Scheme for Trading and Settlement of Sovereign Green Bonds in IFSC
On 29th August, 2024, the Reserve Bank of India (RBI) introduced a new scheme allowing foreign investors in the International Financial Services Centre (IFSC) to invest in sovereign green bonds.
Aim
- This move is aimed at increasing non-resident participation in these environmentally focused instruments.
Salient Features
Scope
- The Scheme shall apply to investments in Sovereign Green Bonds issued by the Government of India by eligible investors in the IFSC in India.
Eligible Investors
- Persons resident outside India as defined in Section 2(w) of the FEMA, 1999.
- An IBU (IFSC Banking Units: banking units set up in the IFSC) of ....
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