Climate change has been recognised as one of the most critical challenges faced by the global society and economy in the 21st century. The financial sector can play a pivotal role in mobilizing resources and their alloca

Climate change has been recognised as one of the most critical challenges faced by the global society and economy in the 21st century. The financial sector can play a pivotal role in mobilizing resources and their allocation thereof in green activities/ projects. Green finance is also progressively gaining traction in India. In this regard, RBI has examined the aspects in detail and has released a broad framework in this regard. With this end in view, as all of us know, Deposits constitute a major source for mobilizing of funds by the Banks/Regulated Entities (REs). It is seen that some REs is already offering green deposits for financing green activities and projects. Taking this forward and with a view to fostering and developing green finance ecosystem in the country, Reserve Bank of India has put in place a Framework for acceptance of Green Deposits for the Regulated Entities. With this background, answer the following questions: Define the following terms: (a) Green Deposit; (b) Green Finance; and (c) Green Washing.