Question
Consider the statements about Green Rupee Term Deposit
scheme: 1. RBI recently introduced this scheme. 2. It is started to mobilize funds to support environment friendly initiatives and projects. 3. The deposit scheme is open to resident individuals, non-individuals, and non-resident Indian (NRI) customers. Which of the statements given above is/are not correct?Solution
State Bank of India (SBI) recently introduced the SBI Green Rupee Term Deposit (SGRTD) scheme to mobilize funds to support environment friendly initiatives and projects. It is an initiative of the State Bank of India (SBI) with the aim of raising money to finance environment-friendly projects. The deposit scheme is open to resident individuals, non-individuals, and non-resident Indian (NRI) customers. The current framework permits green deposits to be denominated in rupees only. It offers investors the flexibility to choose from three distinct tenors: 1,111 days, 1,777 days, and 2,222 days.
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