SBI unveiled India’s First ‘Green Car Loan

SBI (State Bank of India) has unveiled India’s first ‘Green Car Loan’ (Electric Vehicle) to urge customers to buy electric vehicles. The new scheme ‘Green Car Loan’ will offer the loan at 20 basis points lower than the interest rate on the existing car loan schemes. SBI has already notified 100% migration to Electric Vehicles by 2030 in order to reduce carbon footprints, thus being in line with the government’s pledge of ensuring 30% EVs on road by 2030.