Current Affairs - Banking - Discussion

Discussion :: Banking - Latest Current Affairs (Q.No.275)

275. 

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.

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