Adani Enterp. 1887.50↓-32.80(-1.71%)
Adani Ports 685.10↑1.20(0.18%)
Apollo Hospitals 4625.10↑22.60(0.49%)
Asian Paints 3019.45↑6.50(0.22%)
Axis Bank 878.45↑13.15(1.52%)
B P C L 367.70↑2.25(0.62%)
Bajaj Auto 4549.25↑86.15(1.93%)
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Bajaj Finserv 1404.80↑45.55(3.35%)
Bharti Airtel 793.75↑6.45(0.82%)
Britannia Inds. 4598.40↓-27.60(-0.60%)
Cipla 933.30↑8.50(0.92%)
Coal India 232.85↓-4.55(-1.92%)
Divi's Lab. 3286.30↓-4.50(-0.14%)
Dr Reddy's Labs 4907.10↓-35.40(-0.72%)
Eicher Motors 3392.90↑37.80(1.13%)
Grasim Inds 1778.35↑25.85(1.48%)
H D F C 2735.60↑33.30(1.23%)
HCL Technologies 1075.75↑20.20(1.91%)
HDFC Bank 1644.45↑18.80(1.16%)
HDFC Life Insur. 549.55↑9.85(1.83%)
Hero Motocorp 2576.35↑29.10(1.14%)
Hind. Unilever 2516.30↑15.55(0.62%)
Hindalco Inds. 445.05↑10.80(2.49%)
ICICI Bank 937.90↑10.95(1.18%)
IndusInd Bank 1126.35↑53.05(4.94%)
Infosys 1265.60↑6.50(0.52%)
ITC 431.45↑2.70(0.63%)
JSW Steel 732.80↓-0.55(-0.07%)
Kotak Mah. Bank 1958.85↑30.15(1.56%)
Larsen & Toubro 2365.40↓-12.10(-0.51%)
M & M 1231.80↑20.60(1.70%)
Maruti Suzuki 9076.25↑127.60(1.43%)
Nestle India 21983.25↓-36.60(-0.17%)
NTPC 177.05↑2.80(1.61%)
O N G C 165.00↑4.70(2.93%)
Power Grid Corpn 244.75↑3.70(1.53%)
Reliance Industr 2471.90↑30.15(1.23%)
SBI Life Insuran 1182.35↑8.65(0.74%)
St Bk of India 583.60↑7.10(1.23%)
Sun Pharma.Inds. 961.85↓-8.60(-0.89%)
Tata Consumer 788.90↑12.65(1.63%)
Tata Motors 500.50↑23.40(4.90%)
Tata Steel 109.55↑0.90(0.83%)
TCS 3250.60↑19.90(0.62%)
Tech Mahindra 1043.35↑6.95(0.67%)
Titan Company 2751.25↑18.35(0.67%)
UltraTech Cem. 7735.45↑106.65(1.40%)
UPL 715.40↑0.55(0.08%)
Wipro 380.35↑0.95(0.25%)

FAME subsidy row: Centre to return Rs 800 cr to ex-factory price defaulters

The remaining Rs 287 crore will be released once the companies submit the details of the requirements, sources said

Nitin Kumar New Delhi

Premium

The ministry will conclude the ex-factory price investigation after the completion of the reimbursement process

3 min read Last Updated : May 08 2023 | 7:06 PM IST

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With electric two-wheeler (E2W) manufacturers agreeing to reimburse consumers for the “off-board chargers”, for which the latter have paid, the government is planning to release the halted subsidy under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME) II to them.

Of the Rs 1,110 crore under suspension since the Ministry of Heavy Industries (MHI) started its probe into the matter in February, Rs 823 crore will be released to four defaulters — Ather Energy, Ola Electric, TVS, and Hero MotoCorp’s Vida — within days, government sources told Business Standard.

Ola, which will receive Rs 367 crore, is in line to get the highest payout from the MHI. It will be followed by around Rs 275 crore for Ather. TVS is likely to get Rs 153 crore, while the subsidy bill to be settled for Hero MotoCorp will be Rs 28 crore.