SBI Signed MoU with Jakson Engineers to Promote Solar Energy Adoption in India

Current Context: The State Bank of India (SBI) has signed a Memorandum of Understanding (MoU) with Jakson Engineers Limited to promote solar energy adoption across India on 8th August 2024, in Mumbai.

• This collaboration is part of the SURYA SHAKTI SOLAR FINANCE initiative, which aims to provide financial support to commercial, industrial, and institutional sectors for adopting solar energy solutions.
• The partnership combines SBI’s extensive banking experience with Jakson’s expertise in solar technology.
• It aims to make solar energy more accessible and affordable, contributing significantly to India’s renewable energy goals.
• SBI will offer loans up to ₹10 crore to support the deployment of rooftop solar projects, aligning with the government’s target of achieving 100 GW of rooftop solar capacity by 2030.

Question:

1 Under the SBI and Jakson Engineers Limited partnership, what is the maximum loan amount SBI will offer to support the deployment of rooftop solar projects?

• A) ₹5 crore
• B) ₹7 crore
• C) ₹10 crore
• D) ₹15 crore

Answer: C) SBI will offer loans up to ₹10 crore to support the deployment of rooftop solar projects under this collaboration.