SBI launches green rupee term-deposit scheme to mobile funds for climate-friendly projects

Country's largest lender State Bank of India (SBI) on Friday launched a green rupee term-deposit scheme with an aim to finance environment-friendly projects.

The bank said the scheme is open to all individuals including non-resident Indians and offers investors the flexibility to choose from three distinct tenors: 1,111 days, 1,777 days, and 2,222 days.

Currently, the scheme is available through the branch network and it will soon be made available through digital channels such as Yono and online banking, chairman Dinesh Khara said in a statement.