Money & Banking

U GRO Capital, SBM Bank India partner to launch credit card for MSMEs

Our Bureau Mumbai | Updated on April 08, 2021

These are a range of secured credit cards specially designed for under-banked MSMEs

U GRO Capital on Thursday announced its partnership with SBM Bank India for the launch of GRO Smart Business credit card.

Powered by RuPay, along with EnKash, these are a range of secured credit cards specially designed for under-banked micro, small and medium enterprises, it said in a statement.

Also read: U GRO Capital launches GRO Micro, adds 25 branches

These can be availed by U GRO Capital borrowers against a fixed deposit (FD) with SBM Bank India.

MSMEs eligible for the business loans from U GRO Capital would be extended incremental funds to open an FD account with SBM Bank and the credit card would be offered against the security of an FD maintained by the applicant in his name, it further said.

Published on April 08, 2021

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