Facebook announces ₹32 crore grant for SMBs in India

Social media giant Facebook, today announced a ₹32 crore ($4.3 million) grant for small businesses in India. The money is part of a small business grants programme Facebook had announced globally in March this year. The programme involves a total of $100 million in cash and advertisement credits, though Facebook says cash constitutes a larger share.

Facebook’s India Head, Ajit Mohan, said the company will be disseminating the fund to over 3000 small businesses (SMBs) in India in Delhi, Gurugram, Mumbai, Hyderabad and Bengaluru, cities where Facebook has offices.

Mohan also said that the SMBs won’t be required to use Facebook technologies or even be a customer for the company. Applications for the same will be opened soon.