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UBI Join Hands with TPSSL

Published on November 19, 2022
Current Context: The Union Bank of India (UBI) partnered with Tata Power Solar Systems Limited (TPSSL) to assist the MSME sector in rooftop solar financing.
UBI Join Hands with TPSSL
  • 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
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