14th June 2023 – Citi today announced the launch of a new sustainable time deposit solution in India, designed to assist institutional clients when investing excess cash while supporting their sustainability goals. The new sustainable time deposit solution reflects growing interest in sustainable investment, products and services from clients. India is the third market in Asia Pacific after Singapore and Hong Kong to launch this product for clients, expanding Citi’s program that now serves clients across Europe, the Middle East and the US.

The funds deposited in this product, offered by Citi in India, will support projects identified under the Citi Social Finance Framework. The funds will be allocated by Citi to finance or refinance assets in a portfolio of eligible social finance projects, including those expanding access for low-income and underserved communities across affordable basic infrastructure, affordable housing, economic inclusion, education, food security and healthcare.

“Sustainable solutions in India are gaining significant traction from clients who are looking for customized solutions to help meet their sustainability goals. The expansion of our sustainable deposits product suite in India shall support our clients in their ESG-transition journey,” says Mridula Iyer, Head of Treasury and Trade Solutions, Citi India and South Asia.