Indian Banks To Launch Blockchain Funding For SMEs

A group of 11 Indian banks will come together to launch the country’s first blockchain linked funding for small and medium enterprises (SME) to bring about change in the existing lending practices.The banks reportedly include, ICICI, Axis, HDFC, Yes Bank, among others, as per a report published by news portal, Money Control. Other banks that will function as outside members will include, State Bank of India, South Indian Ban, Bank of Baroda, to name a few.Abhijeet Singh, Head of Business Technology at ICICI Bank, told the portal, “The idea of having such an organisation is to remove any communication hurdle among the different banks.

Url: https://www.developcoins.com/indian-banks-to-launch-blockchain-funding-for-smes

Main category: Business

Sub category: Services

Tags: Blockchain technology, Blockchain techology in banking industry,Blockchain techology in banking sect

Added: 30-01-2019