National Bank for Agriculture and Rural Development (NABARD) is acting as an agency for release of subsidy/refinance for Solar Home Lights and Solar Water Heaters under Jawaharlal Nehru National Solar Mission implemented by Ministry of New and Renewable Energy (MNRE), Government of India.
NABARD has released subsidy of Rs. 35.50 crore and refinance of Rs. 32.18 crore to banks (at concessional interest of 2%) under Jawaharlal Nehru National Solar Mission during 2010-11, 2011-12 and 2012-13 (as on 31st July 2012). NABARD also provides funds under Rural Innovation Fund to solar projects.