- The joint initiative will be implemented under the Union Solar Scheme of the UBI.
- The primary objective of the partnership is to improve access to green energy and to make MSMEs cost-effective.
- The Solar EPC (Engineering, Procurement, and Construction) services will be provided by the TPSSL.
- Under this initiative, a loan of up to INR 8 crores could be availed by the MSMEs with minimum or no collateral and at least interest rates.
- The UBI is a banking services company that was established in 1919 with its headquarters in Mumbai. The current Chairperson of the company is A Manimekhalai.
- The TPSSL is a subsidiary of Tata Power Renewable Energy Limited and was established in 1989 with its headquarters in Mumbai.
Question:
Q.1 Which public sector bank recently partnered with Tata Power Solar Systems Limited (TPSSL) to assist the MSME sector in rooftop solar financing?a. SBI
b. UBI
c. BOB
d. Canara Bank
