SBI Asmita

Why in News?

State Bank of India has launched 'SBI Asmita' to help women entrepreneurs expand their businesses.

SBI Asmita:

• It is a digital, collateral-free SME loan product.
• The scheme helps encourage women entrepreneurs and boost their businesses.
• It aims to help women entrepreneurs grow their businesses and become financially independent.
• Features:
  • Loans available without guarantee
  • Interest rates lower than normal loans
• Through SBI Asmita, user's data footprints like GSTIN, bank statements, Credit Information Company (CIC) data base, etc. can be automatically obtained and verified.
  • This will almost eliminate the need for physical verification.
• SBI will identify top women entrepreneurs who will avail 'SBI Asmita' loan.
  • These women will also be given training in entrepreneurship and management.
• 'Nari Shakti' platinum debit card has also been launched by SBI.
  • This card is made of 100% recycled plastic.

State Bank of India (SBI):

• It is the largest public sector bank in India.
• It is one of the oldest and most trusted banks in the country.
• It was founded in 1806 as 'Bank of Calcutta'.
• In the year 1955, it was nationalized and named as 'State Bank of India'.
  • Headquarters: Mumbai, Maharashtra
  • Ownership: Government of India