India-UK partnership focuses on industry-led research (See 'Corp Brief') Centre urges States to ensure Display of Healthcare Service Rates at Clinical Establishments (See 'Corp Brief') Chouhan calls for Coordinated Action to boost Farm Incomes (See 'Corp Brief') Companies Act - Subsisting judgment of a Court is required to be complied with by concerned Ministry/authorities & intention to file review petition per se does not constitute grounds for withholding compliance with existing judgment: HC (See 'Legal Desk') Union Minister calls for outcome-oriented implementation of PMDDKY (See 'Corp Brief') BRICS Theatre Festival 2026 commences at National School of Drama (See 'Corp Brief') Reddy launches commercialisation catalogue of technologies (See 'Corp Brief') PMLA - Allegations of contravention of the UAPA, by itself, cannot justify indefinite pre-trial detention in separate PMLA proceedings carrying maximum sentence of seven years: HC (See 'Legal Desk') MeitY Pavilion showcases India's digital innovation at India Mobile Congress 2026 (See 'Corp Brief') DRI seizes around 5.8 kg foreign-origin gold worth Rs. 9 crores (See 'Corp Brief') Keylong to house ICMR's first dedicated centre for high-altitude medicine (See 'Corp Brief') SARFAESI - Demand notice issued under Rule 7(1) of IBC Rules, 2019 does not, per se, commence insolvency proceedings against personal guarantors or trigger interim moratorium per Section 96 of IBC 2016: HC (See 'Legal Desk') Digital Health Resources crucial to Building India's Research Mindset: Health Secy (See 'Corp Brief') 53 Tele-MANAS Cells operational across all 36 States (See 'Corp Brief') CSR is not merely a statutory obligation but as strategic instrument for India's growth: Former Cab Secry (See 'Corp Brief') FEMA - Intimation to Customs does not, by itself, constitute proof of import of software, particularly where the software was claimed to have been received through a data communication channel: Tribunal (See 'Legal Desk') India's maritime future will be written by young people: Sonowal (See 'Corp Brief') IPR - If defendant adopts mark that is minor phonetic and visual manipulation of well-known registered trademark, coupled with identical colour scheme, get-up, and trade dress, strong prima facie case of trademark & copyright infringement is made out: HC (See 'Legal Desk') ICAR-IIAB organises Pre-Rabi Kisan Goshti for 1,500 Farmers (See 'Corp Brief') IBC - Per Section 9 of IBC, where operational debt meets statutory threshold & no pre-existing dispute exists, then application for initiation of CIRP is maintainable: NCLT (See 'Legal Desk') India targets 10% of Global 6G Patents and Standards: MoS (See 'Corp Brief') SEBI - Allegation of violations of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations is serious & cannot be sustained on mere general allegations, individual perceptions, or violations of investment advisory regulations alone: SAT (See 'Legal Desk') India highlights Energy Security at 20th EAS Energy Ministers' Meeting (See 'Corp Brief') IPR - Visual deceptive similarity, phonetic identity, likelihood of public confusion, brand dilution, and misrepresentation of association are sufficient to justify interim injunctive relief: HC (See 'Legal Desk') Special Khadi and Village Industries Exhibition inaugurated at Delhi Haat (See 'Corp Brief') SARFAESI Act, 2002 - Writ remedy under Article 226 cannot be used to bypass or circumvent this designated statutory remedy & specialized forum, which is uniquely equipped to assess the intricacies of such proceedings: HC (See 'Legal Desk') An unsuccessful 'success fee' litigation (See CORP EINSICHT)

Print

NITI Aayog, Rocky Mountain release 'Banking on EVs in India' report

Published: Jan 21, 2022

By TIOLCorplaws News Service

NEW DELHI, JAN 21, 2022: NITI Aayog, Rocky Mountain Institute (RMI), and RMI India today released a report, titled 'Banking on Electric Vehicles in India', which outlines the importance of priority-sector recognition for retail lending in the electric mobility ecosystem. The report provides considerations and recommendations to inform the inclusion of EVs in the Reserve Bank of India's (RBI's) priority-sector lending (PSL) guidelines.

Banks and non-banking financial companies (NBFCs) in India have the potential to achieve an electric vehicle (EV) financing market size of Rs 40,000 crore (USD 5 billion) by 2025 and Rs 3.7 lakh crore (USD 50 billion) by 2030. However, retail finance for EVs has been slow to pick up.

"Financial institutions have an important role to play in accelerating the adoption of EVs in India and supporting the decarbonisation of road transport," said Amitabh Kant, CEO, NITI Aayog. "RBI's PSL mandate has a proven track record of improving the supply of formal credit towards areas of national priority. It can provide a strong regulatory incentive for banks and NBFCs to scale their financing to EVs."

Priority-sector lending aims to expand financial access and support employment opportunities in India. In order to meet these goals, the report highlights that the RBI may consider various EV segments and use cases based on five parameters: socio-economic potential, livelihood generation potential, scalability, techno-economic viability, and stakeholder acceptability.

"Buyers are unable to access low-interest rates and long loan tenures for EVs as banks are concerned about resale value and product quality. Priority-sector lending can encourage banks to fast-track India's transition to EVs and help achieve our 2070 climate goals," said Clay Stranger, Managing Director, RMI.

The report indicates that electric two-wheelers, three-wheelers, and commercial four-wheelers are early segments to prioritise under PSL. Moving forward, the engagement of other ministries and industry stakeholders will be important to ensuring the guidelines designed can effectively enhance EV investment in India.

To maximise the impact of the inclusion of EVs, the report also recommends a clear sub-target and penalty mechanism for priority sector lending to renewable energy and EVs. Furthermore, it suggests recognition of EVs as an infrastructure sub-sector by the Ministry of Finance and the incorporation of EVs as a separate reporting category under the RBI. Multiprong solutions such as these are needed not only for EV penetration and businesses, but also for the financial sector and India's 2070 net-zero target.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.