In the last few months, a new revolution has been seen in the energy sector in India. The popular scheme of the Central Government “PM Surya Ghar Muft Bijli Yojana” (PM-SGMBY) has shown the way to free or cheap electricity to millions of Indian families. Latest data received from Jan Samarth Portal shows that by the end of September 2025, public sector banks have approved more than 5.79 lakh solar loan applications. Their value is more than Rs 10,907 crore.
June to September: Multifold increase in applications
If we look at the figures of June 2024, then only 3,070 loan applications were approved, through which Rs 58 crore were delivered to the homes. But between March and September 2025, this graph went up rapidly. A total of 1,98,343 loan applications were approved in March 2025, providing assistance of Rs 4,528 crore. And this figure more than doubled in September 2025, when 5,79,586 loan applications were approved and loans worth Rs 10,907 crore were issued. This shows that the popularity of the scheme is touching new peaks every month.
What are the benefits of the scheme?
The biggest feature of PM Surya Ghar Muft Bijli Yojana is that through this, finance is easily available for installing solar panels on the roofs of houses. Beneficiaries are being given cheap loans without collateral, with low interest rates and the documentation process has been greatly simplified. Public sector banks have made several reforms to enable this scheme, such as adding co-applicants, removing capacity-based limits and expanding eligibility. Due to this, now more people are coming forward to be a part of this scheme.
Reason for government monitoring and fast implementation
Both the Ministry of New and Renewable Energy and the Department of Financial Services together continuously monitor the loans given under this scheme and its progress. State level bankers’ committees and leading district managers are also becoming increasingly active and helping in extending the benefits of the scheme to the ultimate beneficiary. This has not only made the application process easier but has also increased awareness of the scheme.
What to expect in the future?
The way solar loan figures have doubled in the last six months, it is clear that in the coming time this scheme will reach more people in both rural and urban areas. With the government continuously improving the credit delivery process of the scheme, people will be able to avail its benefits quickly and easily. Along with this, India is continuously moving towards self-reliance in the field of energy.