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    Question

    How Many options correctly represents the provisions

    mentioned in the IREDA and Punjab National Bank MoU? 1. Joint lending, loan syndication, and underwriting for renewable energy projects. 2. Investment in bonds issued by either IREDA or PNB. 3. Competitive terms of sanction, including pricing on IREDA borrowings.
    A Only 1 Correct Answer Incorrect Answer
    B Only 2 Correct Answer Incorrect Answer
    C All 3 Correct Answer Incorrect Answer
    D Either 1 or 3 Correct Answer Incorrect Answer
    E None is correct Correct Answer Incorrect Answer

    Solution

    •     Indian Renewable Energy Development Agency Ltd. (IREDA) and Punjab National Bank (PNB) have signed a Memorandum of Understanding (MoU) aimed at advancing renewable energy initiatives across the nation. •     The agreement paves the way for joint efforts in co-lending and loan syndication for a diverse spectrum of renewable energy projects. •     The MoU comprises various provisions aimed at enhancing support for renewable energy projects. •     These include joint lending, loan syndication and underwriting, management of Trust and Retention Account (TRA) for IREDA borrowers, and working towards competitive terms of sanction, including pricing on IREDA borrowings. •     Through the collaboration, IREDA and PNB can also invest in bonds issued by either organization. • Learn Along: • About IREDA •     Indian Renewable Energy Development Agency Limited (IREDA) is a Mini Ratna (Category – I) Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE). •     IREDA is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987 engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation with the motto: “ENERGY FOR EVER” •     Chairman and Managing Director: Pradip Kumar Das •     About PNB •     Chairman: K G Ananthakrishnan                   Established: May 19, 1894           Headquarters: New Delhi

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