Mumbai, Oct 10 (UNI) Banks have processed a total number of SME Digital Loans to the tune of 2.25 lakh accounts up to August 2025 with aggregate credit limits of Rs 74,434 crore since the launch of the digital journey, an official statement said today.
It also includes processing of 67,299 MSME Mudra loans amounting to Rs 3,242 crore, the statement said.
’MSME Mudra Loans’ are credit facilities offered under the Pradhan Mantri Mudra Yojana (PMMY) to non-corporate, non-farm small and micro enterprises in manufacturing, trading and services sector.
State Bank of India (SBI) had launched ‘SME Digital Business’ loans during 2023-24, which enables the MSME entrepreneur to apply online for credit requirements up to Rs 5 crore.
It leverages cutting-edge technology and a robust ecosystem of APIs to streamline the lending process. Simply, the bank has developed a data-driven credit-assessment engine capable of providing sanction decisions within a remarkable ten seconds after submitting the required details, without any human intervention.
MSME advances have been identified as the focal point for the Bank’s growth and profitability over the next five years, and this innovative product marks a significant leap forward in digitalization by offering SMEs a digital loan journey with an end-to-end sanction turnaround time of up to 45 minutes, the statement said.
The Digital MSME loan product eliminates the need for traditional credit underwriting and lengthy appraisal processes, ushering in a new era of simplicity, speed, and accessibility in MSME lending.
With a steadfast commitment to supporting the growth and aspirations of millions of MSME units across the country, SBI has been a pioneer in the MSME lending space.
The bank’s commitment to promote this segment is evident as it registered 19 percent credit growth in the SME Segment as on March 31.
On this massive success, SBI’s MD (R&DB) said, “ SBI’s unwavering focus on MSMEs extends beyond SME Digital Business Loans, with the bank digitizing the Mudra product and automating the collateral-free process for loans under CGTMSE cover. These initiatives underscore SBI’s commitment to broadening credit access and fostering the growth of MSMEs, driving economic prosperity and resilience.”
This innovative offering will be readily accessible to customers through all channels of the bank, including its website, branches, SME Centres, as well as Internet platforms.
