This bank has made a big change in home loan rules. bank customers must know about this. bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>state bank of india (SBI), the country's largest bank, has made some changes in its home loan rules. sbi has made rooftop solar installation mandatory in home loan schemes for residential projects. In simple language, such projects require the builder to install a solar power system on the roof of the house under construction. This applies to home loan borrowers under sbi Green Finance. sbi has approved a loan of over Rs 6.3 lakh crore till June.
SBI has $2.3 billion in foreign currency loans from multilateral institutions such as the World bank, Asian Development bank and Germany's KfW. SBI's director of risk, compliance and stressed assets management, ashwini Kumar Tiwari, said that these loans are available for 10 to 20 years. These loans have tenors of 10 years or 20 years, which creates foreign exchange risk for borrowing banks. Given the risks involved in long-term foreign currency borrowings, ashwini Kumar Tiwari urged multilateral banks to allow borrowing banks to hedge their exposure.
SBI's Green Finance Program aims to promote activities directly focused on clean climate like tree planting, bio-toilets, solar lights, lamps, panels etc. The World bank began financing "solar roofs" in 2016. Based on this, money is given to the world's leading companies. It aims to connect consumers with clean climate campaigns.