PSBs Sanction INR 10,907 Crore Loans for Over 5 Lakh Applications Under PM Surya Ghar Yojana
Public Sector Banks have sanctioned over 5.79 lakh loan applications worth INR 10,907 crore under the PM Surya Ghar Muft Bijli Yojana. PSBs have also offered several enhancements such as inclusion of co-applicants and removal of capacity-based caps to expand the scheme’s reach.
October 08, 2025. By Mrinmoy Dey
The implementation of the PM Surya Ghar Yojana is actively supported by streamlining the credit delivery process, facilitating collateral-free affordable loans at lower interest rates and simplified financing through PSBs, Ministry of Finance said in a statement.
The loans are processed through the JanSamarth Portal, integrated with the National Portal for PM Surya Ghar Muft Bijli Yojana, ensuring an end-to-end seamless digital application process, enhanced user experience and data-driven decision making for beneficiaries, it said.
The model loan scheme offers key benefits including, loans up to INR 2 lakh at competitive interest, without collateral, longer tenor for repayment in line with the electricity cost saving, 6-month moratorium period from disbursement, lower margin contribution by the applicant and a digital sanction process based on self-declaration.
With active participation from Public Sector Banks, several enhancements have been introduced to ease access to loans and expand the scheme’s reach. Notable improvements in the loan scheme, such as inclusion of co-applicants to broaden scope of eligibility, removing capacity-based caps and simplified documentary requirements, have been incorporated based on feedback from the users, stated the Ministry.
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