The RBI on January 6, 2023 said that maiden Sovereign Green Bonds (SGrBs) would be issued in two tranches of ₹8,000 crore each on January 25 and February 9.
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The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy, Reserve Bank of India (RBI) said in a statement.
As announced in the Union Budget 2022-23, Government of India, as part of its overall market borrowings, will be issuing Sovereign Green Bonds (SGrBs), for mobilising resources for green infrastructure.
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"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 ₹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.