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Indian Economy - Understanding the basics of Indian economic system

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04-Aug-21

HDFC Bank launches ‘Dukandar Overdraft Scheme’ for small retailers

India’s largest private lender, HDFC Bank, has launched an overdraft facility for small retailers called ‘Dukandar Overdraft Scheme’, to help shopkeepers and merchants in easing their cash crunch.
The scheme has been launched in partnership with the CSC SPV, government’s e-governance services delivery arm that enables government schemes and services through common service centres (CSCs).
Who are eligible: Retailers operating for a minimum of three years are eligible for the scheme.
How to avail the service: Beneficiaries need to provide six months bank statement from any bank.
HDFC Bank will approve the overdraft limit based on the bank statements as under:
Minimum overdraft limit: Rs 50,000
Maximum overdraft limit: Rs 10 lakh
Bank will not seek any collateral security, business financials, and income tax returns from the retailers, applying for the scheme.

By: Rohit Middha

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