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Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan-(pmkususm)
Important Details

PM KUSUM (Pradhan Mantri Kisan Urja
Suraksha evam Utthan Mahabhiyan)

To meet farmer’s contribution towards - solarisation
of grid connected agriculture pumps

PM KUSUM - Lending Rates

The Ministry of New and Renewable Energy (MNRE), Government of India, has launched the scheme to encourage farmers to increase their additional source of income by utilizing their barren and un-cultivable land for solar or other renewable energy based power plants while selling their surplus renewable energy power to DISCOMS.

The loan can be used to meet farmers contribution towards:

The transformation of grid-connected agricultural pumps to solar power is a significant initiative under the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) scheme.
Installation of stand- alone solar agriculture pumps and for solarisation of grid connected agriculture pumps
Installation of solar power plants on barren/fallow land or in stilt fashion on agriculture land owned by farmer

Service of relationship manager

Low margin required from customer

Cash flow based repayment schedule

Helps generate additional income

Lending Rates
For Loans on REPO Rate

Rate of interest will be linked to Prevailing Repo Rate. Ceiling Rate will be 17.99% per annum. PF 1.50% plus applicable taxes.

Customer Rate/Pricing (ROI) shall be Repo Rate + Spread.

Repo Rate Reset Frequency – Once in 3 Months or as may be decided by Bank, whichever is earlier.

The Bank will publish the Repo Rate periodically.

The Bank is free to decide the spread over the Repo Rate. The Repo Rate for a particular account will remain the same till reset/renewal date.

All fresh/enhancement loan booked and renewal of existing loan on or after 1st August 2022 will be linked to Repo Rate.

Existing MCLR/Fixed Rate customers will continue at existing benchmark till renewal.

For Loans on Base Rate/MCLR/ Fixed rate

Existing Loan on Base Rate/ MCLR/ Fixed rate will continue to be at existing benchmark till renewal.

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Important Links

Progress with us Blog

NRE or NRO – Which Account Best Suits Your Needs?

Mahesh is a Non Resident Indian (NRI) living in the UK. He is doing well in the business that he set up there....

PM KUSUM - Lending Rates

Service of relationship manager

Low margin required from customer

Cash flow based repayment schedule

Helps generate additional income

Lending Rates

For Loans on REPO Rate

For Loans on Base Rate/MCLR/ Fixed rate

Important Links

Related Links

Progress with us Blog

NRE or NRO – Which Account Best Suits Your Needs?

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