CURRENT AFFAIRS

Detailed explanation-1: -SwitchON Foundation, a West Bengal-based not-for-profit organization, has partnered with Punjab National Bank to facilitate solar pump financing for small and marginal farmers.

Detailed explanation-2: -A First Loss Default Guarantee Fund will be set up by SwitchON Foundation through which Punjab National Bank will be financing solar pumps.

Detailed explanation-3: -Lubi Solar: It was established by its CEO Narendra Parik in 1965 in Ahmedabad, Gujarat. They started manufacturing solar pumps in 2012. They make 4500 modules of cast iron pumps & solar pumps. They also design & manufacture solar pumps according to need of the customers.

Detailed explanation-4: -Under the scheme, small and marginal farmers are eligible for 1800 watt(2 HP) surface solar pump and 3000 watt(3 HP) submersible solar pump and other big farmers of the state are eligible for 4800 watt (5 HP) submersible pumps. Priority will be given to small and marginal farmers.

Detailed explanation-5: -Under PM-KUSUM Scheme it is targeted to achieve 10000 MW capacity through installation of grid-connected solar power plants each of capacity upto 2 MW under Component A and solarisation of 35 lakh agriculture pumps under Component-B and Component-C.