SBI Partners With Uber For Instant Vehicle Financing

India’s largest Public Sector lender, SBI ties up with Taxi Aggregator, Uber to provide instant vehicle finance to “driver partners’ on the latter’s platform.

The scheme would encourage skilled drivers to overcome liquidity crunch and excess documentation requirements to become an entrepreneur.The loans could be sanctioned in one day using an inbuilt digital offering. The loans would be collateral free as well as carry a very competitive interest rate. All loans will be covered under the government’s Pradhan Mantri Mudra Yojna Scheme

Extra info:
  • State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.
  • Arundhati Bhattacharya, SBI’s new chief. Mumbai: Arundhati Bhattacharya, 57, the youngest of the managing directors at State Bank of India (SBI), will become the first woman chief of the country’s largest lender, succeeding Pratip Chaudhuri
  • Uber Technologies Inc. is an American multinational online transportation network company headquartered in San Francisco, California.

So lets do:
  • Recently India’s largest Public Sector lender SBI patner for Instant Vehicle Financing?
  • Who is the Chief of State Bank Of India?

Source – The Hindu

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