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SBI advises Snapdeal sellers to reduce their outstanding loans

SBI advises Snapdeal sellers to reduce their outstanding loans

Wednesday, March 22, 2017, 5:34 PM

The State Bank of India has sent advisories to nearly 100 sellers, coming under online marketplace Snapdeal's capital-assist programme, to reduce their outstanding loans above their drawing power.The advisory comes following a letter was written by All India Online Vendor Association (AIOVA) to Union Commerce Minister Nirmala Sitharaman, raising fears that Snapdeal may default on payments to the sellers.
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