SBI launches online quick loan solution for MSMEs

State Bank of India (SBI) has launched a web-based digital business loan solution for MSMEs called "MSME Sahaj - End to End Digital Invoice Financing." This new platform streamlines the loan process, enabling MSME units to apply, document, and receive loans against GST-registered sales invoices of up to ₹1 lakh within 15 minutes, with automated closure on the due date. Available through the 'Yono' app, the solution caters to sole proprietorship non-credit customers of SBI with a satisfactory current account. SBI Chairman Dinesh Khara emphasized the initiative's goal to set a new industry benchmark by offering faster, easier, and innovative digital financing solutions for MSMEs.