CURRENT AFFAIRS

Detailed explanation-1: -Mumbai, July 26, 2021: HDFC Bank today announced the launch of an overdraft facility for small retailers in partnership with CSC SPV. Known as ‘Dukandar Overdraft Scheme’, this facility will help shopkeepers and merchants ease their cash crunch.

Detailed explanation-2: -The ‘Dukandar Overdraft Scheme’ by HDFC Bank is pointed toward helping shopkeepers and merchants & ease their cash crunch.

Detailed explanation-3: -Now with HDFC Bank MyBusiness, you can avail of a Dukandar Overdraft for up to Rs. 10 lakhs. This stress-free financing solution lets you pay interest only on the amount utilised.

Detailed explanation-4: -Current accounts are those accounts which are opened for the purpose of regular business transaction. This type of account is more suited for users like firms, companies, business organisation etc. Bank gives many facilities to current account holder, one such facility is overdraft facility.

Detailed explanation-5: -You can avail up to Rs 1.25 lakhs as an overdraft and pay interest only on the amount used and the duration of utilisation, which means you can utilise Rs. 1 lakh for an interest of just Rs. 41.09 per day. This facility is easy to activate, requires no documents and guarantees money in your account in seconds.