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India: Solar Thermal Gains from Priority Sector Lending

Submitted by Baerbel Epp on May 19, 2015
The Reserve Bank of India (RBI) has revised priority sector lending norms, according priority sector lending status to renewable energy. Regulation Priority Sector Lending – Targets and Classifications published on 23 April 2015 mentions renewable energies as one of the priority sectors for bank loan schemes (see the attached document), meaning Indian banks will have to set aside a certain share of their total advances for renewable technologies. According to article 7, the loan limit for individual households will be Indian Rupee (INR) 1 million (around EUR 13,000). Market insiders are convinced that solar thermal technology will profit the most from it, as there has not yet been a financing scheme for purchasing solar water heaters or solar concentrator cooking systems. 
 

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