PM Surya Ghar Muft Bijli Yojana Loans Cross ₹10,907 Crore

The PM Surya Ghar Muft Bijli Yojana (PMSGMBY) has made remarkable progress in 2025. Over 5.79 lakh loan applications have been sanctioned by Public Sector Banks (PSBs), with financial support exceeding ₹10,907 crore. This milestone marks the growing adoption of rooftop solar systems among Indian households. The scheme’s digital integration and simplified loan process have been key drivers of this success.

Overview of the PMSGMBY Scheme

The scheme promotes clean and affordable solar energy for households. It provides collateral-free loans up to ₹2 lakh for installing rooftop solar panels. Loans carry competitive interest rates and offer longer repayment tenors aligned with electricity cost savings. A six-month moratorium period is provided before repayment begins. The process is fully digital, requiring minimal documentation and based largely on self-declaration.

Role of Public Sector Banks

PSBs play important role in loan disbursal under PMSGMBY. They ensure easy access to finance by streamlining credit delivery. The scheme benefits from simplified procedures such as inclusion of co-applicants and removal of capacity-based loan caps. These measures widen eligibility and encourage more households to participate. PSBs use the JanSamarth Portal integrated with the national scheme portal for seamless loan processing.

Digital Integration and User Experience

The JanSamarth Portal enables end-to-end digital applications. It enhances user experience with a data-driven approach for decision-making. The portal reduces paperwork and accelerates loan approvals. This digital framework supports transparency and efficiency, making the scheme more accessible and convenient for beneficiaries across India.

Government Coordination and Monitoring

The Department of Financial Services works closely with the Ministry of New and Renewable Energy. Together they monitor loan progress and scheme implementation. Coordination with State Level Bankers Committees and Lead District Managers strengthens outreach. This collaboration ensures faster adoption and deeper penetration of rooftop solar systems in rural and urban areas.

Impact on Energy Sustainability

By enabling affordable solar installations, the scheme reduces dependence on conventional energy sources. It supports India’s renewable energy targets and climate goals. Households benefit from lower electricity bills and contribute to cleaner air. The scheme encourages energy independence and promotes sustainable living at the grassroots level.