Home / Industry / Auto / Over Rs 300 crore FAME-II subsidy stuck on Aadhaar card, RC mismatch

Over Rs 300 crore FAME-II subsidy stuck on Aadhaar card, RC mismatch

Auto companies, especially makers of electric two-wheelers, say that in such cases the government has been withholding the subsidy for months, without offering any resolution on the issue

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3 min read Last Updated : Nov 16 2023 | 9:48 AM IST

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Over Rs 300 crore of FAME 2 subsidy, which has to be disbursed to auto companies, especially those manufacturing electric two-wheelers, is stuck because of a mismatch between the vehicle buyers’ name as per their Aadhaar card and that in the registration certificate (RC), according to auto players.

The two documents have to be submitted along with the invoice by the manufacturer to the government and the Industrial Finance Corporation of India (IFCI) to claim the subsidy. IFCI administers FAME 2 on behalf of the government.

The issue is two-fold. In states like Maharashtra, a person’s father's name is often

Topics : FAME-II Auto industry India auto MNCs Electric vehicles in India IFCI

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