New Delhi: Including electric vehicles reserve Bank of India(RBI) priority sector lending ,PSL) the guidelines may complement the $300 million facility and encourage the financial sector to raise the necessary capital, a Niti Aayog report is recommended.
“Inclusion for Retail” Borrow EVs have the potential to enhance investor confidence by providing a market indication of the ongoing government’s commitment to the sector,” according to a NITI Aayog-RMI India report unveiled on Friday. “This can ensure a quick and equitable transition for financial institutions to direct lending to the segment and use cases where credit crunch persists despite compelling economics,” the report said.
In order to implement the concept of induction of electric vehicles in priority sector lending, policy makers of the Central Government may liaise with the RBI for formulation and issuance of necessary guidelines. Financial institutions and the EV ecosystem can contribute by underlining how PSL inclusion can impact their growth and investment plans, the report said. It said the cumulative investment in India’s electric vehicle (EV) transition could be as large as Rs 19. 7 lakh crore ($266 billion) between 2020 and 2030.
“Inclusion for Retail” Borrow EVs have the potential to enhance investor confidence by providing a market indication of the ongoing government’s commitment to the sector,” according to a NITI Aayog-RMI India report unveiled on Friday. “This can ensure a quick and equitable transition for financial institutions to direct lending to the segment and use cases where credit crunch persists despite compelling economics,” the report said.
In order to implement the concept of induction of electric vehicles in priority sector lending, policy makers of the Central Government may liaise with the RBI for formulation and issuance of necessary guidelines. Financial institutions and the EV ecosystem can contribute by underlining how PSL inclusion can impact their growth and investment plans, the report said. It said the cumulative investment in India’s electric vehicle (EV) transition could be as large as Rs 19. 7 lakh crore ($266 billion) between 2020 and 2030.
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