Singapore / Bangalore, December 11, 2006 - SunTechnics officially signed a cooperation with Cauvery Kalpatharu Grameena Bank, a regional rural bank which serves Mysore, Chamarajnagar, Hassan, Tumkur, Bangalore urban and Bangalore rural districts. The bank has a wide network and is spread across these 6 districts of Karnataka with over 200 branches. SunTechnics clients directly profit from this close cooperation as it provides easy financing options for clean and environmental friendly energy from renewable energies. “Through this loan options we are able to offer a better service for our customers. This kind of tie-up is first of its kind and we expect to have similar arrangements with many more banks in the near future”, says Rajesh Bhat, Country Manager of SunTechnics India.
These rural banks play a vital role in educating the villagers about the importance of basic power at homes and how it can help in giving a better living condition to them and their children and further how banks can help them through easy payment options. The banks are able to largely influence the villagers whom they are also serving for agricultural reasons. One of the many objectives for the rural bank is to improve the economic and social conditions of the villagers.
Various banks follow different procedure of passing the benefit to the end customer. Some extend the subsidy as a one-time discount to the customer on the overall invoice value and henceforth collect payment in EMIs as per set interest rate or deduct the discounted value from the invoice value and hence reduce rate of interest on EMIs (interest subsidy). Latter holds true in case of Cauvery Kalpatharu Grameena Bank. |