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Indian Bank targets ₹100 crore lending under EV charging scheme in FY27

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Indian Bank targets ₹100 crore lending under EV charging scheme in FY27

Indian Bank targets ₹100 crore lending under EV charging scheme in FY27

Indian Bank has launched IND Green Charge, a dedicated financing scheme for EV charging infrastructure, and is targeting ₹100 crore of lending in the current fiscal year. The bank sees the segment as commercially viable and is pitching it as both a green finance initiative and an MSME opportunity, with a larger ₹250 crore target planned for next year.

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Indian Bank is sharpening its bet on electric mobility with a lending push that goes beyond conventional corporate credit and into the infrastructure that makes EV adoption workable. The public sector lender has drawn up a dedicated financing programme for charging stations and is aiming to build a ₹100 crore loan book in the current fiscal year, with a larger target lined up for the next year.

The bank’s new scheme, IND Green Charge, is designed for public, captive and fleet charging stations, and can be used under standalone as well as franchise models. Loans of up to ₹10 crore will be available for a maximum tenure of eight years, according to Binod Kumar , managing director and chief executive officer of Indian Bank, who spoke to PTI.

Kumar said the lender has set a ₹100 crore target for the remaining five months of the current financial year and is planning to take that to ₹250 crore in the next financial year.


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