CURRENT AFFAIRS

Detailed explanation-1: -With an aim to strengthen the existing financing arrangement for solar power projects, the country’s largest lender State Bank of India (SBI) has launched a dedicated centralized processing cell - ‘Surya Shakti Cell’. The Bank has entered into an Agreement with Tata Power Solar Systems Ltd.

Detailed explanation-2: -State Bank of India has launched a dedicated centralized processing cell - Surya Shakti Cell in collaboration with Tata Power Solar Systems.

Detailed explanation-3: -One of India’s oldest and largest public sector banks, Union Bank of India (UBI) has partnered with Tata Power Solar Systems Limited (TPSSL) to support the MSME (Micro, Small, and Medium Enterprises) sector’s transition to solar energy.

Detailed explanation-4: -The Surya Shakti Cell will process all the loan applications for Solar Projects (capacity up to 1 MW) sourced from across India, for installation by business entities as well as households.

Detailed explanation-5: -Tata Power and SIDBI partner to launch affordable financing for MSMEs in rooftop solar segment - Small Industries Development Bank of India.