Bank of Baroda lunches bob Earth Green Deposits
In line with its commitment to ESG principles, Bank of Baroda introduces “bob Earth Green Term Deposits,” directing proceeds exclusively towards eco-friendly ventures and sectors.
Mumbai: Bank of Baroda (BoB), a prominent public sector bank in India, has recently introduced the bob Earth Green Term Deposit Scheme. This initiative aims to gather deposits to support environmentally friendly projects and sectors. The scheme offers competitive interest rates across various time periods, encouraging depositors to be part of India’s shift towards a greener, sustainable economy. Investors including the general public, resident Indians, NRIs, and high net worth individuals are eligible to participate.
Debadatta Chand, Managing Director & CEO of Bank of Baroda, highlighted the bank’s commitment to sustainability across its operations, emphasizing the importance of environmental responsibility. The bob Earth Green Term Deposit Scheme not only ensures stable financial returns but also allows depositors to contribute to environmental conservation efforts. BoB, as a leading bank, is dedicated to advancing its ESG (Environmental, Social, and Governance) goals and expanding its green financing initiatives.
Innovative tenures under the scheme, such as 1.5 years and 1717 days, symbolize climate and sustainability objectives, including limiting global temperature rise and achieving the UN’s Sustainable Development Goals.
Funds raised through bob Earth Green Term Deposits will be channeled into eligible green projects and sectors, including renewable energy, clean transportation, water and waste management, energy efficiency, climate adaptation, pollution prevention, green buildings, and biodiversity conservation.
Both existing and new customers can open Green Deposits at any of Bank of Baroda’s branches nationwide. This initiative aligns with the bank’s commitment to environmental stewardship, as demonstrated by the “bob Earth” initiatives launched on its 116th Foundation Day, reaffirming its dedication to safeguarding nature for future generations.
