SBI - HUL join hands to transform retailer payments digitally
The partnership will enable digital solutions for retailers and customers of HUL SBI will provide a paperless instant OD facility to retailers to enable payments to distributors via a hassle-free online platform SBI will provide financing to HUL’s distributors at reasonable rates The partnership will act as a change catalyst in the adoption of digital payments among HUL retailers, small entrepreneurs in semi-urban and rural areas Mumbai – October 1, 2020: On the 151st birthday of Mahatma Gandhi, two of the country’s iconic companies, State Bank of India (SBI) and Hindustan Unilever Limited (HUL) have come together to cater to the needs of small retailers by providing them digital payment and financing solutions. This partnership will help digitally empower HUL retailers and distributors through SBI’s customized solutions. Under this collaboration, the bank will offer an instant paperless overdraft facility of up to Rs. 50,000 to retailers for their billings with distributo...