PM Surya Ghar Muft Bijli Yojana: PSBs Approved Loans Worth ₹10,907 crore

The PM Surya Ghar: Muft Bijli Yojana (PMSGMBY) has reached a pivotal achievement in promoting clean, affordable solar energy access for Indian households. As of September 2025, Public Sector Banks (PSBs) have sanctioned over 5.79 lakh loan applications, amounting to ₹10,907 crore, significantly strengthening financial support for beneficiaries installing rooftop solar systems.

Simplification of Loan Process

A cornerstone of the scheme’s success lies in the simplified and inclusive approach to financing. The loan process has been streamlined through the JanSamarth Portal, integrated seamlessly with the National Portal for PM Surya Ghar Muft Bijli Yojana (pmsuryaghar.gov.in). This digital integration ensures an end-to-end, user-friendly experience, facilitating collateral-free, low-interest loans and enabling data-driven decisions for applicants.

The model loan scheme under PMSGMBY offers several key features:

• Loans up to ₹2 lakh at competitive interest rates
• No collateral required
• Extended repayment tenures aligned with savings in electricity costs
• Six-month moratorium post-disbursement
• Minimal applicant contribution
• Fully digital sanction based on self-declaration

Driven by the active participation of PSBs, continuous enhancements have been introduced to improve accessibility and broaden the scheme’s reach. Noteworthy updates include:

• Inclusion of co-applicants to expand eligibility
• Removal of capacity-based restrictions
• Simplified documentation, informed by user feedback

Also Read: PM Surya Ghar Scheme: Government Targets 1 Crore Rooftop Solar Installations by 2026-27

Scheme Monitored by DFS

The Department of Financial Services (DFS), in collaboration with the Ministry of New and Renewable Energy (MNRE), regularly monitors the scheme’s progress. This is further reinforced through coordination with State Level Bankers’ Committees (SLBCs) and Lead District Managers (LDMs), ensuring effective ground-level implementation and faster adoption.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.