Facebook continues to implement various new schemes. Similarly, the company has come up with various new security features on the Facebook site. According to sources, Facebook will provide industrial loans to SMEs in India.
Facebook has also partnered with online lending Indifi for this purpose. This was later confirmed by Ajit Mohan, managing director of Indifi.
Facebook said the business loan would help them run their business especially in the midst of the corona problem. However, Facebook has noted that their company has no income by doing this.
According to a report on the Livemint website, loans ranging from Rs 5 lakh to Rs 50 lakh can be availed through this credit service. The interest rate in particular ranges from 17 to 20 percent. Similarly, women are said to be given 0.2 percent concession at interest rates. It is also said that the loan service will be available in 200 cities of India for the time being.
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