PSBs sanction loans worth Rs 10,907 cr under rooftop solar scheme

New Delhi, Oct 7 (PTI) State-owned banks have sanctioned over 5 lakh loans worth Rs 10,907 crore under PM Surya Ghar Muft Bijli Yojana which aims to increase the share of rooftop solar capacity empowering households to generate their own electricity, an official statement said on Tuesday.

The implementation of the PM Surya Ghar Muft Bijli Yojana (PMSGMBY) is supported by streamlining the credit delivery process, facilitating collateral-free affordable loans at lower interest rates and simplified financing through Public Sector Banks (PSBs), the statement said.

"As of September, 2025, PSBs have sanctioned over 5.79 lakh loan applications, amounting to Rs 10,907 crore, augmenting the financial support to the beneficiaries in installing rooftop solar systems," it said.

The loans are processed through the JanSamarth Portal, integrated with the National Portal for PMSGMBY (pmsuryaghar.gov.in), ensuring an end-to-end seamless digital application process, enhanced user experience and data-driven decision making for beneficiaries.

The Department of Financial Services in coordination with Ministry of New and Renewable Energy, actively reviews the progress of loans under the scheme, strengthening implementation through collaboration with State Level Bankers Committees and Lead District Managers, thereby driving faster adoption, better outreach and penetration of the scheme. PTI ABI KKS ABI ANU ANU