New Delhi: Including electric vehicles in the Bank of India Bank of India (PSL) reserve guidelines (PSL) can supplement the $ 300 million facility and encourage the financial sector to mobilize the required capital, Niti Aayog recommendations.
“Inclusion for retail loans to EVS has the potential to increase investor confidence by providing market signals ongoing government commitments to this sector,” according to the Indian Aayog-RMI Niti report launched on Friday.
“It can also ensure a quick and fair transition by providing a mandate for financial institutions to direct credit to the segment and use cases where credit shortages remain even though there is an economy,” said the report.
To operationalize the concept including EVS in priority sector loans, central government policy makers can relate to the RBI to design and issue the necessary guidelines.
Financial institutions and EV ecosystems can contribute by describing how PSL inclusion can affect their growth and investment plans, the report said.
It is said that the cumulative investment in the transition of Indian electric vehicles (EV) can be equal to RS19.
7 lakh crore ($ 266 billion) between 2020 and 2030.