For many rupees, RBI will issue the Sovereign Green

Solution

The Reserve Bank of India announced that it will sell sovereign green bonds worth Rs 16,000 crores, in two tranches of 8,000 crores each. The auction proceeds, which will be conducted on January 25 and February 9, 2023, will be used to fund public-sector projects that reduce the economy's carbon intensity. Green bonds are issued by any sovereign authority, inter-governmental organizations or alliances, or corporations with the intention of using the bond profits to fund ecologically friendly initiatives.