There is a growing demand for customized sustainable solutions among clients in India, according to Mridula Iyer, head of Treasury and Trade Solutions at Citi India and South Asia.
As clients strive to achieve their sustainability goals, they are increasingly turning to tailored offerings that align with their specific needs in the region, Iyer added, according to Citi's website.
“Sustainable solutions in India are gaining significant traction from clients who are looking for customized solutions to help meet their sustainability goals," Iyer said, according to Citi's website.
Citi has recently launched a sustainable time-deposit solution in India, aimed at assisting institutional clients in investing surplus cash while promoting their sustainability goals. This product, catering to the increasing interest in sustainable investment, expands Citi's program that now serves clients across Europe, the Middle East, the U.S. and marks India as the third market in Asia Pacific to offer this solution.
The time-deposit product in India involves the allocation of deposited funds to back projects under the Citi Social Finance Framework. This initiative enables Citi to finance or refinance assets in a portfolio of eligible social finance projects. The projects encompass diverse areas, such as affordable basic infrastructure, affordable housing, economic inclusion, education, food security and health care, with the goal of expanding access for low-income and underserved communities.
“The sustainable deposit solutions that were launched in Hong Kong and Singapore last year have proved to be a popular investment option for our finance and treasury clients to date,” Sandip Patil, Asia Pacific Head of Liquidity Management Services and Digital Assets, Treasury and Trade Solutions, Citi, told the Citi website.
Citi's goal is to invest in opportunities for 15 million low-income households, including 10 million women globally by 2025.