Friday, May 27, 2022

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Cabinet approves infusion of Rs 1500 Cr in Indian Renewable Energy Development Agency Ltd.

The Union Cabinet today approved infusion of one thousand 500 crore rupees in Indian Renewable Energy Development Agency Limited, IREDA.

Briefing media in New Delhi, Information and Broadcasting Minister Anurag Thakur said it will enable IREDA to lend 12 thousand crore rupees to the renewable energy sector.

He said, this will enhance its net worth which will help it in additional Renewable Energy financing. The Minister said, it will also improve the capital-to-risk weighted assets ratio to facilitate its lending and borrowing operations. The decision will generate employment over ten thousand jobs every year.

 The Cabinet also approved extension of tenure of the National Commission for Safai Karamcharis for three years beyond 31st March 2022.

The Cabinet has also cleared the Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts.

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