|18th March 2016, 12:10||#1|
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SBI partners with Uber: Vehicle financing for Uber drivers
India’s largest bank, State Bank of India (SBI), as part of its SME lending initiatives has signed a partnership with Uber to provide vehicle finance for driver-partners on its platform.
As per SBI Chairman Arundhati Bhattacharya: "The on-demand transportation segment growth has created a whole new ecosystem enabling lakhs of Indians to earn livelihood by becoming microentrepreneurs on such platforms. In the process, it has also opened up a new world of opportunities for the banking industry, not just in the on-demand transportation loan space but also in other areas like payment wallet, consumer finance etc. It is now upon us to leverage these opportunities. Doing so requires us to think and go beyond the traditional banking products and delivery services. In January, earlier this year, SBI had launched an innovative digital loan offering for merchants on e-commerce platforms. The offering has been extended to some of the largest players in the space including Snapdeal, Flipkart, Paytm etc. The partnership with Uber is another big step in the bank's vision to build a risk mitigated portfolio by leveraging new ecosystem opportunities"
Full Press Release: Link
Last edited by Rajeevraj : 18th March 2016 at 12:13.
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