State Bank Of India Planning To Issue $3 Bn Green Bonds
State bank of India, the largest lender of the country plans to raise the overseas green-bond issue to $3 billion in the country. Nirmal Singh 3C Company says the bank would along with BlackRock, International Finance Corp and JP Morgan- backed entities funding projects that will help achieve the government’s move a step ahead towards sustainable growth. According to the sources at Nirmal Singh 3C Company , the State Bank of India has internally approved their plan of increasing the limit of fund lending and it is also said that they have seeked approval from a global adjudicating authority on green bonds. The biggest government owned bank has started with their procedure for appointing investment bankers who will help them in raising money for the dedicated fund over a period of one or two quarters. The fund would be raised in installments, the timing and issue of which would be decided by the investors demand. What are Green Bonds? Bonds are debt instrumen...