PSBs turn down nearly four in 10 rooftop solar applications

Public-sector banks (PSBs) have rejected 305,667 applications under the PM Surya Ghar: Muft Bijli Yojana out of a total of 803,515 applications received since its launch in February 2024 until August 2025, translating intoa rejection rate of 38.03 per cent, according to a senior government official.

- HARSH KUMAR

‘The scheme, launched in February 2024 with a total outlay of $75,021 crore tosupport rooftop solarinstallationsand provide upto 300 units of free electricity, has so far seen PSBs sanction 8,417.5 crore, witha total of 447,736 applications sanctioned. Apart from PSBs, private banks, regional rural banks, and non-banking financial companies also sanction loans under the scheme.

According to a Parliament reply by Union Minister for New and Renewable Energy Pralhad Joshiin Augustthis year, a total of 5.8 million applications have been submitted on the national portal and 1.6 million households have benefited from rooftop solar installations underthe scheme as of July 31 this year.

‘According tothe official government portal, 1.6 million installations have been made under the programme from 6.1 million applications received.