NMB Bank will provide unsecured loans to Daraz Nepal sellers of up to Rs 5 lakh. The two have reached an agreement that will see the prominent commercial bank offer loan without collateral electronically.
Govind Ghimire, Deputy Chief Executive Officer of the bank, and Aanchal Kunwar, Managing Director of Daraz Nepal signed the agreement papers recently.
The move is aimed at promoting entrepreneurship while also fostering financial inclusion.
The loan will be provided based on banking access, running productive businesses, and startup firms.
NMB Bank will provide loans in the form of working capital loans up to Rs 5 lakh to Daraz sellers.
Ghimire stated that loans will be provided to those who prioritize the real sector of the economy and stress digitization. He also shared that applicants will receive their loans within minutes of applying online.
Also read: Now you can return products to Daraz via Postal Service
NMB Bank providing Daraz sellers loan of Rs 5 lakh
Ghimire also expressed that the unsecured loan will prove to be a milestone in the government’s vision of a Digital Nepal since the loan is paperless, and fast.
NMB Bank is one of the prominent banks in Nepal with services spanning countrywide. The bank is marked for its adoption of digital banking practices and innovative mobile banking features.
Likewise, Daraz is Nepal’s leading online marketplace with millions of products available through its platform. It’s a popular home to several domestic and international brands for Nepali consumers. In recent months, the company has prioritized localized business strategies and is actively promoting entrepreneurship and startups.
Providing loans without collateral is in line with Daraz’s commitment to endorse Nepal’s entrepreneurship landscape and encourage domestic enterprise. Check out: Daraz Adds More Drop-Off Locations In Collaboration With IME Pay
Many are presumably seeking easy loans in Nepal to start or expand their businesses and they could benefit from this agreement between the eCommerce giant and the prominent bank. What do you think about Daraz and NMB Bank’s cooperation for it? Do share your opinion in the comments below.
