SBI readies Rs 1k-cr B2B e-market only for MSMEs
(State bank of India is ready to invest Rs750-1000 crores) and leverage its YONO platform (to set up business to business e commerce market place for micro, medium and small enterprises (MSMEs).)
The country’s largest lender hopes this will also help it (better manage financing of small businesses.) The plan which has been cleared by the bank’s executive committee, entails getting MSMEs on to the platform and providing funds based on the transactions that take place
SBI MD Challa Sreenivasulu Setty said that they are (engaging with the MSME ministry to create a marketplace for SBI customers) to sell their products, called Bharat craft, which is going to be (an e commerce and technology driven platform) and it is in the initial stage of taking shape.
(YONO is currently used by the bank to hawk its products and as an e commerce platform)
Among other banks, (HDFC already has an e-commerce platform Smartbuy.)
The country’s largest lender hopes this will also help it (better manage financing of small businesses.) The plan which has been cleared by the bank’s executive committee, entails getting MSMEs on to the platform and providing funds based on the transactions that take place
SBI MD Challa Sreenivasulu Setty said that they are (engaging with the MSME ministry to create a marketplace for SBI customers) to sell their products, called Bharat craft, which is going to be (an e commerce and technology driven platform) and it is in the initial stage of taking shape.
(YONO is currently used by the bank to hawk its products and as an e commerce platform)
Among other banks, (HDFC already has an e-commerce platform Smartbuy.)
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