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In 2024, which of the following Indian banks launched the Green Rupee Term Deposit?
Central Bank of India
State Bank of India
HDFC Bank
ICICI Bank
State Bank of India
State Bank of India launched the SBI Green Rupee Term Deposit in 2024 to mobilize funds for eco-friendly initiatives.
In January 2024, the State Bank of India (SBI) introduced the 'SBI Green Rupee Term Deposit' (SGRTD) to build a financial pipeline dedicated to supporting green and sustainable projects across the country. The initiative aligns with the Reserve Bank of India's framework on accepting green deposits, ensuring that funds raised are strictly allocated to environmentally friendly sectors like renewable energy, energy efficiency, clean transportation, and climate resilience. This move supports India's broader national target of achieving Net-Zero carbon emissions by 2070. Available to domestic retail customers, NRIs, and non-individual entities, the product offers flexible tenure options of 1111 days, 1777 days, and 2222 days.
The State Bank of India is India's largest public sector bank, tracing its origin back to the Bank of Calcutta established in 1806. Under the State Bank of India Act, 1955, the Imperial Bank of India was nationalized and renamed the State Bank of India on July 1, 1955. Headquartered in Mumbai, SBI operates under the regulatory supervision of the Reserve Bank of India (RBI), which was established under the RBI Act, 1934 based on the Hilton Young Commission recommendations.
Launched in January 2024 by State Bank of India (SBI).
Offers specific tenure buckets of 1111 days, 1777 days, and 2222 days.
Open to Resident Individuals, Non-Individual entities, and Non-Resident Indians (NRIs).
Interest rates are priced 10 bps below the card rate for retail term deposits of matching tenures.
B is correct тАФ State Bank of India (SBI) launched the SBI Green Rupee Term Deposit (SGRTD) in January 2024 to channel funds into environmentally sustainable projects.
Associate 'Green Rupee' with the largest public sector bank: SBI (State Bank of India) introduced the Green Rupee Term Deposit in 2024 with specific multi-digit day tenures (1111, 1777, and 2222 days).
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