OFFICIAL DOCUMENTS Supplemental Letter No. 2 STATE BANK OF INDIA June 30, 2016 International Bank for Reconstruction and Development 1818 H Street, N.W. Washington, D.C. 20433 United States of America INDIA: IBRD Loan No. 8611-IN; CTF Loan No. TFOA2401; CTF Grant No. TF0A2023 (Grid-Connected Rooftop Solar Program) Performance Monitoring Indicators Dear Sirs and Mesdames: We refer to Section III.A of Schedule 2 to the IBRD Loan Agreement of even date between the STATE BANK OF INDIA and the International Bank for Reconstruction and Development (Bank). Unless otherwise agreed with the Bank, we shall monitor and evaluate implementation of the Program in accordance with the Performance Monitoring Indicators attached to this letter. Very truly yours, STATE BANK OF INDIA By Authorized Representative Attachment - Performance Monitoring Indicators Program Monitoring Indicators (Agreed Key Performance Indicators) India: Grid-Connected Solar Rooftop Program Program Development Objective: The PDO is to increase investment in Grid-connected Rooftop Solar PV (GRPV) and strengthen the capacity of relevant institutions. PDO Level Unit of Baseline Target Values Frequency Data Responsibility Results Measure Yr I Yr2 Yr3 Yr4 Yr5 Source/Methodology for Data Indicators U Collection PDO Indicator O O MW 0 0 50 100 150 250 Annual Report commissioned SBI 1: Capacity of by SBI which will GRPV connected measure on GRPV to the grid connections based on a representative sample PDO Indicator ElE 2: thousand 0 0 100 400 950 1650 Annual Report commissioned SBI Reduction of tons by SBI which will carbon emissions use an internationally recognized methodology to estimate GHG emission reductions PDO Indicator: El El Intermediate Results Area 1: Improved institutional capacity for GRPV Intermediate El x Results Indicator 1: 0 Done Annual SBI SBI Launch of Rooftop Solar PV program at SBI and development of internal procedures for the identification, risk assessment, appraisal and approval of rooftop solar projects Intermediate Results Indicator X 2: 0 Contract Phase I of Phase 2 of Implementation signed TA TA Annual SBI SBI of TA and with completed completed capacity building consultant program for discoms. SNAs, SERCs etc. Intermediate E Results Indicator: X Phase 2 of Phase 2 of SBl's 0 NA NA NA NA SBI's Year 5 or SBI SBI Rooftop Solar PV program upon program launched designed completion allocated of phase I and announced Intermediate Results Area 2: Market development of rooftop solar PV Intermediate O1 x Results Indicator ($ 0 100 250 400 600 625 Annual SBI SBI : Amount rooftop million) solar loans approved by SBI Intermediate O O Results Indicator 0 30 75 120 180 188 Annual SBI SBI : Amount of million) additional financing mobilized by SBI Intermediate Results Indicator MW 0 75 150 300 450 600 Annual SBI SBI : Capacity (MW) I of GRPV orders placed with SBI borrowers orders Intermediate Results Indicator Intermediate Results Area 3: Expanding GRPV generation Intermediate Results Indicator: X MW 0 100 200 350 500 Annual Independent SBI Capacity of Verification Agent rooftop solar installed and commissioned under the program (MW)