​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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