(MENAFN- KNN India) New Delhi, Oct 8 (KNN) As of September 2025, Public Sector Banks (PSBs) have sanctioned over 5.79 lakh loan applications totaling Rs 10,907 crore under the PM Surya Ghar Muft Bijli Yojana.

The initiative, implemented with the support of the Department of Financial Services (DFS) and the Ministry of New and Renewable Energy (MNRE), has been strengthened through an efficient and fully digital credit delivery process.

Loans are facilitated via the JanSamarth Portal, which is integrated with the National Portal for PM Surya Ghar Muft Bijli Yojana gov), ensuring a seamless end-to-end experience for beneficiaries.

The framework promotes collateral-free, affordable loans at lower interest rates, simplifying access to financing for households.

Under the model loan scheme, beneficiaries can avail loans of up to Rs 2 lakh at competitive interest rates without collateral, along with an extended repayment period aligned with electricity cost savings.

The scheme also offers a six-month moratorium, reduced margin contribution, and a digital sanction process based on self-declaration, streamlining the overall procedure.

To further expand the scheme's outreach, several enhancements have been introduced, including the inclusion of co-applicants to widen eligibility, removal of capacity-based caps, and simplification of documentation requirements.

These measures, developed in consultation with PSBs, aim to increase adoption and ensure greater accessibility for households across diverse regions.

The DFS continues to review implementation in coordination with the MNRE through regular engagement with State Level Bankers Committees and Lead District Managers.

(KNN Bureau)

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