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SBI Launched “MSME-Sahaj” Web-Based Digital Business Loans Solutions for MSMEs

Published on July 03, 2024
Current Context: The State Bank of India (SBI) has introduced “MSME Sahaj”, a web-based digital business loans solution specifically designed for micro, small, and medium enterprises (MSMEs).
SBI Launched “MSME-Sahaj” Web-Based Digital Business Loans Solutions for MSMEs
  • Here are the key features:
    • Invoice Financing: MSME Sahaj allows SBI customers to avail finance against their Goods and Service Tax (GST) registered sales invoices.
    • Quick Process: The entire loan process, from application to documentation and disbursement, takes less than 15 minutes.
    • Automated Closure: The system automatically handles the closure of the loan on the due date.
    • Data-Driven Assessment: MSME Sahaj uses a machine learning model and authentic data from GST Identification Numbers, customers’ bank statements, and credit information companies.
    • Unlocking Cash Flows: By providing immediate working capital credit, this solution addresses liquidity issues for MSMEs.

Question:

1 What type of business is MSME Sahaj designed for?

  • A) Large corporations
  • B) Micro, small, and medium enterprises (MSMEs)
  • C) Individual consumers
  • D) Non-profit organization
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