PTC fin arm ties up with banks for clean energy project loans
Posted on:01 Sep 2016 09:35:03
01 September 2016 Current Affairs GK: PTC India Financial Services , that the company has entered into arrangements with scheduled commercial banks whereby the banks will issue letter of credit to project companies in the renewable energy space.
Currently, such project companies are required to approach various banks and negotiate various associated costs for issuance of letter of credit, which generally takes 3-5 months.
Under the new arrangement, letter of credit can be opened in a much shorter time on case-to-case basis and project companies shall not be required to separately pursue with each bank.
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