New Delhi: E-commerce giant Flipkart's Digital B2B (Business to Business) marketplace Flipkart Wholesale has announced a new credit scheme that will help grocery stores meet their working capital needs and grow their business. The company said in a statement that Flipkart Wholesale's credit offering includes 'EG credit' in partnership with IDFC First Bank and is in line with initiatives taken to address local grocery problems across the country.

Adarsh Menon, Senior Vice President, and Head, Flipkart Wholesale, has said that the company's main goal is to simplify the business for grocery and retailers and promote their growth journey. Through these new offerings, grocery stores can avail loans at zero cost through end-to-end digital onboarding in partnership with IDFC FIRST Bank and other financial technology institutions. Under the scheme, loans ranging from Rs 5,000 to Rs 2 lakh will be provided under an interest-free period of up to 14 days.

Menon further added that we believe that our new credit plan is designed to address the challenges that local grocery shopkeapers in India face. This will help them manage their cash flow and improve their buying experience on our platform, thereby ensuring that the entire B2B retail ecosystem benefits from digitization.

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