Thursday, Mar 28 2024 | Time 17:40 Hrs(IST)
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Business Economy


Amazon India launches seller lending network

Amazon India launches seller lending network

Bengaluru, Jue 13 (UNI) Buoyed by its two year lending programme for its sellers, Amazon India on Wednesday announced the launch of a lending network for its sellers offering loan options from over six third party lenders.

The lending programme which had attracted thousands of sellers over the last two years had witnessed a massive 450 per cent growth in two years and during the last five months alone the growth was 150 per cent, Mr Gopal Pillai General Manager and Director Seller Services in Amazon India told newsmen here.

The network offering working capital requirement ranging from Rs.two lakh to Rs.5 crore would provide a choice for sellers to pick up their lender and comparative interest rate he said adding that it would further simplify and ease access to working capital that could be obtained in less than 24 hours.

He said India is the first geography wherein Amazon had built a lending programme like this for sellers.

UNI CNR RS SKB1731

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