RBL Bank has partnered with Wholesalebox, a B2B online mobile app based e-marketplace for garment retailers, to launched ‘RBL Bank Udhaar’, which is a short-term credit facility for working capital requirements of retail shopkeepers. The bank said this will be a first of its kind digital lending product allowing retailers to breathe easy, without worrying about the lengthy paperwork for availing credit. The product facilitates instant remittance to partners accompanied with fastest checkout for retailers, taking the speed of buying process to the next level. The Bank will extend ‘RBL Bank Udhaar’ to a base of over 25,000 retailers through Wholesalebox’s mobile app and website with real-time loan disbursement of up to Rs 3 lakh to each retailer. It will also be available and accessible to shops across 5000 pin codes where Wholesalebox has its network. Harjeet Toor, head – Retail, Inclusion and Rural Business at the bank, said with this partnership, the bank intends to empower the retailers to utilize their credit multiple times and repay the amount conveniently. Rohit Dangayach – CEO & co-founder, Wholesalebox, said the retailers will benefit substantially through this association.
