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‘Small Business Loans Initiative’—Facebook India and Indifi

Published on August 22, 2021
Current Context: Facebook India has launched the ‘Small Business Loans Initiative’.
‘Small Business Loans Initiative’—Facebook India and Indifi
  • 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: 

Q.1 Which organisation launched the ‘Small Business Loans Initiative’?
a. SBI and UNDP India
b. Flipkart and HDFC Bank
c. Amazon India and NITI Aayog
d. Facebook India and Indifi

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