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.
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.