Deputy Governor Michael Patra of the Reserve Bank of India (RBI) highlighted at a recent meeting in Rome the RBI’s exploration of adequate insurance coverage for green deposits, along with climate-risk based differential premiums and funding needs for climate sustainability. The initiative aims to attract more funds towards environmentally friendly projects. Patra emphasized the need for enhanced coordination and information sharing among deposit insurers globally to tackle the complex challenges posed by climate change. The RBI had earlier introduced a framework for green deposits to promote a sustainable finance ecosystem in India.