- The initiative was launched in partnership with Indifi, which is an online lending platform.
- The initiative was first launched in India itself by Facebook.
- Under the initiative, the SMBs (small and medium businesses) who promotes and advertise their businesses on the Facebook platform will be given quick access to loans through independent lending partners.
- The initiative aims to provide quick access to business loans to the SMB owners, thus reducing the credit gap within India’s MSME sector.
- The initiative is open to businesses registered across 200 cities and towns in India.
- The SMB will get the loans at the interest rate of 17-20% per annum.
- The SMBs who run their businesses through promotion on Facebook can apply for the initiative through a quick online application.
- Static Part:
- HQ of Facebook: California, United States
- CEO of Facebook: Mark Zuckerberg
Question:
a. SBI and UNDP India
b. Flipkart and HDFC Bank
c. Amazon India and NITI Aayog
d. Facebook India and Indifi
