Bank of Maharashtra signs MOU to finance pink E-rickshaws for women empowerment
Pune, 03 April 2025 – Bank of Maharashtra (BoM) a premier public sector bank in the country, signed a Memorandum of Understanding (MOU) with Kinetic Green Energy and Power Solutions Ltd. to finance Pink e-rickshaws under the Maharashtra State Government’s scheme for women and girls. The agreement aims to support self-employment and boost financial independence among women enabling them to purchase e-rickshaws providing them with a sustainable source of income.
The Maharashtra Government launched the pink e-rickshaw scheme in 2024 to create employment opportunities among women and girls in the selected cities in Maharashtra state. The Commissionerate of Women & Child Development Department, Maharashtra has approached the company to provide for sale of 10,000 e-rickshaws. Bank of Maharashtra would be financing the beneficiaries to purchase of e-rickshaws.
Bank of Maharashtra remains committed to financial inclusion and women empowerment. Through such initiatives, the Bank has actively promoted self-employment, skill development and access to finance among women. This partnership aligns with the Bank’s vision for fostering economic independence among women.
