The countrys largest lender State Bank of India (SBI) has launched the SBI Green Rupee Term Deposit (SGRTD) with the aim of mobilizing funds to support environment-friendly initiatives and projects.
Who can avail of the service?
The deposit scheme is open to Resident Individuals, Non-Individuals, and NRI Customers.
What is the tenure?
SGRTD offers investors the flexibility to choose from three distinct tenors: 1111 days, 1777 days, and 2222 days.
Currently, the scheme is available through the branch network, and it will soon be made available through other digital channels such as YONO and Internet Banking Services (INB).
On the launch, Dinesh Khara, Chairman, SBI said, We are happy to launch the SBI Green Rupee Term Deposit Scheme, a testament towards our commitment to sustainable finance. 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.
