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With respect to the Reserve Bank of India (RBI)’s Framework on Green Deposits, consider the following statements:
- Green Deposit is an interest-bearing deposit and the proceeds are allocated towards green finance.
- The Framework is applicable to Small Finance Banks and Regional Rural Banks.
- The proceeds raised through the Green Deposits cannot be allocated towards hydropower plants larger than 25 MW.
How many of the above statements is/are correct?
- a)Only one
- b)Only two
- c)All three
- d)None
Correct answer is option 'B'. Can you explain this answer?
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With respect to the Reserve Bank of India (RBI)’s Framework on G...
The Reserve Bank of India (RBI)'s Framework on Green Deposits: The Framework defines "Green Deposit" as an interest-bearing deposit, received by the 'Regulated Entity' (RE) for a fixed period and the proceeds of which are earmarked for being allocated towards green finance.
The provisions of these instructions shall be applicable to the following entities, collectively referred to as the Regulated Entities' (RES):
The provisions of these instructions shall be applicable to the following entities, collectively referred to as the Regulated Entities' (RES):
- Scheduled Commercial Banks, including Small Finance Banks (excluding Regional Rural Banks, Local Area Banks and Payments Banks); and
- All deposit taking Non-Banking Financial Companies (NBFCs), registered with the Reserve Bank of India, under The Reserve Bank of India Act, 1934, including the Housing Finance Companies (HFCs), registered under Section 29A of The National Housing Bank Act, 1987.
Proceeds raised through the Green Deposits cannot be allocated for the following:
- Projects involving new or existing extraction, production and distribution of fossil fuels, including improvements and upgrades; or where the core energy source is fossil fuel based.
- Nuclear power generation.
- Direct waste incineration.
- Alcohol, weapons, tobacco, gaming or palm oil industries.
- Renewable energy projects that generate energy from biomass using feedstock originating from the protected areas. Landfill projects.
- Hydropower plants larger than 25 MW
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With respect to the Reserve Bank of India (RBI)’s Framework on G...
Explanation:
Statement 1: Green Deposit is an interest-bearing deposit and the proceeds are allocated towards green finance.
- This statement is correct. Green Deposit is indeed an interest-bearing deposit where the funds raised are specifically earmarked for green finance projects.
Statement 2: The Framework is applicable to Small Finance Banks and Regional Rural Banks.
- This statement is also correct. The RBI's Framework on Green Deposits is applicable to Small Finance Banks and Regional Rural Banks in addition to commercial banks.
Statement 3: The proceeds raised through the Green Deposits cannot be allocated towards hydropower plants larger than 25 MW.
- This statement is incorrect. The proceeds raised through Green Deposits can be allocated towards various green projects, including hydropower plants, regardless of their size.
Therefore, the correct answer is Option B: Only two, as the first two statements are correct while the third statement is not accurate.
Statement 1: Green Deposit is an interest-bearing deposit and the proceeds are allocated towards green finance.
- This statement is correct. Green Deposit is indeed an interest-bearing deposit where the funds raised are specifically earmarked for green finance projects.
Statement 2: The Framework is applicable to Small Finance Banks and Regional Rural Banks.
- This statement is also correct. The RBI's Framework on Green Deposits is applicable to Small Finance Banks and Regional Rural Banks in addition to commercial banks.
Statement 3: The proceeds raised through the Green Deposits cannot be allocated towards hydropower plants larger than 25 MW.
- This statement is incorrect. The proceeds raised through Green Deposits can be allocated towards various green projects, including hydropower plants, regardless of their size.
Therefore, the correct answer is Option B: Only two, as the first two statements are correct while the third statement is not accurate.
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With respect to the Reserve Bank of India (RBI)’s Framework on Green Deposits, consider the following statements: Green Deposit is an interest-bearing deposit and the proceeds are allocated towards green finance. The Framework is applicable to Small Finance Banks and Regional Rural Banks. The proceeds raised through the Green Deposits cannot be allocated towards hydropower plants larger than 25 MW.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?
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With respect to the Reserve Bank of India (RBI)’s Framework on Green Deposits, consider the following statements: Green Deposit is an interest-bearing deposit and the proceeds are allocated towards green finance. The Framework is applicable to Small Finance Banks and Regional Rural Banks. The proceeds raised through the Green Deposits cannot be allocated towards hydropower plants larger than 25 MW.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With respect to the Reserve Bank of India (RBI)’s Framework on Green Deposits, consider the following statements: Green Deposit is an interest-bearing deposit and the proceeds are allocated towards green finance. The Framework is applicable to Small Finance Banks and Regional Rural Banks. The proceeds raised through the Green Deposits cannot be allocated towards hydropower plants larger than 25 MW.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With respect to the Reserve Bank of India (RBI)’s Framework on Green Deposits, consider the following statements: Green Deposit is an interest-bearing deposit and the proceeds are allocated towards green finance. The Framework is applicable to Small Finance Banks and Regional Rural Banks. The proceeds raised through the Green Deposits cannot be allocated towards hydropower plants larger than 25 MW.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?.
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