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Usha Financial Services Gives INR 50 Crore Through Green Financing Loans to EV Owners

With an average loan ticket size of INR 1.5 lakh, the company is helping underserved communities’ transition to eco-friendly transport solutions like E-Rickshaws.

October 08, 2024. By Aishwarya

Usha Financial Services has continued its commitment to sustainability by financing over 3,300 electric vehicle (EV) owners through its Green Financing Loans.

This milestone demonstrates the company’s ongoing support for India’s rapidly growing EV market.

Operating in 84 districts across key states like Assam, Bihar, Delhi, Jharkhand, Madhya Pradesh, Odisha, Punjab, Rajasthan, Uttar Pradesh, and Uttarakhand, Usha Financial Services has disbursed INR 50 crores in Green Financing so far. The NBFC's strong network allows it to bridge financial gaps, driving financial inclusion and environmental sustainability.

“We are immensely proud to have empowered over 3,300 EV owners on their journey towards a cleaner and greener tomorrow. At Usha Financial Services Limited, we are not merely providing financial assistance; we are fostering a sustainable mindset that promotes a more environmentally conscious society,” said Geeta Goswami, CEO of Usha Financial Services Limited.

“Our Green Financing Loans are not solely about enabling EV ownership; they are about catalyzing a positive shift towards a more sustainable future for all,” Goswami added.

With an average loan ticket size of INR 1.5 lakh, the company is helping underserved communities’ transition to eco-friendly transport solutions like E-Rickshaws. These vehicles, popular for their zero emissions and low operational costs, also contribute to job creation.

Looking ahead, Usha Financial Services aims to double its support to EV owners through Green Financing Loans by March 2025, continuing to lead the way in driving positive change in India’s EV sector.

Usha Financial Services Ltd. (UFSL) is a Delhi-based RBI-licensed and listed Non-Banking Financial Company (NBFC) that offers a wide range of financial products and services to individuals and businesses.
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