When we talk about India’s shift to electric vehicles and solar energy, the spotlight often falls on big banks or urban fintechs. But on the ground, it’s often the smaller, regional NBFCs that are making a real difference—especially in states like Rajasthan.
These lenders understand local needs, have deep roots in their communities, and are stepping up to fund electric vehicles, solar projects, and green businesses in places that are usually overlooked. These regional lenders are not just providing capital; they are building trust, enabling livelihood, and powering a greener tomorrow. Here are four Rajasthan-based NBFCs leading the charge:
One of the key players in this space is Namdev Finvest, a Jaipur-based NBFC with a strong focus on MSME lending. Over the last few years, Namdev has been steadily expanding into green finance by offering electric vehicle loans tailored for small business owners, self-employed individuals, and women entrepreneurs. From e-rickshaws to electric two-wheelers, the company is helping low-income borrowers shift to clean mobility without the burden of complex financial products. In addition, Namdev is also working towards integrating solar financing into its offerings—enabling rural enterprises to adopt renewable energy as part of their day-to-day operations.
Another homegrown success story is AU Small Finance Bank, which originally began its journey as an NBFC in Jaipur under the name AU Financiers. While it has since evolved into a full-fledged small finance bank, AU has retained its regional focus and continues to support energy-efficient and green lending initiatives. With a broad reach across Rajasthan and beyond, AU is uniquely positioned to promote electric mobility and solar solutions among semi-urban and rural borrowers. The bank’s continued push for inclusive financial products makes it a critical enabler in the region’s sustainability narrative.
Ess Kay Fincorp, also headquartered in Jaipur, has long been known for financing commercial vehicles and small businesses across Northern and Western India. Now, the company is expanding into the electric vehicle segment, financing e-loaders, electric autos, and other clean transport options. This move aligns well with the government’s push for green logistics and last-mile delivery. By helping small transport operators make the switch to EVs, Ess Kay is actively supporting a cleaner and more cost-efficient ecosystem—especially in cities and towns that fall outside metro corridors.
Another name to watch is Rajasthan Asset Management Company (RAMC). Although still emerging in the public domain, RAMC is beginning to direct capital into sustainable energy ventures. Through partnerships with NBFCs and investment in solar-linked infrastructure, RAMC is looking to strengthen the ecosystem around renewable energy in Rajasthan. Their interest in clean energy investment signals a growing appetite among regional players to participate in India’s broader green economy.
Together, these Rajasthan-based financial institutions are doing more than just handing out loans. They’re helping people build better lives—whether it’s a small shopkeeper switching to an electric scooter or a rural entrepreneur setting up solar panels to run their business. By making green technology accessible and affordable, these NBFCs are quietly shaping a more sustainable future. And as India’s push toward clean energy picks up pace, their role will be key in making sure the shift isn’t limited to cities or large corporations, but reaches every corner of the country.
Discussion about this post