Indian Bank targets ₹100 crore lending under EV charging scheme in FY27: MD
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Indian Bank set a ₹100 crore lending target for its new EV charging scheme this fiscal year.
- ✓MD Binod Kumar said, "We have set lending targets of ₹100 crore for the remaining five months." The bank wants to support green mobility by funding charging stations for many small businesses.
Story at a Glance
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- MARKET
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- Business Standard
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- 3 Minute(s)
- Market Focus
- India Economy
Indian Bank has set a lending target of Rs 100 crore for the current fiscal year under its dedicated financing scheme for electric vehicle (EV) charging infrastructure, as the public sector lender seeks to tap business opportunities in the fast-growing green mobility segment.
The bank has launched 'IND Green Charge', a financing scheme for public, captive and fleet charging stations under both standalone and franchise models.
The 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.
"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.
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