HDFC Bank launches ‘Dukandar Overdraft Scheme’ for small retailers
- India’s largest private lender, HDFC Bank, has launched an overdraft facility for small retailers called ‘Dukandar Overdraft Scheme’, to help shopkeepers and merchants in easing their cash crunch.
- The scheme has been launched in partnership with the CSC SPV, government’s e-governance services delivery arm that enables government schemes and services through common service centres (CSCs).
- Who are eligible: Retailers operating for a minimum of three years are eligible for the scheme.
- How to avail the service: Beneficiaries need to provide six months bank statement from any bank.
- HDFC Bank will approve the overdraft limit based on the bank statements as under:
- Minimum overdraft limit: Rs 50,000
- Maximum overdraft limit: Rs 10 lakh
- Bank will not seek any collateral security, business financials, and income tax returns from the retailers, applying for the scheme.
Source: Financial Express
Points to remember:
- Which bank has launched the ‘Dukandar Overdraft Scheme’? HDFC Bank
- Maximum and minimum overdraft limit of ‘Dukandar Overdraft Scheme’?