New Delhi: In a significant push towards green energy adoption and self-reliance in electricity generation, Public Sector Banks (PSBs) have sanctioned over 5.79 lakh loans worth ₹10,907 crore under the PM Surya Ghar Muft Bijli Yojana (PMSGMBY), as of September 2025. The scheme, which aims to accelerate the deployment of rooftop solar installations across Indian households, is receiving robust financial backing through streamlined banking processes and digital facilitation.
Affordable Credit for Clean Energy Access
The implementation of the PM Surya Ghar Muft Bijli Yojana has been bolstered by making collateral-free, affordable loans easily accessible to the public through PSBs. The loans are offered at lower interest rates, ensuring that households, especially in semi-urban and rural areas, can avail themselves of the benefits of solar power without facing financial hurdles.
Seamless Digital Processing via JanSamarth Portal
Loan applications under the scheme are processed via the JanSamarth Portal, which is fully integrated with the National Portal for PMSGMBY (pmsuryaghar.gov.in). This digital interface has made the entire process seamless, user-friendly, and data-driven, significantly improving transparency and efficiency in credit disbursement.
Collaborative Monitoring and Outreach
The Department of Financial Services (DFS), in coordination with the Ministry of New and Renewable Energy (MNRE), actively monitors the loan progress under the scheme. Through coordinated efforts involving State Level Bankers Committees (SLBCs) and Lead District Managers (LDMs), the government aims to enhance the reach and adoption of the scheme, especially in remote and underserved regions.
Empowering Households with Rooftop Solar
The PM Surya Ghar Muft Bijli Yojana is a flagship government initiative launched to empower Indian households to generate their own electricity using rooftop solar systems, thus reducing reliance on grid power and lowering energy costs. The scheme not only contributes to household energy security but also supports India’s broader renewable energy and climate action goals.
With over ₹10,000 crore in loan sanctions already underway, the initiative is set to play a crucial role in decentralised energy production, economic empowerment, and environmental sustainability in the years ahead.
ABOUT PSBs
Public Sector Banks (PSBs) are government-owned financial institutions in India, where the majority stake is held by the central government. These banks play a crucial role in implementing various government schemes and financial inclusion initiatives. Under the PM Surya Ghar Muft Bijli Yojana, PSBs have been instrumental in providing collateral-free, low-interest loans to households, enabling them to adopt rooftop solar systems and contribute to the country’s clean energy goals.
Read also: DFS Organises PSB Manthan 2025 to Chart Future Roadmap for Public Sector Banks
