- The Ministry of New and Renewable Ministry (MNRE) has announced that it will infuse ₹1,000 crores in the state-run Solar Energy Corporation of India (SECI). This has been done to enhance the capital asset base of SECI.
- As per present RBI norms, an agency can extend loans on 20 percent of its net worth. With infusion of Rs 1000 crore in SECI its network will increase and hence it can extend more loans.
- With this additional capital infusion, the government aims at financing renewable energy (RE) capacity of 3,300 megawatt (MW).
- In 2015 Government had allowed the change of name from “Solar Energy Corporation of India (SECI)” to “Renewable Energy Corporation of India (RECI)”
Points to remember:
- Amount of capital infusion in SECI by MNRE?
- the government aims at financing renewable energy (RE) capacity of _____ (MW) by infusing Rs 1000 crore in SECI?- 3,300 megawatt
- As per RBI guidelines, an agency can extend loans on ______ of its net worth.- 20 percent
Source: Hindu business line