‘SBI Asmita’ SME Loan For Women Entrepreneur Unveiled
FinTech BizNews Service
Mumbai, March 7, 2025 - State Bank of India, the nation's largest bank launches ‘SBI Asmita’ - SME loan for women entrepreneur, a dedicated collateral free digital loan product that offers low-interest rate funding. Launched on International Women’s Day 2025, SBI Asmita provides women entrepreneurs the opportunity to expand their business effortlessly.
The bank uses cutting-edge technology and a robust ecosystem of APIs to streamline the lending process for SBI Asmita borrowers. The product fetches and verifies the data footprints such as GSTIN, customers’ bank statements, CIC data base, etc. of the borrower, thereby, eliminating the hassle of physical document verification. Finally, it assesses the firm’s requirement and sanctions the limit.
A special add on to the product is such that, top women entrepreneurs will be identified among borrowers of SBI Asmita to provide them with entrepreneurial and management training.
SBI Asmita marks a significant leap in MSME lending space which is identified as one of the focal areas of the bank for the next five years. Further, aligning to the theme of International Women’s Day 2025, ‘Accelerate Action’, SBI Asmita demonstrates the bank’s intent to dedicatedly accelerate its women empowerment efforts.
Further, on the occasion, to promote financial independence and empowerment among women, SBI launched the ‘Nari Shakti’ platinum debit card to cater to the unique needs of women across various segments. The newly launched debit card is a RuPay powered card designed exclusively for women. This is the first debit card made from 100% recycled plastic that offers features across segments such as entertainment, shopping, travel, lifestyle, insurance and many more.
Shri Challa Sreenivasulu Setty, Chairman, SBI, said, "SBI Asmita is crafted with the vision of providing faster and easier finance to women led MSME units through a digital and self-initiated process. This is another step by the bank in endeavour to integrate innovation and customer-centric approach to revolutionize the MSME lending universe, with a special focus on enhancement of women entrepreneurship. The launch of SBI Asmita solidifies our position as the leading MSME lender in the country for women entrepreneurs. Additionally, it gives me immense pride to introduce the ‘Nari Shakti’ platinum debit card, a thoughtfully designed offering that caters to the unique needs of women across various walks of life.”
Echoing this sentiment, Shri Vinay Tonse, MD - Retail Banking & Operations, SBI emphasized, "In order to cater to MSME segment’s growth driven by women entrepreneurs, bank has been pioneering disruptive digital initiatives especially for the Nari Shakti of the country. It is the blend of technological innovation and social engineering. SBI Asmita offers a unique proposition to our existing as well as new micro-SME units who are part of the MSME ecosystem to fulfil all their business requirements by way of working capital and capital investment in the form of term loans through digital mode. Further, to empower connection of women with the bank and commitment to green initiative we are launching the ‘Nari Shakti’ Debit card, which is more than just a banking product—it is a step toward progress, inclusion, and convenience.”
With the launch of ‘SBI Asmita’ loan product and ’Nari Shakti’ debit card, State Bank of India remains committed to fostering women empowerment through innovative banking solutions.
