NBFC lobby seeks govt incentives for EV financing to overcome bottlenecks

Quick Summary:

A lobby grouping of non-bank lenders on Tuesday said they have sought a scheme to incentivise electric vehicle finance in the country on the lines of FAME or production-linked incentive schemes.

They proposed that a dedicated fund with SIDBI or NABARD can be set up exclusively for funding NBFCs for on-lending to EVs and also pitched for subsidised interest rates through an extension of the interest subvention schemes for EV loans under Rs 10 lakh.

Apart from that, financiers grapple with depreciation fears due to evolving battery technology and unclear warranties, it said.

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Author / Journalist: Press Trust of India

Category: StartupsEconomyBusiness

Markets: India

Topics: Privacy Finance Battery Financing Information Terms Data Schemes Electric Financiers Policy

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News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-12 @ 05:34:18 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 239 words

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Sentences: 14 lines

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News ID: 26912505

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