How Many Digital Loans Has SBI Processed Under the 'SME Digital Business Loans' Scheme?
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Synopsis
The State Bank of India has made significant strides in the digital loan sector, processing 2.25 lakh loans worth Rs 74,434 crore under its SME Digital Business Loans scheme. This initiative not only simplifies access to credit for MSMEs but also showcases SBI's commitment to fostering economic growth and resilience.
Key Takeaways
- 2.25 lakh digital loans processed by SBI.
- Total credit amount of Rs 74,434 crore.
- Quick sanction decisions in 10 seconds.
- End-to-end processing time of 45 minutes.
- Loans up to Rs 50 lakh available without financial statements.
New Delhi, Oct 10 (NationPress) The State Bank of India (SBI) has successfully processed 2.25 lakh digital loans for SMEs by August 2025, amounting to a total credit limit of Rs 74,434 crore since the inception of the ‘SME Digital Business Loans’ scheme in FY24, the public sector bank announced on Friday.
This figure includes the processing of 67,299 MSME Mudra loans, which total Rs 3,242 crore.
Launched in 2023-2024, the ‘SME Digital Business Loans’ initiative allows MSME entrepreneurs to apply online for credit needs up to Rs 5 crore.
The bank has pinpointed MSME advances as a crucial area for growth and profitability over the next five years. This innovative offering represents a significant advancement in digitalization, providing SMEs with a digital loan experience featuring an end-to-end sanction turnaround time of up to 45 minutes, as stated by the bank.
The SME Digital Business Loans utilize advanced technology and a comprehensive API ecosystem to enhance the lending process.
By harnessing authentic data footprints from sources like ITR, GST returns, and bank statements, SBI has created a data-driven credit assessment engine that can deliver sanction decisions in an impressive 10 seconds post submission of necessary details, without any human intervention.
According to the bank, "SBI's consistent commitment to MSMEs goes beyond the SME Digital Business Loans, as the bank is also digitizing the Mudra product and automating the collateral-free lending process for loans under CGTMSE coverage."
These efforts highlight SBI's dedication to expanding credit access while promoting the growth of MSMEs, ultimately contributing to economic resilience and prosperity, as the public sector lender emphasized.
The Digital MSME loan product significantly simplifies the lending process, eliminating traditional credit underwriting and lengthy appraisal procedures, thus marking the dawn of a new era characterized by simplicity, speed, and accessibility in MSME lending.
The mechanism is based on cash flow-driven lending, duly considering the financial discipline of the borrower.
For loans not exceeding Rs 50 lakh, SBI has removed the requirement for financial statements, focusing on transaction history and GST returns for the appraisal process, the bank noted.
Point of View
It's essential to recognize SBI's proactive approach in supporting MSMEs through digital innovation. By streamlining the loan process and leveraging technology, the bank not only enhances access to credit but also plays a vital role in bolstering economic resilience across the country.
NationPress
11/10/2025
Frequently Asked Questions
What is the SME Digital Business Loans scheme?
The SME Digital Business Loans scheme by SBI allows MSME entrepreneurs to apply for loans online, offering credit limits up to Rs 5 crore.
How many loans has SBI processed under this scheme?
As of August 2025, SBI has processed 2.25 lakh digital loans under the SME Digital Business Loans scheme.
What is the total credit amount disbursed?
SBI has disbursed a total credit amount of Rs 74,434 crore under the SME Digital Business Loans scheme.
What is the turnaround time for loan approval?
The scheme offers an end-to-end sanction turnaround time of up to 45 minutes.
Are financial statements required for loans up to Rs 50 lakh?
No, for loans up to Rs 50 lakh, SBI does not require financial statements; they rely on transaction history and GST returns.
