SBI has entered into a strategic partnership to promote cross-border trade and facilitate payments for SBI and PayPal users both in India and abroad.It also entered into a tie-up with eCommerce player Snapdeal.
Under the ‘Snapdeal-Capital Assist’ programme, sellers or manufacturers on its platform will be able to access liquidity at attractive rates from SBI, with women entrepreneurs getting a concession of 0.25 per cent. Besides, no collateral will be required for loans up to Rs 1 crore. The partnership with PayPal will enable SBI debit cardholders to use the digital payment firm when buying products from overseas websites.
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