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Priority Sector lending dropped for renewables

<p><span style="color:#333333"><span style="font-family:arial,sans-serif"><span style="font-size:10.0pt">Players in the market alleges that banks are shying away to fund renewable energy project hue to hovering uncertainties. Private players demand that for giving impetus to the renewable sector, sector should be given priority status to trigger cash flows into the sector. Banks are reluctant to provide finances to projects due to risk involved in falling tariff, power evacuation issues and assets becoming NPA, as these raises question on viability of project. </span></span></span></p> <p>&nbsp;</p> <p><span style="color:#333333"><span style="font-family:arial,sans-serif"><span style="font-size:10.0pt">Government must expedite the issue by securing an optimal solution. Any negligence or delay may make it difficult for the Modi government to achieve its ambitious target of 175GW of renewable energy.&nbsp;</span></span></span></p>