To help sellers on the e-commerce platforms meet festive demand, the third largest private sector lender Axis Bank today said it will be offering collateral-free loans to Snapdeal members.
These will be pre-approved loans and will enable sellers in the fledgling segment scale up their inventories to meet the festive demand, the bank said in a statement.
Loans ranging from Rs 2 lakh to Rs 1 crore will be available for the sellers till October 31, it added.
The loans will be offered to select sellers under a financing programme of Snapdeal, it added.
"This is the first time that small businesses are being offered pre-approved working capital loans," bank managing director and chief executive Shikha Sharma said.
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Yes Bank ties up with S'porean co to launch mobile wallet
* Yes Bank today partnered with Singapore-based MatchMove Pay to launch a mobile wallet.
"Initially MatchMove Pay will launch its mobile wallet platform-as-a-service in India through Yes Bank's regulatory infrastructure, thereby offering the latter's customers an alternative online payment solution via its pre-paid virtual cards licensed by MasterCard," it said in a statement.
This is aimed at enabling customers who do not use credit cards or use online banking facilities to transact online, it said, adding that this is a "multi-dimensional strategic partnership".
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Square Yards opens office in Doha
* Realty portal Square Yards today said it has opened office in Doha aiming to target NRI customers.
The Doha office is the third in the Gulf region after Dubai & Abu Dhabi.
Gurgaon-based Square Yards, which was founded in 2013, is a technology-enabled transaction and aggregation platform for real estate.
Square Yards COO Kanika Shori said: "The opening up of this office is an integral part of the Square Yards' strategy to capitalise on penetrating further into the NRI section living in the GCC nations".
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Govt's support critical for impetus to project exports :Exim Bank
* Government's support would be critical for success of Exim Bank's commitment to providing impetus to project exports by devising innovative financing programmes and products and tapping the emerging opportunities
in Asia and Africa, Exim Bank Chairman and MD Yaduvendra Mathur has said.
Mathur was speaking at the seminar organised by the bank on October 1, the Exim Bank said in a statement.
Project exports are a measure of a nation's economic development.
