Interviews

Exclusive Interview with Mr. Pawan Kumar Agrawal, Senior President – Corporate Finance – Infrastructure Banking, Global Head – Renewable Energy, Yes Bank

Mr. Pawan Kumar Agrawal, Senior President – Corporate Finance - Infrastructure Banking, Global Head – Renewable Energy, Yes Bank

Yes Bank suggests Policy Makers to establish “Clean and Green India

 

EO: What have you found most striking about Yes Bank? And what have been your focus areas since the beginning?

Mr. Pawan Kumar Agrawal: Since inception, YES BANK’s ‘Knowledge Banking’ philosophy has helped us build long-lasting relationships with top corporate houses, emerging corporates and MSMEs. The use of state-of-art technology and innovations has helped us build comprehensive, customized solutions tailored to the unique needs of the client. YES BANK has adopted ART- Alliances, Relationships and Technology approach to Banking. This approach, offers Banking as a solution, to Corporates and Startups so that they can use Bank’s expertise to create differentiated path-breaking innovative solutions.

YES BANK’s endeavor to promote innovations and create a robust startup ecosystem has led to creation of DICE- (Design Innovation and Creativity led Entrepreneurship). DICE helps entrepreneurs address problems with design driven solutions backed by disruption in technology and innovations. The Core of YES BANK and its key differentials include Professional Entrepreneurship, Responsible Banking, Sustainability & renewables, smarter and more inclusive cities, as we move towards our vision of “Building the Finest Quality Large Bank of the World in India”.

 

EO: A total 30% adoption of Electric Vehicles, across all segments by 2030. How an EV Roadmap suggested in Yes Bank’s Report is an opportunity for all players involved in the EV value chain?

Mr. Pawan Kumar Agrawal: This is an opportunity for all players involved in the EV value chain, from policy makers to on-ground executors, to study and adopt the best policies in the world. There are specific recommendations from an Indian perspective, to catalyze India’s latent potential in the EV space, in order to generate both economic value as well as sustainable growth. The roadmap identifies the hurdles, proposes solutions and then propels the drivers of growth to deliver ‘Future Now’, innovations in the field of Electric mobility.

Hybrids can act as a catalyst while we transition to full electric mobility, as their adoption requires lesser focus on EV infrastructure, and would eventually help ease into full scale electric mobility adoption. The industry and Government must work collaboratively to leapfrog India, as a leader in mobility by addressing issues such as higher purchase cost, rollout of charging network, manufacturing & OEM capacities and, most importantly, user awareness & acceptability. Initial Government support and a right mix of policy framework, on both demand and supply side, would go a long way in providing momentum to this industry and strengthening our country, as a formidable global player and market leader in this landscape.

 

EO: As we are transitioning from a ‘fossil fuelled’ road to an electric mobility future. How Yes bank will support ourIndia's-Electric-Vehicle-Charging-Infrastructure nation in this journey?

Mr. Pawan Kumar Agrawal: India has the potential to radically transform its transportation sector to a shared, electric and connected one. To pave the way for future growth and accelerate the rate of adoption of EV in India, it is of vital importance to create an enabling ecosystem conducive to their development. YES BANK is committed to establish a synergetic agenda, between the Government, private automobile manufacturers, vendors, financial institutions and EV startups, by uniting these stakeholders, together to achieve the dream of a Cleaner, Greener, and Electric Future.

YES BANK has created a first of its kind, in-house multi-sector start-up accelerator YES SCALE (Smart City, Clean Tech, Agritech, Life sciences Tech, EduTech). The 15-week program is aimed at creating financial innovations by Sourcing, Scaling, and Sustaining Emerging Technology Solutions in Sunrise Sectors of the Indian economy. It aims to address the 3 biggest scale-up challenges faced by startups- Commercialization, Funding Support and Mentorship. YES BANK, with the aim to support nation in adoption of clean energy, has supported renewable energy projects. By launching India’s first ever Green Infrastructure Bonds to committing to financing 5 GW of Renewable Energy Projects by 2019 -YES BANK has laid a strong foundation for the Yes SCALE Cleantech Accelerator. YES BANK, has made a commitment for mobilizing USD 1 billion till 2023 and USD 5 billion till 2030 towards financing solar energy projects in India at the International Solar Alliance (ISA) conference organised at World Future Energy Summit 2018.

 

What challenges do you see in India’s Electric Vehicle Charging Infrastructure and what can be done?

