The Common Service Centres (CSC) and Adani Capital agreed to provide flexible working capital of up to Rs 5 lakh per month to all 6,000 CSC network retailers. The CSC Grameen e-Store is a rural ecommerce venture run by these retailers.
According to one of them, the CSC, a special purpose vehicle (SPV) of the Ministry of Electronics and Information Technology, and Adani Capital, the nonbanking financial company (NBFC) arm of Adani Group, reached an agreement last month. A retailer working with the CSC can request a loan of up to Rs 5 lakh per month from Adani Capital as part of the agreement and use the funds to place orders with the larger distributors. Previously, retailers had to collect and wait for order values to exceed Rs 1 lakh before placing orders with distributors.