SOLAR HOME LIGHTING SYSTEM

PURPOSE To overcome the problem of power shortage that is being faced by the public particularly in rural & semi urban areas and to exploit the solar energy as much as possible to preserve the fossil fuel, i.e. coal, oil, gas and to fulfill the need for electricity, the use of solar energy, for domestic and commercial heating and lighting, emerged as the most viable and sustainable solutions to the energy problems. Bank is actively participating in NABARD / Govt. of India's "Capital subsidy-cum-Refinance Scheme" solar loan
ELIGIBILITY Households in rural, semi urban or urban areas, business establishments, Hospitals, Hotels / Restaurants etc.
QUANTUM OF FINANCE Maximum 85% of the project cost
MARGIN 20% of the project cost, where capital subsidy is available.     
SUBSIDY 30% of benchmark cost
RATE OF INTEREST 5% p.a.
REPAYMENT In 5 years in monthly / half yearly installments.
NOTE The Bank plans to engage Business Facilitators to propagate the scheme, promote financing under it and also to ensure maintenance of the Solar Home Lighting units with a vision to provide partial employment to rural youth. 

 

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