SBI the public sector lender has tie up with Uber for providing instant vehicle finance to ‘driver-partners’.
By this scheme skilled drivers would be encouraged to overcome liquidity crunch and excess documentation requirements to become an entrepreneur.
Only in one day, the loans could be sanctioned using an inbuilt digital offering and would be collateral free as well as carry a very competitive interest rate.
SBI said in a statement that all loans will be covered under the government’s Pradhan Mantri Mudra Yojana Scheme.
