Sovereign green bonds trading at IFSC to start in 2nd half of FY25: RBI Guv
Reserve Bank Governor Shaktikanta Das on Saturday said trading of sovereign green bonds can commence at the International Financial Services Centre in Gujarat during the second half of the current fiscal.
"We are in discussion with the IFSC, it will be operationalised very soon. I think in the second half (of the current financial year), it will be possible," Das said.
In April, the Reserve Bank of India (RBI) had announced that it will issue a framework to enable the trading of sovereign green bonds in GIFT City.
The government has been raising funds through green bonds since 2022-23 and has raised a total of Rs 36,000 crore in the last two years.
So far in the current financial year, the government has raised only Rs 1,697 crore out of the stipulated Rs 12,000 crore scheduled to be raised in the first half ending in September through green bonds as it did not find favourable bids.
Asked about the tepid response from investors to such bond issuance, Das said, "as the debt manager