Categories: Business

Niti Aayog, World Bank ready electric vehicles financing push

NITI (National Institution for Transforming India) Aayog and the World Bank (WB) are working together to facilitate a program for faster and easier financing of electric vehicles (EVs). NITI Aayog and World Bank are setting up a $300-million ‘first loss risk sharing instrument’, with the State Bank of India (SBI) as its program manager. The current rate of interest for electric two-wheelers & electric 3 Wheelers, which is in the range of 20-25 per cent is expected to be reduced to 10-12 per cent.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Important takeaways for all competitive exams:

World Bank Founded: July 1944;
World Bank Headquarters: Washington DC, USA;
World Bank President: David R. Malpass.

Find More Business News Her

Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.