Axis Bank has extended a INR 1 billion (c. USD 12.1 million) loan to Everest Fleet, an independent fleet management provider, under its partnership with GuarantCo, part of the Private Infrastructure Development Group (PIDG). The loan, provided for over four years, aims to facilitate the purchase of electric vehicles (EV) by Everest Fleet for use as green taxis in India.This financial collaboration is a result of the USD 200 million INR equivalent framework guarantee agreement signed by GuarantCo and Axis Bank in May 2022. The agreement allows the mobilization of funds between USD 300 and 400 million in INR equivalent to finance the…
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