ICICI Bank, in a first-of-its-kind programme, signed a Memorandum of Understanding (MoU) with Small Business FinCredit India Pvt. Ltd. (SBFC), a systemically important Non-Banking Finance Company for entrepreneurs, to jointly provide credit worth up to Rs 1 crore to MSMEs for a tenure of 15 years. Under this arrangement, ICICI Bank will co-originate loan against property with SBFC at a mutually agreed ratio.
Source: The Economic Times
Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:
- ICICI Bank Headquarters: Mumbai, MD& CEO: Mr. Sandeep Bakshi, Tagline: Hum Hain Na!