Facebook said there is no "monetary benefit" from its just launched Small Business Loans Initiative for Indian MSMEs.
The social media giant rolled out its first small business loans initiative in India to help MSMEs avail loans between ₹5 lakh and ₹50 lakh.
In a freewheeling chat with Fortune India and editorji, Facebook India head Ajit Mohan talks about the social media giant’s take on the new IT norms, and its views on privacy, among other things.
In an exclusive conversation with Fortune India and Editorji, Facebook India boss Ajit Mohan opens up on social media regulation, privacy, and more.
Facebook earned its chops by connecting people. Its next big bets are on content creators and small businesses. And aiding it are Whatsapp and Instagram.
More applications are likely as the RBI extends the deadline by a month to seek the licence for setting up a pan-India New Umbrella Entity (NUE), which will compete with the NPCI.
According to a report by Bain & Co. and Sequoia India, social media has become crucial for small retailers, accounting for 85% of their commerce. And the number is expected to only go up.
Kirthiga Reddy will be a venture partner at SoftBank Investment Advisers, which advises the $100 billion Vision Fund.
A sneak peek into the issue.