The Ministry of New and Renewable Energy will ask the Reserve Bank of India to remove the priority sector lending limit for the renewable energy sector.
A decision to this effect was taken during a review meeting held by Minister of State (Independent Charge) for Power and New and Renewable Energy, RK Singh, here on Monday.
This will encourage the public sector banks to lend more for renewable energy (RE) projects and help developers access easy finance, an official statement said. Singh also requested banks to come forward to lend to the RE sector.
