Current Context: On 14 October 2026, Astranova Mobility announced that its lending subsidiary, NovaFusion Capital, had received approval from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Company (NBFC). The approval enables the company to expand into direct lending, supporting the adoption of commercial electric vehicles and other climate-positive assets.
- Business expansion: Direct lending will complement Astranova Mobility’s existing EV leasing and asset-management services.
- Growth target: The company aims to achieve ₹5,000 crore in Assets Under Management (AUM) within five years. This is a future target, not its current portfolio size.
- Initial deployment: The company stated that funding for an initial ₹200 crore deployment was already available.
- Target borrowers: Financing will focus on commercial EV users, including gig workers, drivers and fleet operators.
- Credit assessment: Its lending approach considers vehicle utilisation, telematics data and income-generation capacity, alongside the borrower’s credit profile.
Question:
Q1. NovaFusion Capital, which recently received RBI approval to operate as an NBFC focused on commercial electric-vehicle financing, is a subsidiary of which company?a) Ather Energy
b) Euler Motors
c) Astranova Mobility
d) Tata Motors
e) Ola Electric
Answer: c) NovaFusion Capital is the lending subsidiary of Astranova Mobility. Its RBI approval was announced on 14 October 2026. The NBFC will provide direct financing for commercial electric vehicles and other climate-positive assets, with a target of building ₹5,000 crore in AUM over five years.
