Facebook will Lend up to 50 Lakh Taka to Indian Businessman

Business Habit ⋅ @businesshabit ⋅ Aug 25, 2021

Facebook has taken initiative to give loans to small traders. This is the first time in India that such a social media giant has taken such an initiative. Businesses and companies that regularly advertise on Facebook will be given loans.

According to Facebook, loans ranging from Tk 5 lakh to Tk 50 lakh will be given. For this, you have to pay interest at the rate of 17-20 percent. However, this large amount of loan will be matched without any collateral.

Last week, Amazon made its first investment in India's wealth management sector. WhatsApp, another Facebook company, has already launched a digital payment service in the country.

Ajit Mohan, an Indian official at Facebook, claims that we are on the brink of a digital transformation. Facebook believes that lending to small businesses will enable their businesses to see rapid success.

Facebook has already started registering for the program in 200 cities across India.

Category and Tags

Technology Facebook Lend Money, Facebook, Indian Businessman

More stories by Business Habit

Exploring "Social Business Misconception: Insights into Muhammad Yunus’s Social Business Theory"

Social business has emerged as a groundbreaking concept for addressing pressing societal challenges through self-sustaining business models. Pioneered by Nobel Peace Prize laureate P...

Hazrat Shahjalal International Airport should be renamed as Dhaka Airport

The debate around renaming Hazrat Shahjalal International Airport to "Dhaka Airport" often stems from a few key reasons:International Recognition: "Dhaka" is a globally recognized name, and using it in the airport's name could make it easier for inte

The reason why Muhammad Yunus should be in Bangladesh's New Parliament

As Bangladesh stands on the cusp of a new era, it is imperative to consider leaders who have demonstrated unparalleled commitment to the nation's development, economic empowerment, and social justice. One such luminary is Muhammad Yunus, the Nobel Pe

The United Nations Must Act Immediately to Protect Bangladeshi Civilians

In recent years, Bangladesh has faced escalating political turmoil and violence, largely attributed to the alleged authoritarian regime of Prime Minister Sheikh Hasina Wazed. Numerous reports have surfaced detailing human rights abuses, including ext

Amnesty calls for immediate withdrawal of shooting orders, full accountability on the internet in Bangladesh

Deprose Muchena, Amnesty International's senior director, called on the government to immediately withdraw the shoot-on-sight order, restore full internet across the country and end the use of a special force and paramilitary forces against protester