FinMin Prods Banks To Speed Up Rollout Of PM Surya Ghar Scheme

Solar Power Play

- HARSH KUMAR

In a move to accelerate the rollout of the Pradhan Mantri Surya Ghar Muft Bijli Yojana (PMSGMBY), the Union finance ministry has directed banks to use the National Portal for the scheme as the single source for consumer validation, installation verification, and site feasibility assessment, doing away with all physical verification that consumes lots of time, according to a senior government official.

PMSGMBY is a solar energy scheme for both rural and urban households.

"A digital-only approach should be adopted as the default, eliminating the need for any physical interactions. It is recommended that the full subsidy tranche be disbursed to vendors based on their performance ratings. In terms of product reforms, mechanisms should be introduced to support applicants without a Credit Information Bureau (India) Limited (CIBIL) score," said the official.