Green funding: SBI to bundle home loans with rooftop solar installations
The country’s largest lender SBI plans to bundle and make home loans with rooftop solar installations mandatory for residential projects funded from the bank’s long term climate action funds drawn down from multilateral agencies.
The SBI, which has a home loan book of over Rs 6.3 lakh crore as of June, has outstanding forex loans of USD 2.3 billion from multilateral lenders, including the World Bank, the Asian Development Bank, and KfW of Germany.
“We are planning to make it mandatory for builders to make rooftop solar installations if the project is funded from our green funds,” Ashwini Kumar Tewari, a Managing Director in charge of international banking, information technology and associates & subsidiaries at SBI, said.
