Now Reading: Uttar Pradesh pushes banks to speed up solar rooftop loan disbursal
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Uttar Pradesh pushes banks to speed up solar rooftop loan disbursal
UPNEDA Director Ravinder Singh has directed public sector banks to accelerate loan disbursement under the PM Surya Ghar: Muft Bijli Yojana in Uttar Pradesh. At a review meeting in Lucknow, Singh instructed…
UPNEDA Director Ravinder Singh has directed public sector banks to accelerate loan disbursement under the PM Surya Ghar: Muft Bijli Yojana in Uttar Pradesh. At a review meeting in Lucknow, Singh instructed banks to minimise unnecessary rejections, process applications in a time-bound manner, and clear approved loans quickly to prevent delays in rooftop solar installations.
The meeting, attended by officials from SBI, Bank of Baroda, PNB, Union Bank, Canara Bank, Bank of India, Central Bank, Indian Bank and UCO Bank, along with REC and SLBC representatives, reviewed the status of pending applications, approvals and documentation. Singh also directed priority resolution of procedural issues on the scheme portal and Jan Samarth platform.
UPNEDA aims to ensure easy, transparent and timely loan facilities for eligible families adopting solar energy. Banks have been asked to conduct regular reviews of pending cases through SLBC and ensure early disposal.
Indian Opinion Analysis
The PM Surya Ghar Yojana, launched in February 2024, targets 1 crore rooftop solar installations nationwide by 2026-27, with a central subsidy of up to Rs 78,000 per household. Uttar Pradesh, with over 24 crore population, is a key state for meeting this target. The directive to banks comes as slow loan disbursal and high rejection rates have been flagged as bottlenecks in earlier reviews. UPNEDA's monitoring committee will track bank-wise pendency, and the next progress review could indicate whether the state is on track to meet its share of the national goal.
Source: freepressjournal.in
This brief was synthesised by AI from the source linked above.
