Q. With reference to “Green Deposits” consider the following statements:
1.A green deposit is a fixed-term deposit for investors looking to invest their surplus cash reserves in environmentally friendly projects.
2.It is a non-interest-bearing deposit.
3.Proceeds from green deposits cannot be used for non-environment friendly projects.
Which of the statements given above are correct?
Answer: C
Notes:
Explanation –
Statement 1 and 3 are correct. A green deposit is a fixed-term deposit for investors looking to invest their surplus cash reserves in environmentally friendly projects. Proceeds from green deposits cannot be used for non-environment friendly projects.
Statement 2 is incorrect. Green deposits provide the interest to the investors in return.
Source: ForumIAS
