To speed up the implementation of Pradhan Mantri Surya Ghar Muft Bijli Yojana (PMSGMBY), the Union Finance Ministry has directed banks to use the National Portal as a single source for consumer verification, establishment verification and site feasibility assessment under the scheme. A senior government official said that there will be no need for physical verifications for installing solar power plants in homes, so that the scheme can be implemented quickly. PMSGMBY is a solar energy scheme for rural and urban households.
“Only digital methods should be adopted so that the need for any physical contact can be eliminated,” the official said. It is also advised that the full subsidy installment be released to the vendors based on their performance. “In terms of product improvements, a mechanism should be introduced to assist applicants without Credit Information Bureau India Limited (CIBIL) score.” The source further said that a new financing mechanism should be introduced for working capital of vendors and private sector banks should be encouraged to adopt this mechanism.
“To support this transition, renewable financial obligations should be explored and integrated,” the official said. Also, priority sector lending (PSL) and other supportive policy measures should be expanded. Emphasis should be on grassroots activities like technical and product training, consumer awareness programs at the grassroots level.
First Published – April 28, 2025 | 10:42 PM IST
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