The Solar Energy Corporation of India (SECI) has invited quotations from scheduled commercial banks to invest ₹4.5 billion (~$49.603 million) in term/fixed deposits.

The last date to submit bids is February 23, 2026.

The deposits will be made in branches located in the Delhi-NCR region.

Quotations will be accepted from a single bank; if they are received from multiple banks, quotations at a higher interest rate will be considered. The quoted interest rate must be valid until February 23, 2026.

Banks must quote interest rates for investments of up to ₹1.5 billion (~$16.534 million) for a 45-day tenure and up to ₹3 billion (~$33.069 million) for a 365-day tenure.

SECI will decide the quantum and period of the fixed deposit.

Public sector banks must have a net worth of at least ₹50 billion (~$551.145 million), while private banks must have a net worth of at least ₹150 billion (~$1.65 billion) as on December 31, 2025. These banks must have at least one branch in the Delhi-NCR region.

Both public sector and private banks bidding must have net non-performing assets (NPA) below 2% and gross NPA below 5%.

Banks must furnish their paid-up capital, capital adequacy, net worth, and non-performing assets as per the bank’s financial results for the third quarter of the financial year 2026.

In case of pre-maturity of investment, SECI will not bear any penalty charges, and rates may be quoted unconditionally.

There will be no minimum time frame for the investments. Investments may be made in parts as well.

Last year, SECI’s ₹6 billion (~$71.86 million) debenture issue was subscribed over 3.5 times. The unsecured, rated, non-cumulative, non-convertible, redeemable, and taxable debentures were listed on the National Stock Exchange.

Recently, SECI invited bids to set up a 10 MW grid-connected solar project integrated with a 10 MW/20 MWh battery energy storage system in Odisha with viability gap funding. Bids must be submitted by March 23, 2026. Bids will be opened on March 27.