Indian Bank Launches IND Green Charge EV Charging Loan Scheme With ₹100 Crore FY27 Target

Indian Bank has launched IND Green Charge, a financing scheme for electric vehicle charging infrastructure, and set a ₹100 crore lending target for the remaining five months of the current financial year. The public sector lender will offer loans of up to ₹10 crore for a maximum tenure of 8 years, Managing Director and Chief Executive Officer Binod Kumar told Business Standard.

How Indian Bank's IND Green Charge Works

Indian Bank designed the scheme for public, captive and fleet charging stations, covering both standalone and franchise models. The bank will consider proposals in smaller cities and semi-urban areas based on local demand, location suitability, projected utilisation and repayment capacity.

Kumar said the scheme aims to promote entrepreneurship among micro, small and medium enterprises, generate employment and support India's transition towards sustainable mobility. "We have set lending targets of Rs 100 crore for the remaining five months of the ongoing financial year and Rs 250 crore for the coming financial year under this scheme," he said.

Kumar said the bank analysed projects across AC, DC and high-capacity DC charging, including stress testing under different utilisation scenarios, and found funding under the scheme commercially viable. "We have carried out detailed analysis of various projects across AC, DC, and high-capacity DC charging, including stress testing under different utilisation scenarios, and found that funding under the scheme is commercially viable," he said.

According to reports cited by Business Standard, EV sales grew 29.7 per cent to 26.59 lakh units in 2025-26, while the Indian EV charging-station market is projected to expand from ₹6,139 crore in 2025 to ₹21,940 crore by 2030.

Indian Bank's Branch Network and Balance Sheet

Indian Bank serves more than 137 million customers through 6,002 branches in India and Sri Lanka, according to akta.pro company records. The same records list total business of ₹15.28 lakh crore for the quarter ended June 2026, Q1 FY27 net profit of ₹3,273 crore, up 10 per cent year on year, and Q1 FY27 net interest income of ₹7,435 crore, up 16.9 per cent year on year.

Earlier Indian Bank Moves

On October 22, 2026, Business Standard reported that Indian Bank raised interest rates on its special term deposit schemes by 15 basis points each, effective October 23, taking the 555-day 'Ind Grow' scheme rate to 6.80% from 6.65% and the 777-day 'Ind Prosper' scheme to 6.75% from 6.60%.

On October 20, 2026, Financial Express reported that Kumar said a 25-basis-point RBI repo rate hike is unlikely to significantly affect asset quality, though some retail borrowers may face pressure. On October 16, 2026, CNBC TV18 reported that Kumar guided for 14-15% loan growth, moderating from 16.6% in Q2FY27, and expected net interest margins to expand by 8-9 basis points from two rate hikes.

Indian Bank's December Borrowing Plan

On October 20, 2026, EIN Presswire reported that Indian Bank plans to raise another USD 500 million through external commercial borrowings by December-end, including a USD 150 million tranche shortly, bringing its total ECB raising to USD 1 billion.