NEW DELHI: State Bank of India (SBI) has launched ‘SBI Asmita’, a digital loan product for women entrepreneurs.
The bank introduced this collateral-free SME loan on International Women’s Day 2025. It offers low-interest funding to help women expand their businesses easily.
SBI Asmita simplifies the loan process using advanced technology. The bank verifies borrower details through GSTIN, bank statements, and credit records.
This eliminates the need for physical documents and speeds up approvals. The system assesses business needs and sanctions loans digitally.
A unique feature of SBI Asmita is its support for top women entrepreneurs. Selected borrowers will receive training in business and management to help them grow further.
SBI aims to strengthen its MSME lending over the next five years. The initiative aligns with the International Women’s Day 2025 theme, “Accelerate Action,” reflecting the bank’s commitment to women empowerment.
On the same occasion, SBI also launched the ‘Nari Shakti’ platinum debit card. This RuPay-powered card is designed exclusively for women and supports their financial independence. Made from 100% recycled plastic, the card offers benefits in shopping, travel, lifestyle, and insurance.
Challa Sreenivasulu Setty, Chairman of SBI, said, “SBI Asmita is designed to provide quick and easy finance to women-led MSMEs through a digital process. It strengthens our position as the top MSME lender for women entrepreneurs. I am also proud to introduce the ‘Nari Shakti’ debit card, which meets the unique needs of women across various sectors.”
Shri Vinay Tonse, MD – Retail Banking & Operations, added, “In order to cater to MSME segment’s growth driven by women entrepreneurs, the 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 and new micro-SME units within the MSME ecosystem, fulfilling all their business requirements through working capital and capital investment in the form of term loans via digital mode. Furthermore, to strengthen women’s connection with the bank and reinforce our commitment to a green initiative, we are launching the ‘Nari Shakti’ Debit Card. This is more than just a banking product—it is a step toward progress, inclusion, and convenience,” he adds.
With these new initiatives, SBI continues to empower women through innovative banking solutions.
