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

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).

• 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

Answer: B) 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).