The Hindu : Scheme to finance solar lighting system

Online edition of India's National Newspaper
Wednesday, Mar 05, 2003

Southern States

Southern States - Karnataka-Bangalore

Scheme to finance solar lighting system

By Our Special Correspondent

BANGALORE MARCH 4. The Chairman and Managing Director of Syndicate Bank, Michael Bastian, today launched a scheme to finance solar lighting system, at Attibele near here.

Speaking on the power scenario, Mr. Bastian said 80,000 villages were deprived of electricity. Solar home lighting system seemed to be the only alternative for such villages.

He said the bank had been financing solar home lighting system since 1996. It had implemented the scheme in Uttara Kannada, Dakshina Kannada, and Udupi districts. The response to the scheme in these districts was good. The bank had trained 1,000 branch managers in the implementation of the scheme. It had organised four training programmes for 150 trainers. Mr. Bastian said the scheme was launched in collaboration with the United Nations Environment Programme (UNEP) and the Shell Foundation. It was being implemented by Syndicate Bank and Canara Bank by extending subsidy, he added. The Executive Director of the bank, K.M. Shet, said the bank's branches would popularise the scheme and provide assistance to those who take it up.

The bank had plans to finance nearly 20,000 units during 2003-04.

Eric Usher of UNEP, France, Jyoti P. Painuly of UNEP, Denmark, Kurt Hoffman, Director of the Shell Foundation, London, and Dinker Rao, General Manager, Priority Sector and Rural Development Division of the bank, spoke.

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