The and Niti Ayog are ready to financially push the EVs in India.
Highlights
The World Bank (WB) and the NITI Aayog (National Institution for Transforming India) are collaborating to support a scheme for faster and easier financing of electric vehicles (EVs).
The State Bank Of India (SBI) will serve as the program manager for a $300 million ‘first loss risk sharing instrument’ set up by NITI Aayog and the World Bank.
The present rate of interest on electric two-wheelers and electric three-wheelers, which is at 20-25 percent, is likely to drop to 10-12 percent.