SBI launches online quick loan solution for MSMEs

Daily Current Affairs / SBI launches online quick loan solution for MSMEs

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Category : Business and economics Published on: July 05 2024

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The State Bank of India (SBI) launched "MSME Sahaj," an online loan solution tailored for MSMEs, offering quick access to loans up to ₹1 lakh against GST-registered sales invoices.
This initiative is facilitated through SBI's digital platform Yono, ensuring swift processing and automated credit assessments.
MSME Sahaj aims to address cash flow challenges faced by micro SME units by providing timely financial support based on their GST filings.
The initiative is designed to streamline loan disbursal processes and promote financial inclusion among MSMEs through efficient digital solutions.

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SBI launches online quick loan solution for MSMEs