The public sector bank, Bank of Baroda on Monday announced the launch of bob Earth Green Term Deposit Scheme, in a press note.
The objective is to raise deposits deployed towards financing eligible environment-friendly projects and sectors, the bank said.
With interest rates of up to 7.15 per cent per annum, the bob Earth Green Term Deposits offer depositors the opportunity to participate in India’s transition to a green and sustainable economy.
The General Public/Resident Indians, NRIs and High Net worth Individual (HNI) investors are all eligible to invest in the bob Earth Green Term Deposit scheme, as per the press note.
“The Bank has taken great strides in embedding sustainability into its operations, including our approach to risk management, governance, social responsibility and environmental impact. The launch of the bob Earth Green Term Deposit Scheme offers depositors dual benefits of stable & secure financial returns and the opportunity to contribute to a greener planet,” Debadatta Chand, Managing Director & CEO, Bank of Baroda said.
As part of BoB’s ESG initiatives, the bob Earth Green Term Deposit Scheme has been launched with innovative tenures that act as a reminder of the planet’s Climate & Sustainability goals, such as Tenure 1.5 years – signifying the aim to limit global temperature rise to 1.5 degrees Celsius above pre-industrial levels and Tenure 1717 days – doubly emphasising the United Nations’ 17 Sustainable Development Goals.
The PSU has launched environment focussed schemes earlier as well.
