SBI Asmita Digital SME Loan & Nari Shakti Debit Card

Empowering Women in Business & Banking

• State Bank of India (SBI) has launched two women-centric financial products:
  • ‘SBI Asmita’: A collateral-free digital SME loan for women entrepreneurs.
  • ‘Nari Shakti’ Platinum Debit Card: A RuPay-powered debit card catering to women’s financial needs.

SBI Asmita: Digital Loan for Women Entrepreneurs

• Objective: Provide hassle-free digital financing for women-led MSMEs.
• Key Features:
  • No collateral required.
  • Uses APIs (Application Programming Interface) to automate data verification (GSTIN, bank statements, CIC database).
  • No physical document submission.
  • Quick loan assessment & sanction based on business requirements.
• Special Add-On:
  • Top-performing women entrepreneurs under the scheme will receive entrepreneurial and management training.

‘Nari Shakti’ Platinum Debit Card

• Eco-friendly card: Made from 100% recycled plastic.
• Benefits across multiple sectors:
  • Entertainment, shopping, travel, lifestyle, insurance, etc.
  • RuPay-powered, offering exclusive discounts & privileges.

SBI’s Vision & Leadership Statements

• Challa Sreenivasulu Setty (Chairman, SBI):
  • SBI Asmita is designed for fast, easy finance for women-led MSMEs through a fully digital, self-initiated process.
  • The ‘Nari Shakti’ debit card enhances financial inclusion and caters to diverse financial needs of women.
• Vinay Tonse (MD – Retail Banking & Operations, SBI):
  • SBI Asmita is a comprehensive solution for MSMEs, covering working capital and capital investment needs via digital mode.

Additional Initiatives in Women’s Banking

• Bank of Baroda (BoB) Initiatives for Women NRIs:
  • ‘bob Global Women NRE & NRO Savings Account’:
    • Auto sweep facility for higher interest earnings.
    • Concessional home & auto loan rates, reduced processing fees.
    • 100% locker rent concession.
    • Customized debit card with free domestic & international airport lounge access.
    • Free Personal & Air Accident Insurance coverage (first among PSBs to offer NRI insurance benefits).

A Step Towards Women’s Financial Inclusion & Empowerment

• SBI’s Asmita loan & Nari Shakti debit card align with the broader goal of financial empowerment for women entrepreneurs.
• Tech-driven finance solutions will enhance access to capital & banking services for women-led MSMEs.
• Bank of Baroda’s exclusive NRI women’s banking products offer premium benefits to female customers abroad.

Source: Business Line