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.