State Bank of India (SBI) has entered into an agreement with Tata Power Solar Systems for financing of solar projects.
SBI has also set up a centralised processing cell – ‘Surya Shakti Cell’, at the Ballard Estate, Mumbai. The cell will process all the loan applications for solar projects (capacity up to 1 MW) sourced from across the country, for installation by business entities as well as households. SBI aims to provide an end-to-end platform for digital and hassle-free journey to the loan applicants for financing solar projects. With this digital initiative, SBI will offer a complete solution at competitive rates for solar projects.