The credit under the bill discounting scheme will be available to MNRE Accredited Channel Partners (ACP), State Nodal Agencies (SNA) and other stake holders for purchase and installation of Solar Water Heating System (SWHS) as approved by MNRE
The amount of loan assistance/ Bill Discounting Shall be within the unutilized funds of Government Budget/MNRE Scheme for installations of Solar Water Heating Systems (SWHS). In case it is felt that the recovery/payment of subsidy amount against which loan assistance has been provided is doubtful, borrower will be liable to pay on demand entire such amount including interest and other charges to IREDA
1. Up to 80% of the existing pending eligible GBI claim, as verified by the IREDA GBI group.
2. Minimum loan assistance – INR 20 Lakhs.
3. 0.90% p.m. (10.80% pa) to be adjusted from the GBI receipts from MNRE against the claim. Shortfall, if any, will be payable by the borrower on demand. For interest calculation purpose, last date of the month in which GBI claim is received at IREDA will be considered
Non Fiscal Benefits:
1. Repayment- Loan amount to be recovered out of capital subsidy received / to be received from MNRE.
Shortfall, if any, will be recovered from the borrower, which will be payable on demand.
MNRE Accredited Channel Partners, State Nodal Agencies (SNA) and other
stakeholders as approved by MNRE, who have already submitted a valid claim of
Capital Subsidy at IREDA, which is pending for release of payment on account of
non- availability of funds, will be eligible under the scheme.
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