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Bank of India Solar Farm Financing
Financing Options from Bank of India
A Central Sector Scheme under the Pradhan Mantri Kisan Urja Suraksha Evam Utthan Mahabhiyan (PM KUSUM) initiative.
Features
No collateral is required for loans up to Rs. 1.60 lakhs.
Beneficiaries are eligible for a 60% subsidy under the scheme for Component A (Small Solar Power Plants) and Component B (Standalone Power Pumps), with the subsidy equally shared between the Central Government (30%) and the State Government (30%).
| Upto Rs.10.00 lakh | Above Rs 10 lakhs to Rs.5.00 crore | Above Rs.5 Crores |
| 7 business days | 14 business days | 30 business days |
Target
Establishing Decentralized Ground or Stilt Mounted Grid-Connected Solar or Renewable Energy-Based Power Plants
Establishing Decentralized Ground or Stilt Mounted Grid-Connected Solar or Renewable Energy-Based Power Plants
Eligibility
Farmers, groups of farmers, cooperatives, Farmer Producer Organisations (FPOs), Water User Associations (WUAs), proprietors, partners, LLPs, companies, and others.