The finance ministry, after consultations with the RBI, multilateral institutions, and other stakeholders, is ready with the framework for its maiden Rs _______ green bond issuance.

Solution

The finance ministry, after extensive consultations with the Reserve Bank of India (RBI), multilateral institutions, and other stakeholders, is ready with the framework for its maiden Rs 16,000-crore green bond issuance.The framework is expected to cover funding of green and sustainable infrastructure across road, railway, urban transportation, agriculture, and social sectors, apart from renewable energy projects. As part of its second half of 2022-23 (FY23) borrowing calendar (October-March), the finance ministry had announced it would issue sovereign green bonds (SGBs) worth Rs 16,000 crore. With this, India will join the club of 25 nations so far whose governments have issued bonds to exclusively fund climate sustainability and green infrastructure projects and initiatives. RBI Headquarters: Mumbai Governor: Shaktikanta Das 4 Deputy Governors: T. Rabi Sankar, MK Jain, MD Patra, M Rajeshwar Rao Green bonds are bonds issued by corporates, sovereign entities, inter-governmental organizations, and multinational corporations whose proceeds are deployed towards environmentally sustainable projects. They have positive environmental and climate benefits such as energy efficiency, renewable energy, clean transportation, and sustainable water projects.