The funding will be reportedly channelled to provide a major fillip to the startup's expansion strategy, product development, and establishing international footing. Founded in 2019, GIVA aims to solidify its presence as the leader in the silver jewellery segment.
Arun Tiwari, CMD, Union Bank of India said confidence of getting cash whenever needed will return back for people in a month or so. He said RBI is now in a better position to supply currency.
Leather and leather goods sector is a focus area under the 'Make in India' initiative of the central government and the aim is to increase its exports to USD 15 billion by 2020 from the current USD 6 billion.