Question

    Indian Renewable Energy Development Agency Ltd. (IREDA)

    has signed an MoU with which bank aims to streamline loan syndication and underwriting processes, management of Trust and Retention Account (TRA) for IREDA borrowers, and work towards fixed interest rates over a 3–4-year period for IREDA borrowings ?
    A IndusInd Bank Correct Answer Incorrect Answer
    B Indian Overseas Bank Correct Answer Incorrect Answer
    C Canara Bank Correct Answer Incorrect Answer
    D Bank of India Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Indian Renewable Energy Development Agency Ltd. (IREDA) has signed a Memorandum of Understanding (MoU) with Indian Overseas Bank (IOB), setting the stage for collaborative efforts in co-lending and loan syndication for a diverse spectrum of Renewable Energy projects across the nation. The partnership aims to streamline loan syndication and underwriting processes, management of Trust and Retention Account (TRA) for IREDA borrowers, and work towards fixed interest rates over a 3–4-year period for IREDA borrowings

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