JK Bank to offer interest-friendly loans for solar rooftop scheme

In a boost to the installation of solar rooftops under the PM Surya Ghar, the Jammu Kashmir Bank has joined hands with Kashmir Power Distribution Corporation Limited (KPDCL) to offer interested domestic consumers collateral-free and interest-friendly loan facility for rooftop solar plants up to 10 kWp.

A spokesperson said the bank had issued the guidelines for bearing the full cost of RTS upfront under the MN&RE’s flagship scheme, “which shall provide much-needed fillip to the domestic consumers to adopt the scheme, which is 60% subsidised for plants up to 3 kWp.”

The spokesperson welcomed the bank’s decision to partner with Kashmir discom in making PM Surya Ghar scheme a household name in the Kashmir Division.

“All those consumers who have registered on the National Portal can now also apply on Jan Samarth portal or visit the nearest J-K Bank branch to avail the loan facility,” he explained.

According to officials, as many as 3,253 domestic consumers have formally applied on the National Portal in Kashmir Division, with 1,182 having selected vendors. Nearly 200 consumers have already installed the solar roof-tops under the scheme with installed capacity of 748.07 kW.

The spokesperson said the number of consumers interested in adopting the roof-top solar scheme would substantially go up. “The Central and UT subsidy, with upper ceiling of Rs 94,800, under the scheme shall be adjusted against the loan availed by the consumer, immediately after the plant is commissioned,” he said, adding that the EMI shall be reconciled accordingly.

200 consumers have installed it already

Nearly 200 consumers have already installed the solar roof-tops under the scheme with installed capacity of 748.07 kW