India’s largest bank, the State Bank of India (SBI), launched two products for women on the occasion of International Women’s Day, 2025, on March 8, 2025. The ‘SBI Asmita’ is a collateral-free digital loan for women-led micro, small, and medium enterprises (MSMEs), while the ‘Nari Shakti’ is a platinum debit card that aims to increase financial inclusion and entrepreneurship among women.
SBI chairman Challa Sreenivasulu Setty said in an official release: “SBI Asmita is crafted with the vision of providing faster and easier finance to women-led MSME units through a digital and self-initiated process. This solidifies our position as the leading MSME lender for women entrepreneurs.”
Key Features of ‘SBI Asmita’
The ‘SBI Asmita’ loan product is made exclusively for women entrepreneurs. It comes with a low-interest funding with a fully digital application process. SBI Asmita will utilise advanced APIs.
The platform automates data verification using GSTIN, bank statements, and credit bureau records, thus eliminating the need for physical documentation. Additionally, top-performing borrowers will receive entrepreneurial and management training to scale their businesses.
‘Nari Shakti’ Platinum Debit Card
In addition to the loan, SBI launched the ‘Nari Shakti’ RuPay debit card, tailored to women’s lifestyle needs. The card, made from 100 per cent recycled plastic, offers benefits across shopping, travel, entertainment, insurance, and more.
Vinay Tonse, managing director, retail banking and operations, SBI said, “This card is a step toward progress, inclusion, and convenience, aligning with our green initiatives.”
SBI’s Financial Result
SBI’s five-year focus is expected to remain on MSME growth and women’s empowerment. The bank announced that ‘SBI Asmita’ will streamline working capital and term loans digitally, while the debit card will promote financial independence.
In Q3 FY25, 64 per cent of new savings accounts were opened via YONO, SBI’s digital ecosystem, which already boasts of 84.50 million users. The bank disbursed Rs 1,631 crore in pre-approved personal loans digitally during the same period.
SBI also recently announced its financial results for the three-month quarter ending in December 2024. The bank reported a drastic 83 per cent year-on-year (y-o-y) rise in standalone net profit to Rs 16,891 crore. Meanwhile, on a quarter-on-quarter (q-o-q) basis, the figure stood at 7.8 per cent lower, at Rs 18,331 crore as against the corresponding period year ago. The net interest income for third quarter stood at Rs 41,445.51 crore compared to Rs 39,815.73 crore, up 4 per cent on a yearly basis.
