India’s leading Electric Vehicle financing non-bank financial company has recently raised $7 million green bond arranged by Symbiotics Investments to strengthen its retail Electric Vehicle portfolio for two and three-wheelers across the country.

Mumbai-based Svasti Microfinance has received $5 million through Non-Convertible Debentures from Singapore-based Impact Investment Exchange's Women's Livelihood Bond 5, the proceeds of which will go toward empowering women through income-generating activities.

Microsoft co-founder Bill Gates on Tuesday met Reserve Bank of India Governor Shaktikanta Das and discussed various issues including financial inclusion, payment systems, microfinance and digital lending among others.

By this intervention, the average income of women is expected to rise by at least 30 percent.

The implementation has enhanced India1 Payments current 11,000 ATMs with ACI’s latest technology, which has created capacity for expanding the ATM network in the coming years.

The proceeds from the bond will be dedicated exclusively to providing loans to female entrepreneurs in India.

The strategic bank x FinTech partnership aims to help merchants manage omnichannel payments and also seamlessly access financial services on an agile-tech platform.

The partnership intends to help millions of feature-phone users to make digital payments under the microfinance ecosystem.

The proceeds of this Green Bond will be used to finance electric mobility, renewable energy, and energy efficiency projects.

Through this funding, the company plans to disburse income-generating loans worth INR 5,000 crore in the next five years, resulting in an overall reduction of four million tones of carbon emission, the firm said in a statement on 3 October.