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					</table><p>The Solar Energy Corporation of India (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>) has invited quotations for investment of ₹3 billion (~$36.07 million) in fixed deposits from scheduled commercial public sector banks.</p>
<p>Banks must send their latest competitive rates of interest with validity up to January 05, 2024.</p>
<p>SECI specified that deposits must be accepted only in branches located in Delhi.</p>
<p>In the event of multiple quotations, SECI will consider the one with the highest interest rate.</p>
<p>Bidding banks must have a minimum net worth of ₹10 billion (~$120.2 million) as of March 31, 2023, and should operate a branch in Delhi.</p>
<p>They are required to disclose their card rates for fixed deposits, paid-up capital as per the latest annual report, adherence to Reserve Bank of India guidelines, and net worth.</p>
<p>SECI retains the right to determine the quantum and period of fixed deposits. No penalty charges will be borne by SECI in case of pre-maturity, and the rates quoted should be unconditional, explicitly stating the absence of penalty charges for pre-maturity.</p>
<p>There is no minimum time frame for investment, and investments can be made in parts.</p>
<p>SECI recently <a href="https://www.mercomindia.com/seci-disbursements-november-2023/" target="_blank" rel="noopener">paid</a> solar and wind power producers ₹9.07 billion (~$108.9 million) for the energy purchased in November 2023. The disbursement reflected a decline of 9% from October but increased by 15% on a year-over-year basis.</p>
<p>In December, SECI <a href="https://www.mercomindia.com/seci-%E2%82%B910-billion-term-loan-300-mw-solar/" target="_blank" rel="noopener">invited</a> bids from scheduled commercial banks or financial institutions for a term loan of ₹10 billion (~$120.24 million) to develop a 300 MW solar power project in the Ramagiri village of Sri Satya Sai District in Andhra Pradesh.</p>
<p>Earlier, SECI <a href="https://www.mercomindia.com/seci-capital-credit-facility-6-billion/" target="_blank" rel="noopener">invited</a> quotations for a short-term working capital credit facility of up to ₹6 billion (~$72.3 million) to help it make monthly payments to solar, wind, and hybrid energy projects.</p>
<p>In March last year, SECI <a href="https://www.mercomindia.com/seci-short-term-working-capital" target="_blank" rel="noopener">requested</a> quotations for a short-term working capital credit facility of up to ₹5 billion (~$60.2 million).</p>


SECI Calls for Bids from Commercial Banks for ₹3 Billion Fixed Deposits

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