SBI unveils green rupee term deposit scheme

January 12, 2024 08:48 pm | Updated 08:48 pm IST - MUMBAI

State Bank of India (SBI) has introduced SBI Green Rupee Term Deposit (SGRTD) scheme to mobilise funds to support environment friendly initiatives and projects. This deposit scheme is open to resident individuals, non-individuals, and NRIs, the lender said.

SGRTD offers investors the flexibility to choose from three distinct tenors: 1,111 days, 1,777 days, and 2,222 days. Currently, the scheme is available through the branch network, and will soon be made available through other digital channels such as YONO and Internet Banking Services (INB), SBI said in a statement.

Dinesh Khara, Chairman, SBI said, “By offering this innovative product, we stride towards fulfilling the ambitious goal of Government of India of making our nation net carbon zero by 2070, fostering a greener and environmentally responsible financial future for all.”

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