The Indian Renewable Energy Development Agency (IREDA) aims to enhance the involvement of MSMEs in the renewable energy sector by providing them with more loans. Revealing this, IREDA Chairman and MD Pradip Kumar Das said that as of May 2022, MSMEs constitute only 1.86% of the Agency’s total loan assets of Rs 338.84 billion. Emphasizing that the primary constraint currently faced by MSME owners is their inability to get loans at reasonable interest rates, Das said IREDA has drastically improved the ease of doing business by enabling faceless loan sanctions and disbursements while reducing documentation and disbursement cycles and expanding its geographical footprint across India.
