Indian Bank MD and CEO Binod Kumar.
\n\nIndian Bank is stepping up its push to finance India's electric vehicle (EV) infrastructure, targeting Rs 100 crore in lending under the EV charging scheme in FY27, Managing Director and CEO Binod Kumar said. The initiative is aimed at supporting the expansion of EV charging infrastructure across the country, as the government and financial institutions look to accelerate the adoption of electric mobility and address gaps in charging networks.
\n\nThe bank has launched 'IND Green Charge', a financing scheme for public, captive and fleet charging stations under both standalone and franchise models.
\n\nThe bank will offer loans of up to Rs 10 crore for a maximum tenure of 8 years, Indian Bank MD and CEO Binod Kumar told PTI.
\n\n"We have set lending targets of Rs 100 crore for the remaining five months of the ongoing financial year and Rs 250 crore for the coming financial year under this scheme," he said.
\n\n"We have carried out detailed analysis of various projects across AC, DC, and high-capacity DC charging, including stress testing under different utilisation scenarios, and found that funding under the scheme is commercially viable," he said.
\n\nThe launch of IND Green Charge…
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