{"id":18828,"date":"2024-12-23T01:07:33","date_gmt":"2024-12-22T19:37:33","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=18828"},"modified":"2025-04-05T13:31:08","modified_gmt":"2025-04-05T08:01:08","slug":"green-deposit","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/green-deposit\/","title":{"rendered":"What is a Green Deposit?"},"content":{"rendered":"<h2><strong>What Are Green Deposits?<\/strong><\/h2>\n<ul>\n<li>Green deposits are <strong>interest-bearing fixed-term deposits<\/strong> where proceeds are allocated specifically towards <strong>green finance<\/strong> projects. These deposits are denominated only in <strong>Indian Rupees<\/strong> as per the <a href=\"https:\/\/vajiramandravi.com\/upsc-daily-current-affairs\/mains-articles\/reserve-bank-of-india\/\" target=\"_blank\">Reserve Bank of India (RBI)<\/a> framework.<\/li>\n<li><strong>Purpose<\/strong>: Funds raised through green deposits are directed towards <strong>sustainable and environmentally friendly projects<\/strong> such as:\n<ul>\n<li>Renewable energy projects (<strong>solar, wind, biomass, and hydropower<\/strong>).<\/li>\n<li><strong>Energy efficiency and clean transportation<\/strong>.<\/li>\n<li><strong>Climate change adaptation<\/strong> and <strong>sustainable water\/waste management<\/strong>.<\/li>\n<li>Development of <strong>green buildings<\/strong> and <strong>coastal\/marine environment projects<\/strong>.<\/li>\n<li>Support for <strong>certified organic farming<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Key features<\/strong>: Like regular fixed deposits, green deposits offer interest and <strong>fixed tenure<\/strong>.\n<ul>\n<li>Fund allocation is subject to an annual third-party audit to ensure compliance with green finance norms.<\/li>\n<li>Deposits are insured under the <strong>Deposit Insurance and Credit Guarantee Corporation (DICGC)<\/strong> framework.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Priority Sector Lending (PSL)<\/strong>: If the green activities\/projects financed align with <strong>PSL guidelines<\/strong>, they can be classified under the <strong>priority sector<\/strong>.<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1: What is the role of DICGC?<\/h3>\n<p>The DICGC is a wholly-owned subsidiary of the Reserve Bank of India (RBI) that provides insurance coverage to depositors in case of bank failure. It ensures that depositors receive up to \u20b95 lakh per depositor per bank across all types of deposits, including savings, current, recurring, and fixed deposits.<\/p>\n<p><strong>News:<\/strong> <a href=\"https:\/\/www.thehindubusinessline.com\/specials\/current-account\/why-green-deposits-are-struggling-to-take-root-in-india\/article69015572.ece\" target=\"_blank\" rel=\"nofollow noopener\">Why green deposits are struggling to take root in India &#8211; The Hindu BusinessLine<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Green deposits are interest-bearing fixed-term deposits where proceeds are allocated specifically towards green finance projects. <\/p>\n","protected":false},"author":5,"featured_media":18829,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-18828","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/18828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=18828"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/18828\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/18829"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=18828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=18828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=18828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}