of its overall market borrowings, will be issuing Sovereign Green Bonds (SGrBs), for mobilising resources for green infrastructure.
"Accordingly, it was notified in the half-yearly issuance calendar for marketable dated securities for the second half of the fiscal year 2022-23 on September 29, 2022 that SGrBs for an aggregate amount of Rs 16,000 crore would be issued.
"The Government of India has since issued the Sovereign Green Bond Framework on November 9, 2022," it said.
These green bonds would be available in 5-year and 10-year tenure, it said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)