State Bank of India (SBI), the country’s largest public sector bank, has launched a new initiative named MSME Sahaj to support small and medium enterprises (SMEs) swiftly and conveniently.
Aims to Meet MSMEs’ Financial Needs Rapidly
SBI has introduced the MSME Sahaj campaign to cater to the financial requirements of small, micro, and medium enterprises (MSMEs) promptly.
This web-based solution aims to provide quick and easy financing options.
Under this initiative, small entrepreneurs can readily fulfill their working capital needs, ensuring minimal waiting time.
Loan Approval in 15 Minutes
Under the MSME Sahaj facility, enterprises registered under GST can avail loans up to Rs 1 lakh against GST registered invoices within just 15 minutes.
The entire process is digital, ensuring hassle-free accessibility for MSMEs, including those who haven’t previously borrowed from SBI.
Seamless Access through Digital Platforms
To benefit from MSME Sahaj, sole proprietors with a satisfactory current account can apply. Existing SBI MSME
customers can conveniently access this facility through the YONO SBI mobile app. Financial assistance under MSME Sahaj is provided in the form of short-term loans.
SBI Anticipates Three Key Benefits from MSME Sahaj
Accelerated Capital Access: MSMEs can obtain loans within 15 minutes, addressing their immediate financial needs effectively.
Broadened Customer Base: The initiative aims to reach out to MSMEs that were previously underserved by SBI.
Promotion of Digital Banking: MSME Sahaj will contribute to SBI’s efforts in advancing digital banking solutions across the sector.
This campaign underscores SBI’s commitment to supporting MSMEs through innovative and accessible financial solutions.
