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Which bank has announced(13 June 2022) USD 250 million in lending support for high-growth, technology-led start-ups in India?
HSBC India
World Bank
Deutsche Bank

Correct Answer : Option (A) - HSBC India

* Foreign lender HSBC India on Monday(13th June 2022) announced that it will lend USD 250 million to startups in the country.
* The bank did not specify the timeframe for disbursal of the amount
* The lending will be done to high-growth, tech-led startups in the third largest startup ecosystem in the world, the lender said in a statement.
* The lending, which comes amid increased focus on startups' debt needs by financial intermediaries locally and a 'funding winter' impacting equity funding to the sector, will be managed by the lender's commercial banking vertical.
* The commercial banking vertical in India had witnessed a 42 per cent jump in its profit for 2021 at USD 265 million as against USD 187 million in the year ago period.
* Loans to small and medium enterprises tripled to USD 1 billion in 2021 as against USD 300 million in 2018, the bank said..

Source : Business Standard

Published On : June 17, 2022
Category : Banking