IndusInd Bank announces launch of ‘green fixed deposits’

Why in news?

• IndusInd Bank has announced the launch of ‘green fixed deposits’, whereby the deposit proceeds will be used to finance projects and firms supporting the United Nations Sustainable Development Goals (SDGs).

About ‘green fixed deposits’

• Investing in green deposits allows customers to build a cleaner and better society
• These deposits will be offered to both retail and corporate customers.
• The Bank will use the proceeds from these deposits to finance a wide array of sectors falling under the SDG category including, energy efficiency, renewable energy, green transport, sustainable food, agriculture, forestry, waste management and greenhouse gas reduction.