India Central Bank defers plan to mandate climate risk disclosures by banks, sources say

India's central bank has postponed plans to mandate climate risk disclosures for banks, as it is not currently a priority. Proposed guidelines, which were under discussion since 2022, aimed to require banks to disclose climate-related risks in their loan portfolios. The deferment will allow banks to maintain existing credit policies without impacting climate-sensitive borrowers. Additionally, there is a regulatory mismatch between the Reserve Bank of India and the Securities and Exchange Board of India regarding climate risk disclosures. India ranks ninth in climate vulnerability, highlighting the importance of addressing these risks.