Union Cabinet approves Rs 1,500 cr infusion in IREDA, says Thakur

Union Cabinet approves Rs 1,500 cr infusion in IREDA, says Thakur

The government on Wednesday decided to infuse Rs 1,500 crore in the Indian Development Agency Limited (IREDA), raising its lending capacity to Rs 12,000 crore.

A proposal in this regard was approved by the Cabinet Committee on Economic Affairs.

Briefing reporters after the Cabinet meeting, Information and Broadcasting Minister Anurag Thakur said the decision has been taken in the wake the RBI’s lending norms.

The minister said the infusion of Rs 1,500 crore will enable to lend Rs 12,000 crore to the renewable sector.

The Cabinet decision will help to create capacity of 3,500 to 4,000 MW.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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