RBI issues first tranche of sovereign green bonds

RBI has issued the first Rs 80 billion tranche of sovereign green bonds. The tranche included Rs 40 billion each of 5-year and 10-year notes. The 10-year bond was sold at a cut-off price of 7.29 per cent, while the 5-year bo­nd was sold at a cut-off price of 7.1 per cent. The proceeds will be de­ployed in public sector projects that will help in reducing the carbon intensity of the economy. The second Rs 80 billion tranche of green bon­ds will be issued on February 9, 2023, taking the total green bond sale to Rs 160 billion.