SBI Asmita Launch: Giving a special gift to women ahead of International Women’s Day, India’s largest bank State Bank of India (SBI) has introduced an SME loan named ‘SBI Asmita’ for women entrepreneurs.
It is an unsecured digital loan product, which facilitates funding at a low interest rate. The bank said in its statement that ‘SBI Asmita’, launched on the occasion of International Women’s Day 2025, will give women entrepreneurs an opportunity to grow their businesses easily. This step is an important initiative towards women’s empowerment.
Digital loan process, use of new technology
The bank has used new technology and a strong API ecosystem to simplify this loan process. Through ‘SBI Asmita’, data footprints such as the user’s GSTIN, bank statement, and Credit Information Company (CIC) database, can be automatically obtained and verified. This will almost eliminate the hassle of physical verification. Finally, it will evaluate the firm’s requirements and approve the loan limit. This digital process makes loan applications faster and more convenient.
Features of ‘SBI Asmita’
‘SBI Asmita’ is a digital and guarantee-free loan, which gives additional interest benefits to women entrepreneurs. The bank will select some of these women and train them in entrepreneurship and management. ‘SBI Asmita’ is being considered a major step in the MSME loan sector, which the bank describes as one of its key focus areas for the next five years. The scheme will help women move towards business success.
‘Nari Shakti’ Platinum Debit Card
To promote financial independence and empowerment of women, SBI has also launched the ‘Nari Shakti’ Platinum Debit Card, which has been designed to meet the needs of women from different sections.
This new debit card is the first card made from 100% recycled plastic, which will provide facilities for entertainment, shopping, travel, lifestyle, insurance, and many other areas. This ‘Nari Shakti’ Platinum Debit Card will be powered by a RuPay card. This card also promotes environmental awareness.
Statement of SBI Chairman
Chala Srinivasulu Shetty, Chairman, State Bank of India said, “SBI Asmita has been designed with a vision to provide digital and easy financial support to women-led MSME units. It focuses on innovation in the MSME lending sector and promoting women entrepreneurs.
It further strengthens our position as a lending institution for MSMEs. Also, I am extremely proud to launch the ‘Nari Shakti’ Platinum Debit Card, which has been designed to meet the needs of women from different sections.” This statement reflects SBI’s commitment.