RBI on April 11, 2023 has issued Framework for acceptance of Green Deposits. REs shall put in place a comprehensive Board-approved policy on green deposits laying down therein, all aspects in detail for the issuance and allocation of green deposits. A copy of the above policy on ‘Green Deposits’ shall be made available on the website of the RE.
A review report shall be placed by the RE before its Board of Directors within three months of the end of the financial year which shall, inter-alia, cover the following details:
- amount raised under green deposits during the previous financial year
- list of green activities/projects to which proceeds have been allocated, along with a brief description of the projects
- the amounts allocated to the eligible green activities/projects
- a copy of the Third-Party Verification/Assurance Report and the Impact Assessment Report.