Which of the following bank has signed a Memorandum of Understanding (MoU) with Small Business FinCredit India Private Limited (SBFC) to jointly provide credit worth up to Rs 1 crore to MSMEs for a tenure of 15 years?

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	ICICI Bank
B	State Bank of India
C	Axis Bank
D	Bank of Baroda

Explanation:

Detailed explanation-1: -Small Business FinCredit (SBFC) Business Loan.

Detailed explanation-2: -The firm complies with all eligibility norms prescribed by RBI regarding appointment of SCAs/SAs of Commercial Banks (excluding RRBs)/UCBs/NBFCs (as applicable).

Detailed explanation-3: -SBFC’s extensive branch network in cities across India (including many Tier-2 and Tier-3 cities), together with our innovative digital channels and methods for identifying under-served and under-banked customers, makes us the appropriate lender for India’s entrepreneurs and MSMEs.

Detailed explanation-4: -ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses.

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