1. Significant Purchase (By the year 2025):
- Loan Sanctions: Public Sector Banks (PSBs) approved more than 5.79 lakh (579,000) loan applications.
- Total Amount: The authorized sum is the 10,907 crore, which will be used to install the rooftop solar systems in Indian households.
2. Key Loan Benefits:
- Collateral-Free: Loans up to 2 lakh will be offered without collateral requirements.
- Competitive Terms: It has competitive interest rates, a given time of long repayment and 6 months moratorium on the loan borrowed when there is disbursement.
- Low Margin: It requires a lower margin contribution of the borrower.
- Digital & Simple: It is completely digital and is self-proclaimed sanctioned so that it is simple.
3. Computer Processing and Implementation:
- Platform: The entire loan processing is done online through JanSamarth Portal, which is connected with the national portal of the scheme (pmsuryaghar.gov.in).
- Monitoring: The Department of Financial Services (DFS) and the Ministry of New and Renewable Energy (MNRE) monitor implementation via State Level Bankers Committees (SLBCs) to include a greater number of people.
4. Recent Enhancements:
- Following the user comments, the scheme has been enhanced with:
- Inclusion of a co-applicant.
- Easing capacity-based caps.
- Simplified documentation.
Month: Current Affairs - October 10, 2025
Category: BANKING, FINANCE and BUSINESS