State Bank of India (SBI) has launched two new initiatives, “SBI Asmita” and “Nari Shakti” platinum debit card, to promote women empowerment and entrepreneurship. SBI Asmita is a collateral-free digital loan with a low-interest rate, specifically designed for women entrepreneurs. The loan is backed by advanced technology, which uses APIs to streamline the lending process and eliminate physical document verification. Additionally, the bank will provide top women entrepreneurs with entrepreneurial and management training to help them grow their businesses.
The “Nari Shakti” platinum debit card is a RuPay-powered card designed exclusively for women, made from 100% recycled plastic. It offers features such as entertainment, shopping, travel, and lifestyle benefits, among others. The launch of these initiatives is part of SBI’s commitment to women empowerment and its goal to accelerate action on women’s issues.
SBI’s Chairman, Challa Sreenivasulu Setty, said that SBI Asmita is a significant step towards providing faster and easier access to finance for women-led MSME units. He emphasized the bank’s focus on innovation and customer-centricity to revolutionize the MSME lending space, with a special focus on women entrepreneurship.
MD – Retail Banking & Operations, Vinay Tonse, noted that SBI Asmita offers a unique proposition to micro-SME units to fulfill their business requirements through digital mode. He also highlighted the launch of the “Nari Shakti” debit card, which is more than just a banking product, but also a step towards progress, inclusion, and convenience.
SBI’s launch of SBI Asmita and “Nari Shakti” debit card demonstrates its commitment to fostering women empowerment through innovative banking solutions, aligning with the theme of International Women’s Day 2025, “Accelerate Action”. The initiatives are expected to have a positive impact on women entrepreneurship and financial inclusion, ultimately contributing to the growth of the economy.