The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy, the RBI said.
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.
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.
"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.