|
|
|
Mastercard commits Rs 250 cr to support SMEs
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 09 Jul, 2020
Mastercard on Thursday committed
Rs 250 crore to help Indian small and business enterprises recover in
view of the severe impact of the pandemic.
"Their dependence on
the cash economy and supply chain disruptions have made India's small
and medium businesses amongst the hardest hit from the COVID-19
pandemic," Mastercard said in a statement.
As part of this
commitment, the company will roll out multiple initiatives to help small
businesses by growing digital payments awareness and providing low-cost
acceptance solutions, both online and offline.
Further, it will
drive inclusive growth by enabling small merchants and kirana stores
with access to credit, knowledge and tools that will drive operational
efficiencies, it said, adding that under the programme, the company will
also empower women entrepreneurs by increasing their business acumen.
This
is an extension of Mastercard's expanded worldwide commitment to
financial inclusion which pledges to bring a total of 100 crore people
and 5 crore micro and small businesses into the digital economy by 2025.
In April this year, the company also pledged $250 million to support
small businesses globally.
"Today's announcement confirms that
the company will dedicate a significant proportion to India to benefit
millions of SMEs over the coming five years," it said.
Porush
Singh, Division President, South Asia, Mastercard said that small
businesses are the foundation of India's economy, contributing nearly 35
per cent of the GDP.
"Mastercard will leverage its network,
knowledge, technology and partnerships to help these enterprises sustain
and grow their businesses. As a result of these initiatives, India's
small businesses and entrepreneurs will gain increased access to credit
and build operational efficiencies," he said.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|