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Lendingkart partnered with SBM Bank India

Published on September 10, 2021
Current Context: The SBM Bank India partnered with Lendingkart which is a fintech start-up.
Lendingkart partnered with SBM Bank India
  • They have partnered to grant overdraft (OD) facilities to 1 lakh MSME customers via the platform of Lendingkart.
  • Currently, OD facilities that are offered by most lenders require borrowers to furnish collateral such as property, fixed deposits, and business inventories and many small businesses are not able to provide so.
  • So to overcome this, the entities have partnered to offer OD facilities through technology, efficiency, and customized solutions.
  • They will provide special features like on-demand disbursement, no paperwork and a digital way of support.
  • Static Part: 
    • HQ of Lendingkart: Bangalore, Karnataka
    • MD of Lendingkart: Harshvardhan Lunia
    • HQ of SBM India: Mumbai

Question: 

Q.1 With the partnership with which bank has Lendingkart announced to grant overdraft (OD) facilities to 1 lakh MSME customers via its platform?
a. Karnataka Bank
b. Bank of Baroda
c. SBM India
d. SBI
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