IREDA and Indian Overseas Bank Join Hands

  • Indian Renewable Energy Development Agency Ltd. (IREDA) has signed a Memorandum of Understanding (MoU) with Indian Overseas Bank (IOB).
  • For co-lending and loan syndication for a diverse spectrum of Renewable Energy projects.
  • To streamline loan syndication and underwriting processes.
  • Management of Trust and Retention Account (TRA) for IREDA borrowers.
  • Work towards fixed interest rates over a 3–4-year period for IREDA borrowings.
  • Signed at IREDA’s Business Centre in New Delhi.
  • IREDA’s partnerships with financial institutions, include Bank of Baroda, Bank of India, Union Bank of India, India Infrastructure Finance Company Limited and Bank of Maharashtra.
Posted in Current Affairs.