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SIDBI partners with Tata Power to Finance Solar Rooftop Initiatives

Published on September 15, 2023
Current Context: SIDBI is the Small Industries Development Bank of India, which is the principal financial institution for the promotion, financing and development of Micro, Small and Medium Enterprises (MSMEs) in India.
SIDBI partners with Tata Power to Finance Solar Rooftop Initiatives
  • Tata Power is India’s largest integrated power company, which has a presence across the entire power value chain, including renewable energy.
  • SIDBI and Tata Power have partnered to launch an affordable and collateral-free financing scheme for MSMEs who want to adopt rooftop solar solutions for their businesses.
  • This scheme will enable MSMEs to access solar energy from Tata Power or its subsidiaries without any collateral at an interest rate less than 10%. The scheme will also have a quick sanction and disbursement process (within 7 days with disbursement in 4 days).
  • This partnership aims to promote solar energy adoption among MSMEs and support them in reducing their carbon footprint and energy costs.
  • According to the MoU signed by SIDBI and Tata Power, MSMEs who install rooftop Solar PV plants from Tata Power will also get financial assistance and easy financing options from SIDBI.

Question:

Q.1 What is the name of the scheme launched by SIDBI and Tata Power to offer affordable and collateral-free financing for MSMEs who want to adopt rooftop solar solutions?
a. Solar Big Fest
b. Solar Easy Loan
c. Solar 4E Scheme
d. Solar MSME Scheme
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