Indian Bank
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Indian Bank Targets Rs 100 Crore in EV Charging Loans This Year and Rs 250 Crore Next Year
Indian Bank has launched IND Green Charge, a financing scheme for public, captive and fleet EV charging stations under standalone and franchise models, according to managing director and CEO Binod Kumar, who spoke to PTI. The bank will offer loans of up to Rs 10 crore over a maximum tenure of 8 years, with lending targets of Rs 100 crore for the remaining five months of the current financial year and Rs 250 crore for FY27. Kumar said the bank's analysis across AC, DC and high-capacity DC charging, including stress testing under different utilisation scenarios, found the funding commercially viable.
Why it matters
Charge point operators and fleet operators seeking debt for standalone or franchise sites now have a dedicated lender option with defined ticket sizes and tenures. Proposals in smaller cities and semi-urban areas will be assessed on local demand, location, projected utilisation and repayment capacity, so developers should prepare utilisation evidence for those sites.