RBI to issue green bonds in two tranches of Rs 8,000 cr each

Mumbai: The RBI on Friday said maiden Sovereign Green Bonds (SGrBs) would be issued in two tranches for an aggregate amount of Rs 16,000 crore, and proceeds will be utilised for funding public sector projects seeking to reduce carbon emissions. The first auction would be done on January 25 while the second on February 9, the Reserve Bank of India (RBI) said in a statement. he proceeds will be deployed in public sector projects, which help in reducing the carbon intensity of the economy, it said. “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.