Mufin Green, SIDBI Join Forces For EV Financing
Mufin Green Finance - India’s listed NBFC dedicated to EV financing, with support SIDBI (Small Industries Development Bank of India) accelerates the EV uptake in India by extending its financing solutions in the domain. SIDBI has already sanctioned financial assistance for the NBFC in the form of a term loan, with a maximum limit of Rs.10 crores.
As part of the partnership, Mufin Green Finance has become an authorised partner of SIDBI to promote EV financing among industry stakeholders including fleet operators, aggregators, etc. and developing MSME sector. As mandated by SIDBI, it has established points of sales in various cities to expand its reach and increase accessibility to EV financing options across regions.
On this partnership, Kapil Garg, Founder of Mufin Green Finance, said “With this accreditation, Mufin is well-positioned to offer competitive financing options to individuals and businesses venturing into the electric vehicle sector,”
In addition, the partnership signifies the availability of reliable financing options specifically tailored for EVs, encouraging its growth and making EVs more accessible to consumers. This development not only boosts investor confidence but also fosters innovation and sustainability in the sector, ultimately driving the transition towards a greener and cleaner transportation ecosystem.
Commenting on the alliance, Dr. RK Singh, CGM of SIDBI, said, “This shall benefit the industry through a two-pronged approach - increasing EV penetration as well as promoting financial inclusion for the underserved,”
