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
as against USD 300 million
in 2018, the bank said..Source : Business Standard