New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    IREDA signed an MoU with which bank for co-lending and

    co-origination support for all Renewable Energy projects, facilitating loan syndication and underwriting, management of Trust & Retention Account for IREDA borrowers, and a commitment to establishing stable fixed interest rates spanning a period of 3-4 years for IREDA borrowings? 
    A Bank of India Correct Answer Incorrect Answer
    B Bank of Baroda Correct Answer Incorrect Answer
    C Bank of Maharashtra Correct Answer Incorrect Answer
    D Indian Bank Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Indian Renewable Energy Development Agency (IREDA), has signed a an MoU with Bank of Maharashtra (BoM).The MoU comprises several services including co-lending and co-origination support for all Renewable Energy projects, facilitating loan syndication and underwriting, management of Trust & Retention Account for IREDA borrowers, and a commitment to establishing stable fixed interest rates spanning a period of 3-4 years for IREDA borrowings. Under this agreement, Bank of Maharashtra can invest in the Bonds issued by IREDA in accordance with the specified terms and conditions of the offering.

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