With an aim to strengthen the existing financing arrangement for solar power projects, State Bank of India (SBI) has launched a dedicated centralized processing cell - `Surya Shakti Cell'. The Bank has entered into an Agreement with Tata Power Solar Systems Ltd. (a wholly owned subsidiary of The Tata Power Company Limited) for financing solar projects. Set-up in the Ballard Estate in Mumbai, the Surya Shakti Cell will process all the loan applications for Solar Projects (capacity up to 1 MW) sourced from across India, for installation by business entities as well as households.

The Bank 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. Besides this, the entire eco system has been thoughtfully set up to ensure that the customers get all necessary support and guidance to choose the right equipment, resolve technical issues at their door steps and get expeditious approvals of their loans at competitive rates.