Indian Bank is stepping up its focus on electric mobility financing. The public sector lender has set a Rs 100 crore lending target under its new EV scheme for FY27.
The initiative aims to support the development of electric vehicle (EV) charging infrastructure across India. It also seeks to tap emerging business opportunities in the country's growing green mobility sector.
The bank has launched a dedicated financing product called 'IND Green Charge'. It will provide loans for public, captive and fleet charging stations under standalone and franchise models. Indian Bank Managing Director and CEO Binod Kumar told PTI that the scheme would offer loans of up to Rs 10 crore. The maximum repayment tenure will be eight years.
Kumar said the bank has also set a lending target of Rs 250 crore for the next financial year. This reflects its plans to expand financing for charging infrastructure as demand for electric mobility grows.
Key Highlights
- Rs 100 crore lending target under the EV scheme for FY27.
- Loans of up to Rs 10 crore with a maximum tenure of eight years.
- Rs 250 crore lending target for the next financial year.
IND Green Charge to Support EV Charging Infrastructure
The IND Green Charge initiative is designed to encourage entrepreneurship among micro, small and medium enterprises (MSMEs). It also aims to generate employment and support India's transition towards sustainable mobility.
The scheme covers different charging infrastructure models, allowing businesses to explore opportunities in public, captive and fleet charging facilities. Its standalone and franchise options are intended to provide flexibility to entrepreneurs and small businesses entering the segment.
The bank will also consider viable proposals from smaller cities and semi-urban areas. However, approvals will depend on factors such as local demand, location suitability, projected utilization and repayment capacity.
The financing initiative comes as India's electric mobility market continues to expand. According to reports, EV sales increased 29.7% to 26.59 lakh units in FY26. Meanwhile, the country's EV charging-station market is projected to grow from Rs 6,139 crore in 2025 to Rs 21,940 crore by 2030.
This growth is creating demand for supporting infrastructure, including charging stations that can serve individual EV owners and commercial vehicle operators.
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Indian Bank Sees Commercial Potential in Green Financing
Indian Bank considers charging infrastructure a commercially viable lending opportunity as well as a green finance initiative. The lender has assessed projects involving AC, DC and high-capacity DC charging systems.
Kumar said the bank had conducted detailed project analysis and stress testing under different utilization scenarios. Based on this assessment, it found financing under the EV scheme commercially viable.
Through IND Green Charge, the bank aims to strengthen its lending presence in the emerging electric mobility ecosystem. The initiative also aligns with its efforts to support sustainable business growth and contribute to carbon emission reduction.
By extending financing to charging infrastructure projects, Indian Bank aims to support businesses looking to enter this growing segment. Its focus on smaller cities and semi-urban markets could also help entrepreneurs explore opportunities beyond major urban centers.
The bank's lending targets of Rs 100 crore for FY27 and Rs 250 crore for the following financial year indicate its plans to expand its presence in green financing.
