Banks want RBI to change climate finance guidelines
Business
Public sector banks are asking the Reserve Bank of India (RBI) to rethink its climate finance guidelines, saying the current rules on green deposits and project checks haven't really taken off—mostly because there aren't enough perks for banks or customers to get involved.
IBA is pushing for changes
India needs a massive $2.5 trillion to hit its climate goals, but progress has been slow.
The Indian Banks's Association is pushing for changes like lowering the cash reserve ratio on green deposits and clearer rules so more money can flow into eco-friendly tech and projects.
If these updates go through, it could make it a lot easier—and more appealing—for banks and young investors to support a greener future.