SIDBI to fund 50,000 EVs for MSMEs

07 Jun 2023 CW Team

SIDBI has tied up with the Niti Aayog, World Bank, Korea-World Bank partnership facility and Korean economic development cooperation fund to finance electric vehicles for small and medium industrial units. The financing will be done under a new project called Evolve, which is electric vehicle operations and lending for a vibrant ecosystem, under which Sidbi will give access to affordable commercial financing for EVs, the national bank said in a statement on Monday.

While Niti Aayog will give technical support to Sidbi, financial assistance will come from the World Bank, Korea-World Bank partnership facility and the Korean economic development cooperation fund, Sidbi said.

The bank has already launched two financing schemes -- direct lending to MSMEs and a scheme for lending to N, to help them offer lower-cost financing.

The new scheme seeks to finance 50,000 EVs, S Ramann, chairman and managing director of Sidbi, said.

Kim Kisang, the chief representative from the Korean economic development cooperation fund, said his government will extend support for the Sidbi programme to address the key barriers to the adoption of EVs as well as knowledge sharing between both countries.

Gerald Ollivier of the World Bank said Evolve is designed to support around 1.5 million EVs and build the ecosystem in the mobility segment.

Real Estate

05 May 2026

Dubai Real Estate Sales Reach AED48 Billion

Dubai’s real estate market recorded 13,977 sales transactions worth AED48 billion in April 2026, reflecting continued resilience across residential and commercial segments.According to a market update by fäm Properties, sales volume rose 3.5 per cent month-on-month compared to March, while total sales value increased by 10.7 per cent. The commercial sector, including offices and shops, recorded the strongest growth, with 561 transactions valued at AED4 billion, up 33.9 per cent year-on-year and 36.2 per cent month-on-month.Apartment sales rose 6.5 per cent month-on-month to 11,377 transacti..

Casagrand Launches 35-Acre Hyderabad Project

Casagrand has launched Casagrand Vybe, its largest residential project in Hyderabad, spread across 35 acres in Rajendra Nagar. The launch marks the company’s fifth residential rollout in 2026 and strengthens its expansion momentum in the city.As part of its Hyderabad growth strategy, Casagrand is adding 3.98 million sq ft of residential space to its portfolio. Since entering the Hyderabad residential market in 2023, the company has scaled its presence with projects across key micro-markets. In 2025, it launched four projects — Casagrand Evon, Casagrand Windsor Court, Casagrand Belair and C..

Bentley Event Spotlights AI Infrastructure

Bentley Systems recently hosted Illuminate Mumbai 2026, bringing together infrastructure leaders, policymakers, technology experts and academia to discuss how AI-driven engineering and digital twins can accelerate India’s journey towards Viksit Bharat 2047.The event focused on scaling intelligent and connected infrastructure ecosystems beyond digital adoption. Discussions covered the use of infrastructure AI, open data environments and digital twin technologies to improve project delivery, sustainability and long-term asset performance across key sectors.Kamalakannan Thiruvadi, Regional Exec..