IREDA Launches Retail Division for B2C Loans
Dec 08, 2023 19:22
IREDA introduces a retail division to provide loans for PM-KUSUM, rooftop solar, and other B2C sectors, aiming to boost renewable energy investment.
New Delhi, Dec 8 (PTI) State-owned Indian Renewable Energy Development Agency has floated a retail division for providing loans under PM-KUSUM scheme, Rooftop Solar, and other Business-to-Consumer (B2C) sectors.
IREDA Chairman & Managing Director Pradip Kumar Das announced the launch of the retail division while he was speaking during the Leaders' Dialogue on 'Actioning Solutions for Global Sustainable Development and Governance of Resources' on December 7, 2023, organized by CEEW & CII as part of COP28 in Dubai, IREDA said in a statement.
Shortly after opening, IREDA's retail division quickly sanctioned its first loan amounting to Rs 58 crores under KUSUM-B, it said.
Das also proposed a significant stride towards sustainable investing by suggesting a 1 to 2 per cent Assets Under Management (AUM) allocation for domestic pension and insurance funds into Renewable Energy (RE) bonds. This strategic move aims to deepen bond markets, fostering increased global and local investments. PTI KKS
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