Reserve Bank of India Makes Renewable Energy Projects Eligible for Priority Financing

摘要

The Reserve Bank of India said it will make small renewable energy projects eligible for priority financing. The nation's banks will offer loans of up to 150 million Indian rupees ($2.37 million) for purposes such as the purchase of solar-based power generators, biomass-based power generators and windmills, as well as for nonconventional energy-based public utilities such as street-lighting and remote village electrification systems. For individual households, the loan limit will be 1 million Indian rupees ($15,800) per borrower. Under the priority lending route, banks must provide 40 percent of the net banking credit to specified sectors, according to the Reserve Bank of India's April 23 announcement.