SBI Launches SME Loan for Women Entrepreneurs, Unveils ‘Nari Shakti’ Debit Card

Mumbai: SBI has launched a collateral-free SME loan for women entrepreneurs, offering additional interest benefits to support business growth. Introduced on International Women’s Day, the loan aims to simplify funding access for women-led businesses by leveraging technology to streamline the lending process.

The application process is fully digital, with borrower data verified through APIs using GSTIN, bank statements, and the CIC database, eliminating the need for physical documents. Loan limits are assessed based on business requirements.

The bank will identify top women entrepreneurs among borrowers and provide them with management and business training. The initiative aligns with SBI’s MSME sector growth plans for the next five years and reflects the International Women’s Day theme, ‘Accelerate Action.’ SBI said the loan supports its focus on financial inclusion and commitment to women empowerment.

SBI also launched the ‘Nari Shakti’ platinum debit card, exclusively designed for women and powered by RuPay. It is the first SBI debit card made from 100% recycled plastic and offers benefits across entertainment, shopping, travel, lifestyle, and insurance.

SBI chairman Challa Sreenivasulu Setty said, “SBI Asmita is crafted to provide faster, easier finance to women-led MSMEs.” He added that the bank integrates innovation with a customer-centric approach and aims to strengthen its position as a lender for women entrepreneurs.

Vinay Tonse, MD - retail banking & operations, said, “SBI has been pioneering digital initiatives for the Nari Shakti of the country.” He said the bank seeks to blend technology with social impact, offering credit access to both existing and new micro-SME units. The initiative is expected to boost women’s participation in business and financial independence.