Mr. Pawan Kumar Agrawal: In order to redefine the contours of India’s electric vehicle landscape, strategically establishing the highest quality charging infrastructure available is of paramount importance. Currently, filling the minimum requirement of a viable number of charging points would be the first step towards bridging the infrastructure gap in the electric vehicle ecosystem. This may be achieved in a sustainable manner through community charging centers in large residential areas, business hubs and commercial spaces. Further, we can utilize our vast solar energy rooftop grid network capabilities for these stations, thereby leveraging renewable energy in order to drive a clean, green and electric agenda.

Creation of a holistic ecosystem, from promotion of Electric Vehicle to building charging infrastructure, is necessary for successful adoption of Electric Vehicles. This ecosystem can be supported by policies like rationalization of taxes on Electric Vehicles, increased focus on research and development for solutions to indigenous challenges and sensitizing and creating awareness in public interest around vehicular pollution and benefits of Electric Vehicles.

 

EO: To pave the way for future growth and accelerate the rate of adoption of EV in India. What Policy Framework(s) Yes Bank suggests Policy Makers to establish “Clean and Green India”?

Mr. Pawan Kumar Agrawal: The creation of any new age entrepreneurial ecosystem, requires an enabling and stable policy environment that will be conducive to their development. YES BANK presents Agenda 30×30, which is a series of recommendable action points focusing on rallying at least 30% adoption of electric vehicles, pan India across all segments by 2030. This can be achieved by holistically amalgamating financial incentives (Tax rationalization, feebate programs, zero emission vehicle credit systems and weighted tax deductions on R&D), preferential incentives (discount on toll fees, preferential lanes and parking areas) and entrepreneurial initiatives (Innovation challenges, data centers and incubators), may also be considered, to give a shot in the arm for rapid EV adoption.

 

EO: How positive do you feel about the E-mobility future in India?

Mr. Pawan Kumar Agrawal: I believe that India is uniquely positioned to catapult the transition of its automobile sector from a traditional fossil fuel based industry to a green and sustainable mobility based future. In order to achieve sustainable, timely and profitable market penetration of electric vehicles in India, rapid technology adoption as well as a strong regulatory framework and incentivized support by the government is of vital importance. Furthermore, an emphasis needs to be placed on end to end solutions along the entire electric vehicle such as establishing necessary electric mobility infrastructure (charging stations), providing fiscal incentives as well as strengthening market linkages (preferential measures for adopters and users of EVs). I believe not only is it timely, it is both significant and essential for our planet as well as our generations to come.

 

About YES BANK

YES-BANK-LogoYES BANK, India’s fourth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.

YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.

YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “BUILDING THE FINEST QUALITY LARGE BANK OF THE WORLD IN INDIA”.

About Pawan Kumar Agrawal

Pawan Kumar AgrawalPawan Kumar Agrawal is the Global Head for Renewable Energy at YES Bank and also spearheads its Corporate Finance & Infrastructure business for North & East geographies. Being part of the YES Bank CEO’s League of Excellence is a reflection of his in-depth knowledge in the fields of banking & finance and his strong belief in ‘Solution Oriented Approach’.

Pawan has represented YES Bank across numerous National & International forums and delegations such as Carbon Pricing Leadership Coalition at Washington, Indo Japan Ministerial Energy Dialogue in Tokyo, Ministerial Energy Dialogues in Sweden and Finland, International Solar Alliance (a joint initiative of 121 countries formed at COP-21 in Paris in 2015) steering committee meetings in New York and Abu Dhabi. He also presented his ideas on ‘Mobilizing USD 1 Trillion for ISA solar projects’ during the New York meeting of ISA.

Pawan has many marquee infrastructure and structured finance deals to his credit. He has alsobeen steering YES Bank’s strategic initiatives in Infrastructure Financing, Policy Advocacy and Knowledge engagement with various Ministries, regulators and Government instrumentalities such as RBI, SEBI, NHAI, IIFCL, IREDA, SECI and many other.Pawan has also been instrumental
in YES Bank’s deep engagement with multilaterals and other international institutions such as World Bank, ADB, AIIB, Green Climate Fund (GCF), European Investment Bank, OPIC, USAID and many more.

An alumnus of FMS Delhi, Pawan is also a rank holder Chartered Accountant and Cost & Management Accountant. He has also completed Chartered Financial Analyst Program from CFA Institute USA.

Pawan has been associated with Yes Bank since last eight years, before which he has contributed at leadership positions in CRISIL, Indian Oil and Ernst & Young.

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