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

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.