SBFC and this bank signed a Memorandum of Understanding to provide loans worth Rs. 1 crore to MSMEs for 15-year tenure.
[A].
ICICI Bank
[B].
HDFC Bank
[C].
Axis Bank
[D].
IDBI Bank
Answer: Option A
Explanation:
ICICI Bank signed a Memorandum of Understanding (MoU) with Small Business FinCredit India Pvt Ltd (SBFC) on 4 January 2019. Under the MoU, it will jointly provide loans worth up to Rs 1 crore to the Micro, Small and Medium Enterprises (MSMEs). ICICI Bank will co-originate loan against property with SBFC at a mutually agreed ratio. The loans of up to Rs 1 crore is for a tenure of 15 years.
