NEW DELHI: In an attempt to further boost India’s emerging green economy, the ministry of new and renewable energy (MNRE) would try to impress upon the Reserve Bank of India for removal of the priority sector lending limit for the renewable energy sector, the government said in a statement on Monday.
This comes in the backdrop of the National Democratic Alliance (NDA) government’s agenda of providing reliable, sustainable and affordable electricity to the masses in its second term and focusing on changing the energy mix towards green energy sources.
“This will encourage the PSBs (public sector banks) to lend more for RE (renewable energy) projects and help RE developers access easy finance,” the MNRE ministry said in a statement on Monday after a review meeting held by power and new and renewable energy minister Raj Kumar Singh.
