Citi launches time deposit solution in India 14 June 2023India Reporter: Klea Neza
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Citi has launched a time deposit solution in India to assist institutional clients investing excess cash. It will also support their sustainability goals.
The funds deposited in this product, offered in Citi by India, will support projects identified under the Citi Social Finance Framework. The funds will be assigned by Citi finance assets in a portfolio of eligible social finance projects.
This will also include projects expanding access for low-income and under-resourced communities across affordable basic infrastructure, housing, economic inclusion, education, food security and health care.
The time deposit solution mirrors increasing interest in sustainable investment, products and services from clients.
India is the third market in APAC to launch this product for clients, growing Citi’s programme which currently serves clients across Europe, the Middle East and the US.
Mridula Iyer, head of treasury and trade solutions, Citi India and South Asia, says: “Sustainable solutions in India are gaining significant traction from clients who are looking for customised 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.”
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