HSBC India launches “Green Deposit Programme”

HSBC India becomes 1st Foreign Bank in India to launch a ‘Green Deposit Programme’ exclusively for corporate clients to finance green initiatives and eco-friendly projects like renewable energy, clean transportation, and pollution prevention among others, that promote transition to a low-carbon, climate resilient and sustainable economy.
It is available in Rupees(Rs) as ‘Term Deposit’, which generally attracts higher interests compared to savings deposits.
The amount for Green Deposits will be subject to limits basis availability of eligible projects & businesses
Recently HSBC India has financed the green loan aligned with the Green Loan Principles in the renewables sector as the only lender and advisor, to set up a 250 MW wind power project in Kutch, Gujarat in India.