SIDBI EV initiatives are geared up to spread across cities, towns and unserved segments. Besides metros, SIDBI's endeavour is to reach tourist clusters and pilgrimage centres like Mathura, Varanasi, Agra and other rural parts of India shortly
Witnessing the spark in the eyes of trained drivers pool starting their livelihood journey is a matter of pride. The event was joined by team Lucknow RO & team green led by Dr R K Singh, CGM, SIDBI
FinTech BizNews Service
Mumbai, January 15, 2024: Small Industries Development Bank of India (SIDBI) joins Government of Uttar Pradesh e-mobility drive at Ayodhya, Uttar Pradesh.
In order to Green Ayodhya and Empower hunar-mand (skilling the unskilled) especially women, SIDBI supported ETO Motors, launched its EV services in Ayodhya. CM Yogi Adityanath flagged off E mobility initiatives including E-autos of ETO at an event held in Ayodhya Dham. The event was joined by team Lucknow RO & team green led by Dr R K Singh, CGM. This initiative aims to ease commuting in pious city of Ayodhya with reducing pollution. Govt of UP has provided charging infra and parking station where as SIDBI assisted ETO shall manage the seamless access to EV autos to common people. Its important to mention that UBER with whom we have MoU to support its aggregators deepen e mobility shall power this initiative through its matchmaking platform. Witnessing the spark in the eyes of trained drivers pool starting their livelihood journey was a matter of pride. This move is expected to enhance environment responsiveness among lakhs of people who are expected to be in Ayodhya.
On this occasion Shri Sivasubramanian Ramann, CMD, SIDBI messaged that “The decarbonization of the transport sector is need of the hour and SIDBI launched multiple initiatives to promote electric mobility adoption in India. These are aimed at providing affordable capital to the EV ecosystem, Shell foundation supported risk sharing facilities to safeguard the EV lending and supporting the women's entrepreneurship journey in smaller towns/rural India. SIDBI endeavours to reach the last mile with affordable access to EVs. The initiative is witnessing traction from across India. The beneficiaries include enterprises active in last-mile deliveries and connectivity, renting to users, battery swapping stations, charging point operators and dedicated e mobility centric NBFCs.”
In line with Panchamrit mission, SIDBI has prioritised digitisation of credit access and greening of enterprise ecosystem through its Panch-Tatva Missions, viz. Electric Vehicles, Energy Efficiency, Solar, Nurture t Nature ( t being technology) and Waste to Environment taste. Aligned to national mission of EV30@30 SIDBI runs 50KEV4ECO for strengthening the e-mobility eco system. SIDBI has supported several models, pan India. It has attempted to reduce last mile acquisition cost by providing affordable funds to NBFCs. ETO is one of the beneficiary enterprise whose dream to deepen its presence in Mathura, Varanasi (besides being in Delhi) is getting a fillip.
ETO Motors is leading Electric Mobility as a Service (eMaaS) and Energy as a Service (EaaS) company focusing on providing environmentally friendly electric mobility & related Energy / Charging solutions. ETO Motors is endeavouring to bring positive changes in society- ecologically, socially, and sustainably. SIDBI support to ETO Motors will not only save carbon emissions but also empower women by providing them with livelihood opportunities.
It is pertinent to mention that recently SIDBI support enabled Ayodhya laddus to get GI Tag. This earns laddus international recognition as also gives value for money to artisans engaged in this value chain.
