SBI signs pact with World Bank ( July 04, 2016)

State Bank of India has inked agreements with the World Bank for a $625-million (around Rs.4,200 crore) facility to support grid connected rooftop solar programme in the country. This will help SBI finance grid connected rooftop solar photovoltaic projects at very competitive rates, the bank said in a statement. “This, in turn, will catalyse the market and support the government to faster achieve its target to generate 40 GW of electricity from widespread installation of rooftop solar photovoltaic panels,” it said. The eligible beneficiaries under the facility would be developers, aggregators and end-users, who wish to set up solar PV projects mainly on commercial, industrial and institutional rooftops.