The National Bank for Agriculture and Rural Development (NABARD) on December 31, 2024, issued a circular regarding the Special Refinance Scheme for the Installation of Solar Rooftop Systems for the residential sector – NBFCs.
The following has been stated: -
•NABARD has introduced a Special Refinance Scheme to support the installation of Solar Rooftop Systems in residential buildings, focusing on rural areas and towns with populations under 50,000.
•The scheme offers concessional refinance rates for systems ranging from 200W to 10KW, with the option to combine it with the PM Surya Ghar Muft Bijli Yojana subsidy.
•NBFCs are encouraged to promote this scheme to farmers and rural households. FPOs, SHGs, and Federations can help raise awareness among potential beneficiaries.
•Operational guidelines are provided in the Annexure.
• It applies to NBFCs, NBFC-MFIs, Public Sector Commercial Banks, Private Sector Commercial Banks/Foreign Banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs) SFBs, State Cooperative Banks (StCBs), Subsidiary Companies of NABARD.
[Circular No. Ref. No. NB.DOR.HO/PPS - 17/113106/2024-25]
