CrackitToday App

Mission 50K-EV4ECO

Kumari Sonali

Mission 50K-EV4ECO:

Small Industries Development Bank of India (SIDBI) recently announced a new scheme Mission 50K-EV4ECO to boost the electric vehicle (EV) ecosystem in the country.

  • Under this mission, SIDBI will directly provide loans to eligible small and medium enterprises (SMEs) for the purchase of EVs and developing charging infrastructure, including battery swapping.
  • It focuses on increasing the uptake of electric two-wheelers, three-wheelers and four-wheelers through direct and indirect lending support to vehicle aggregators, fleet operators and leasing companies.
  • SIDBI was established under an Act of Parliament in 1990.
  • It is the Principal Financial Institution engaged in the promotion, financing & development of the Micro, Small and Medium Enterprises (MSMEs) sector and coordination of the functions of the various institutions engaged in similar activities.
  • Electric Vehicles is defined as a vehicle that can be powered by an electric motor that draws electricity from a battery and is capable of being charged from an external source.

...Read more on our test console

...Read these too

  • Mission Arikompan

    Mission Arikompan: The forest department has initiated ‘Mission Arikomban’, an operation to capture the rogue tusker. The plan is to capture it with tranquilizer shots and later shift it to…

  • Aroma Mission

    The Aroma Mission: While observing the first National Start-up Day, Union Minister Dr. Jitendra Singh said that “Purple Revolution” is Jammu & Kashmir’s contribution to "Start-ups India", an initiative that…

  • Mission SAGAR IX

    Mission SAGAR IX: With the overarching aim of providing critical medical aid to Sri Lanka during the ongoing crisis, INS Gharial as part of Mission SAGAR IX reached Colombo. Mission…