A “Green Deposit Programme” has been launched by the HSBC India. The “green deposit programme” has been launched exclusively for corporate clients. Under this programme, the bank will use the deposits to finance green initiatives and environment friendly projects. With this, the deposit scheme launched by the HSBC India will provide its corporate clients stable and pre-agreed returns along with the same protection as a normal bank deposit does.
The deposit under the “Green Deposit Programme” will come in the form of a term deposit with higher interests as compared to savings deposits. The scheme will finance eligible businesses and projects that encourage the transition to a low-carbon, climate resilient, and sustainable economy. Under this, the clients will also receive quarterly reports comprising portfolio-level information about the use of the deposited funds.