- In the discussion paper on 'Climate Risk and Sustainable Finance,' RBI said it intends to adopt global best practices to mitigate the impacts of climate change.
- The strategy proposed by RBI includes providing guidance to all RBI-regulated entities(REs) to have appropriate governance, the proper strategy to address climate change risks, and a risk management structure to effectively manage them from a micro-prudential perspective.
- RBI would encourage REs to set a voluntary funding target to increase green funding with the approval of their board. The REs may set an incremental target for green finance over short, medium, and long terms.
- RBI said in order to green the banking process, REs should convert their branches to green branches by eliminating the use of paper and introducing e-receipts. REs should convert their data centers to green data centers by using renewable energy for sourcing power for the data centers.
- RBI invited comments on the discussion paper from regulated entities and stakeholders till September 30.
- Static Knowledge:
- RBI governor - Shaktikanta Das
- RBI headquarters - Mumbai
- RBI was formed - on 1 April 1934
Question:
Q.1 RBI invited comments on discussion report from regulated entities and other stakeholders till_______a. September 30
b. August 30
c. October 30
d. November 30
