To combat the Global climate change we need a holistic multi-pronged strategy with the contribution of stakeholders in different sectors. Sharing this common burden and supporting the cause, DBS Bank India has announced the launch of its Green Deposit Programme for corporate clients. This will help companies in contributing to environmentally-friendly projects or avenues.
What is Green Deposit Programme?
DBS-Bank India has announced the launch of its Green Deposit Program for Corporate Clients, which provides an easy way for companies to support eco-friendly projects or avenues. DBS Bank is among the handful of banks globally that merged their actions with the Sustainable Development Goals by providing sustainable and eco-friendly green sector lending and business credit solutions.
What this Programme will do?
Green deposits will fund green industries and initiatives such as; Green building sustainable water initiatives that include wastewater management, renewable energy, and clean transportation. The Green Deposit offer combines all the benefits of regular fixed deposits with DBS’s commitment to supporting green and sustainable loans disbursed by the bank.
According to DBS bank, Green Deposits can provide a threefold benefit:
- Demonstrate customer’s commitment towards environmental sustainability.
- Customers can invest surplus cash in deposits supporting sustainable projects with positive environmental impact.
- Customers can receive stable returns on investment without compromising the security of the deposit placement.
Other Green initiatives of the Bank:
DBS bank is a leader in setting international green finance benchmarks. The Bank has established its capacity and expertise in extending Green Loans. In partnership with CapitaLand, DBS bank in 2020 had placed its first green deposit for one of their group entities. The total net worth of outstanding green loans disbursed by DBS Bank in India is worth INR 1,546 Crores.
DBS bank in India:
Originally a Singaporean multinational Bank, DBS bank has been working in India for 27 years. As per the DBS bank’s official website, DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly-owned, locally incorporated subsidiary of a leading global bank. In 2016, the bank launched India’s maiden mobile-only bank named as Digibank. Besides, in late 2020, Lakshmi Vilas Bank was merged with DBS Bank India Limited. The bank now has a network of nearly 600 branches across 19 states in India.