Got more questions?
For any queries, locate the nearest branch.
Locate BranchesTo access the old website
Click Here
Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM KUSUM)
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.
Feature & Benefits
Type of Facility
Term Loan
Eligibility
Minimum 5 acres of landholding
Other details
Non-agricultural income above ₹5 lakhs is mandatory if they use the funds for:
Read MoreAge
Farmer Age- 18-75 years (Co-borrower is needed if age > 60 years)
Security
Primary security - Hypothecation of assets created out of bank finance
Collateral security
Agri collateral ( as per KCC guidelines)
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.
Other important details
Lending Rates
- Rate of interest will be linked to Prevailing Repo Rate.
- Customer rate/ pricing (ROI) shall be repo rate + spread.
- Repo rate reset frequency- every 25th day of last month of each quarter.
- The bank will publish the Repo Rate periodically on the bank's website.
- For the fair practices code followed by the bank, please click here.
- For brief details on all our products, please click here.
Important Links
Understand the rate of interest disbursed on farmer funding by clicking these links. You can also view rural lending- agri business centres here.
Related Products
Warehouse Receipt Loans
This customer-friendly rural loan faility helps prevent distress sales during harvest and offsets seasonal fluctuations.
Microfinance
Axis Bank provides microfinance to individuals that come from poor households to help support their businesses.
Micro Loans
Access quick and convenient banking solutions with minimal documentation to finance your short and long-term business needs. This includes competitive Agri Loan interest rates for rural customers.
Assistance
- Central Financial Assistance : 30% of the benchmark cost or the tender cost whichever is lower of the standalone agriculture pump
- State Government : 30% of the benchmark cost or the tender cost whichever is lower of the standalone agriculture pump
- Farmers Contribution : 40% (Bank finance: 30% and farmer initial payment: 10%)
Subsidy for North Eastern states, Sikkim, J&K , HP, Uttarakhand, Lakshwadeep and A&N islands
- Central Financial Assistance : 50% of the benchmark cost or the tender cost whichever is lower of the standalone agriculture pump
- State Government : 30% of the benchmark cost or the tender cost whichever is lower of the standalone agriculture pump
- Farmer Contribution : 20% (Bank finance: 10% and farmer initial payment: 10%)
Other details
Non-agricultural income above ₹5 lakhs is mandatory if they use the funds for:
- Solarisation of Grid Connected agriculture pumps
- The scheme also promotes the installation of solar power plants on unproductive or fallow lands, or alternatively, in an elevated manner above agricultural fields owned by farmers, as part of the PM Kisan Urja Suraksha and Utthan Mahabhiyan Yojana's objectives to enhance sustainable and renewable energy sources in the agricultural sector.
Copyright@ 2025 Axis Bank