Government Introduces Low Interest Electric Vehicle Loans for Women Self Help Groups
A new government backed loan scheme through Stree Nidhi will help women purchase electric autos and bikes to generate income promote financial independence and encourage sustainable transportation across the state.
The government has unveiled a new initiative to strengthen women’s financial independence by offering affordable loans for the purchase of electric vehicles. Through the Stree Nidhi programme, eligible members of Women Self Help Groups will receive financial assistance to buy electric autos and electric bikes, creating new opportunities for self employment while promoting environmentally friendly transport.
Officials said the scheme is designed to help women establish stable sources of income without depending on expensive private loans. Beneficiaries can use electric autos for passenger transport, goods delivery and other commercial activities, while electric bikes can support delivery services, field operations, small businesses and various service based occupations.
Under the programme, women can avail loans ranging from Rs 2.74 lakh for an electric passenger auto to Rs 3.13 lakh for an electric trolley auto. These loans will be repaid over 60 months with an annual interest rate of 11 percent. An electric passenger auto can accommodate up to five passengers and can travel approximately 100 kilometres on around two hours of charging under normal operating conditions.
The scheme also provides loans of up to Rs 1 lakh for purchasing electric two wheelers. Beneficiaries will be able to repay these loans through convenient instalments over a period of 48 months, making vehicle ownership more affordable for women looking to start or expand their livelihoods.
The government expects the initiative to create long term employment opportunities for women while also benefiting their families through increased household income. The programme is expected to generate economic opportunities in both rural and urban areas by supporting small businesses and independent transport services.
Apart from promoting entrepreneurship, the scheme also aligns with the government’s clean mobility goals. Officials believe wider adoption of electric vehicles will help reduce carbon emissions, lower fuel expenses and contribute to a cleaner environment while improving the economic well being of women entrepreneurs.
The process of sanctioning loans for eligible applicants is expected to begin soon. Authorities are confident that the initiative will encourage more women to embrace electric mobility and achieve sustainable financial growth through self employment.
