The Reserve Bank has announced the indicative calendar for the issuance of Sovereign Green Bonds. Accordingly, two auctions will be conducted for an amount of eight thousand crore rupees each.
The first auction will be held on the 25th of this month while the second has been scheduled for the 9th of February.
The RBI has informed that five percent of the notified amount will be reserved for retail investors. Investors will have a choice to put in their money for either five years or ten years. The bonds will also be eligible for trading in secondary markets.
It may be recalled that the Union Government had announced Sovereign Green Bonds as part of its overall market borrowings in the Budget 2022-23.
The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy and mobilising resources for green infrastructure