The company noted in a statement that SMEs across India have been financially impacted due to the nationwide lockdown.
This fund for SMEs in logistics will be available to delivery service partners and select transportation partners in India to help adjust their business model to the “new realities” posed during the lockdown, it said.
“Through the one-time disbursement, the fund will support the partners in multiple ways. This includes enabling them to provide financial aid to close to 40,000 of their staff for the month of April 2020.
Additionally, it will help cover some critical fixed infrastructure costs, and support liquidity and cash flow for these businesses as they resume and scale their operations post lockdown,” the company said.