MHI hired IFCI Ltd and global consulting firm EY to streamline its FAME-II EV scheme

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The Ministry of Heavy Industries (MHI) has reportedly hired IFCI Ltd, a public sector non-banking finance company (NBFC), and global consulting firm EY to streamline its FAME-II electric vehicle (EV) scheme, which has a total budget of INR 10,000 crore.

IFCI will serve as a liaison between the government and the applicants for the FAME-II subsidy. According to people familiar with the development, it will also handle data management and calculating subsidies due. Meanwhile, EY will be in charge of auditing the books of companies that have allegedly wrongfully claimed the scheme’s benefits.

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MHI hired IFCI Ltd and global consulting firm EY to streamline its FAME-II EV scheme

The Ministry of Heavy Industries (MHI) has reportedly hired IFCI Ltd, a public sector non-banking finance company (NBFC), and global consulting firm EY to streamline its FAME-II electric vehicle (EV) scheme, which has a total budget of INR 10,000 crore.

IFCI will serve as a liaison between the government and the applicants for the FAME-II subsidy. According to people familiar with the development, it will also handle data management and calculating subsidies due. Meanwhile, EY will be in charge of auditing the books of companies that have allegedly wrongfully claimed the scheme’s benefits.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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