Page 36 - The Indian EYE 083024

BUSINESS EYE AUGUST 30, 2024 | The Indian Eye 36

India and US discuss collaboration under

‘Power & Energy Efficiency Pillar’

John Podesta says that India is a valuable partner and both countries support each other in

building resilient supply chains and investment-led partnership strategies

OUR BUREAU He also remarked that India and
the US can collaborate on areas like
New Delhi
clean energy, energy storage systems
nion Minister for Power and energy efficiency. He further said
Manohar Lal, accompanied that the US can support India in en-
Uby Power and New and Re- hancing its manufacturing capacity.
newable Energy Minister Shripad During the meeting, both sides
Naik on Thursday held a meeting explored the possibility of techni-
with a US delegation to discuss en- cal exchanges on efforts to upgrade
ergy collaboration between the two grid transmission to handle future
countries. load growth.
During the discussions, the Pow- Discussions also covered policy
er Minister emphasised the long- consultations and potential finan-
standing bilateral partnership be- cial support to advance these mod-
tween India and the United States, ernisation efforts.
highlighting the shared commitment In addition, the ways to enhance
to a ‘clean’ energy future that fosters the manufacturing capacity were
economic growth and development, also discussed during the meeting.
the Ministry of Power said in a state- Both sides explored possibili-
ment. ties of state-to-state partnerships on
The union minister further states long-duration energy storage stud-
that the Ministry of Power is commit- ies, with further collaboration on
ted to strengthening this partnership. grid-scale battery storage solutions,
Emphasising the need for col- as per the statement.
laboration, he said that India and John Podesta, who led the US delegation, remarked that India and the US can collaborate on Going further, the discussions
US engagements under the ‘Power & highlighted the importance of stim-
Energy Efficiency Pillar’, which is led areas like clean energy, energy storage systems and energy efficiency (File photo) ulating manufacturing projects and
by the Ministry of Power under the policies to increase India’s capacity
Strategic Clean Energy Partnership John Podesta, who led the US port each other in building resilient to build, deploy, and export high-ef-
(SCEP), are important to realise our delegation said that India is a valu- supply chains and investment-led ficiency air conditioning systems
goals to achieve the energy transition able partner and both countries sup- partnership strategies. and fans.

FM asks Regional rural banks to ensure credit

to small & micro enterprises

nion Finance Minister Nir- meeting to review the performance of vices, and ensuring robust corporate PM Vishwakarma scheme in their
mala Sitharaman on Thurs- nine Regional Rural Banks (RRBs) governance are the areas that require areas of operation to provide credit.
Uday asked Regional rural of the states of Gujarat, Maharashtra, continued focus. RRBs were also directed to in-
banks (RRBs) to ensure easy credit Madhya Pradesh, Chhattisgarh and Sitharaman noted the lower crease their share in ground-level
to Micro, Small and Medium En- Rajasthan, in Udaipur today. offtake of the MUDRA scheme in agriculture credit disbursement and
terprises (MSMEs). She asked the The review meeting focused on the Bundelkhand region and directed achieve the stated objectives of Pri-
RRBs to become more custom- business performance, upgrading the State Level Bankers’ Committee ority Sector Lending.
er-friendly and leverage their local digital technology services, fostering (SLBC) to hold specific meetings with The Union Finance Minis-
connections to further improve per- business growth in MSME clusters, State Government officials, Sponsor ter acknowledged the satisfactory
formance. and deepening financial inclusion in Banks and RRBs to improve the per- improvement in the technology
All RRBs have devised cus- rural areas. formance of the MUDRA scheme upgradation of the nine RRBs of
tomised MSME products aligning Union Finance Minister also along with other financial inclusion the Western Central region since
with cluster activities. However, they highlighted that Sponsor Banks and schemes in Bundelkhand region and 2022 - the year when regular review
need to regularly review their credit RRBs must recognise the challenges aspirational districts. of RRBs started; and urged these
portfolio in that segment, she said. that lie ahead, especially maintaining Similarly, RRBs were directed RRBs to continue the momentum
The Finance Minister chaired a asset quality, expanding digital ser- to identify potential trades under the in future also.

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