The State Bank of India (SBI), the country’s largest public sector bank, has introduced a remarkable initiative for women entrepreneurs. SBI has launched a new low-interest, unsecured loan scheme designed specifically to support women-led businesses. This new offering, called ‘Aasmita,’ was introduced on the eve of International Women’s Day, with the aim of providing affordable financial support to women entrepreneurs.
SBI Chairman’s Statement
SBI Chairman CS Shetty highlighted that the ‘Aasmita’ scheme is designed to offer fast and hassle-free loans to women-led micro, small, and medium enterprises (MSMEs). According to him, this initiative will encourage more women to step into the entrepreneurial world with easier access to funding. Meanwhile, Bank Managing Director Vinay Tonse described the ‘Aasmita’ scheme as a significant step in promoting technological innovation and social equality.
To further empower women, SBI also launched the ‘Nari Shakti’ platinum debit card. This RuPay-powered card is exclusively designed for women, providing them with added financial convenience and benefits.
Bank of Baroda’s New Offering
In a similar move, Bank of Baroda introduced the ‘Bob Global Women NRE and NRO Savings Account’ for Indian-origin women. This new account offers numerous benefits, including higher interest rates on deposits, home loans with reduced processing fees, auto loans, and discounts on locker rentals.
Bina Waheed, Executive Director at Bank of Baroda, stated that the ‘BOB Global Women NRE and NRO Savings Account’ acknowledges the evolving role of global Indian women. This product aims to empower them by offering exclusive banking privileges and tailored features.
Bank of Baroda’s enhanced BOB Premium NRE and NRO Savings Account offers various perks such as customized debit cards with increased transaction limits, complimentary access to domestic and international airport lounges, free safe deposit lockers, and comprehensive personal and air accident insurance coverage.
