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RBI Mulls Better Insurance Coverage For Green Deposits

The Morning Standard

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June 19, 2024

WITH climate change emerging as an overarching risk to the global economy as well as financial systems, the Reserve Bank of India is exploring adequate insurance coverage for green deposits, deputy governor Michael Patra said.

- BEN KOCHUVEEDAN

RBI Mulls Better Insurance Coverage For Green Deposits

"We are exploring appropriate coverage for green deposits, climate-risk based differential premiums and ex-ante funding needs for climate sustainability," Patra told the 79th executive committee meeting of the International Association of Deposit Insurers in Rome over the weekend. While Patra did not elaborate on RBI's plans, the move is expected to bring more funds to environment-friendly projects.

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