NBFC expands its reach for Green Financing across India, empowering underserved communities with sustainable financing solutions
FinTech BizNews Service
Mumbai, 8 October, 2024: Usha Financial Services Limited, a leading Non-Banking Financial Company (NBFC), continues 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 ₹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.”
With an average loan ticket size of ₹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.
