Solar Energy Corporation of India Limited (SECI), a Navratna Central Public Sector Undertaking under the Ministry of New and Renewable Energy, Government of India, has invited financial quotations from eligible Scheduled Commercial Banks for investing its surplus corporate funds in callable term or fixed deposits of up to ₹120 crore.

The proposed investment will have a short tenure of eight days, with a flexibility of plus or minus one day. SECI has clarified that it is not required to invest the entire ₹120 crore at one time. The corporation may divide the amount into different tranches and decide the investment amount, tenure and participating banks based on the interest rates and terms offered.

The invitation includes several eligibility conditions to ensure the financial strength and stability of participating banks. Only Scheduled Commercial Banks listed on at least one recognized stock exchange in India are eligible to submit quotations. Banks must have a minimum net worth of ₹5,000 crore as of June 30, 2026.

SECI has also specified asset quality requirements. Eligible banks must maintain Net Non-Performing Assets below 2% and Gross Non-Performing Assets below 5%. In addition, participating institutions must have a minimum Long-Term Domestic Credit Rating of AA- or higher from a SEBI-registered credit rating agency.

Another requirement is that the participating bank must have an operational branch in the Delhi-NCR region through which the deposit can be processed. SECI has also stated that no penalty will be charged if the deposit is withdrawn before maturity.

Each bank is permitted to submit only one quotation containing its best and unconditional annualized interest rate. The quoted rate must remain valid until September 3, 2026. If a bank submits more than one quotation, SECI will consider only the quotation offering the highest interest rate.

Interest rates are required to be quoted separately for three investment slabs: amounts up to ₹10 crore, amounts above ₹10 crore and up to ₹50 crore, and amounts above ₹50 crore and up to ₹120 crore.

Along with the interest rates, banks must provide details such as paid-up capital, Capital Adequacy Ratio or CRAR, net worth, Gross and Net NPA levels, stock exchange listing details and contact information for their Delhi-NCR branch.

The deadline for submitting complete quotations was 4:00 PM on September 3, 2026, through email. For password-protected submissions, the passwords were scheduled to be shared at 4:10 PM through email communication or with SECI’s designated Finance Department officials.

SECI has emphasized that submitting a quotation does not create any binding obligation on the corporation. The management retains the right to accept or reject any quotation at its discretion and may decide the final investment structure based on the offers received.