The State Bank of India (SBI) has set a new standard in digital lending, facilitating loans worth Rs 74,434 crore to 2.25 lakh Micro, Small and Medium Enterprises (MSMEs) within just one hour. This feat was achieved through the bank's innovative SME Digital Business Loans platform over the past 15 months.

Launched in June 2024, SME Digital Business Loans allows MSME entrepreneurs to apply online for credit up to Rs 5 crore. This product is pivotal for SBI's growth strategy focusing on MSME advances for the next five years. It represents a significant advancement in digital banking, offering a loan processing and approval turnaround of up to 45 minutes.

SBI's digital platform utilizes advanced technology and an ecosystem of APIs to streamline loan processes. By leveraging authentic data f

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