Indian Bank launches EV charging scheme targeting ₹100 crore lending

Indian Bank has set an ambitious lending target of ₹100 crore for the remainder of fiscal year 2026-27 under its newly launched 'IND Green Charge' scheme, which provides financing for public, captive, and fleet EV charging stations operating under both standalone and franchise models.

The scheme offers loans of up to ₹10 crore with a maximum repayment tenure of eight years, according to Binod Kumar, Managing Director and Chief Executive Officer of the bank. The lender has also projected a lending target of ₹250 crore for the subsequent financial year, signaling strong confidence in the emerging sector.

'IND Green Charge' is designed to foster entrepreneurship among micro, small, and medium enterprises (MSMEs) while simultaneously addressing India's shift toward sustainable mobility and job creation. The initiative aligns with rising consumer adoption of electric vehicles, which have witnessed robust growth in recent years as the country prioritizes environmental sustainability and reduced emissions.

The move positions Indian Bank to capture opportunities in India's expanding green energy infrastructure space at a critical juncture when EV adoption is accelerating across the nation. The financing scheme underscores the bank's commitment to supporting the government's clean mobility objectives while diversifying its lending portfolio into high-growth segments.