Hong Kong and Shanghai Banking Corporation Limited, India (HSBC India) has announced USD 250 million in lending support for high-growth, technology-led start-ups in India, which has the world’s third-largest start-up ecosystem. HSBC will administer the lending via its commercial banking division. It has also not mentioned any specific timeframe for disbursal of the amount.
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HSBC stated that the lending will be done to high-growth, tech-led startups in the third largest startup ecosystem in the world. HSBC has prepared a credit model and offerings to suit the specific requirements of a wide spectrum of startups and new-age entities, ranging from growth stage to unicorns.
Important takeaways for all competitive exams:
- HSBC India Founded: 1853;
- HSBC India Headquarters: Mumbai, Maharashtra;
- HSBC India CEO: Hitendra Dave.