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SBI Launched New Loan Scheme For MSME On Birthday: State Bank of India turned 70 years old today i.e. on 1st July. On this occasion, the bank launched loan facility for small businessmen (MEMEs). Businessmen who have GST number and current account can take loan up to one lakh rupees in 15 minutes.

SBI Launched New Loan Scheme For MSME On Birthday: The country's largest government bank, State Bank of India (SBI) turned 70 years old today. It was established on 1 July 1955. Earlier it was known as Imperial Bank of India. On this occasion, SBI launched a new loan scheme for small businessmen (MSMEs). Under this scheme, you can take a loan of up to Rs 1 lakh in just 15 minutes.

How to get a loan of Rs 1 lakh in 15 minutes

This loan scheme of State Bank is completely digital. That means you will not need to go to the bank for this. The bank has named this scheme 'MSME Sahaj'. This is a completely digital invoice financing service. The businessman who needs a loan will have to upload the necessary documents on the bank's app YONO. The amount will be transferred to the bank account within 15 minutes of getting the loan approval.

You will get loan up to Rs 1 lakh in 15 minutes.

This document is necessary

The bank said that this loan facility will be available to only those SBI businessmen who have GST number. They should also have registered sales invoices. The bank said that the purpose of bringing this scheme is to provide financial help to those small businessmen who are not able to expand their business due to lack of money.

They will get benefit

• To avail this facility, the businessman must have GST number and sole proprietorship firm.
• The businessman should have a current bank account in SBI.

History of SBI: Many names changed one after the other 

State Bank was started on 2 June 1806. At that time it was known as Bank of Calcutta. Its name changed after about 34 years. On 15 April 1940, its name became Bank of Bombay. After 3 years, the name changed again. On 1 July 1843, its name became Bank of Madras. This name remained for about 78 years. On 27 January 1921, its name was changed again and it became Imperial Bank of India. Its name remained the same for many years after independence. On 1 July 1955, its name became State Bank of India.

Market cap is Rs 7.51 lakh crore

SBI is the largest PSU bank in the country. It is also one of the best banks in the world. Currently, it has more than 22 thousand branches and more than 60 thousand ATMs across the country. It has around 45 thousand customers. The market cap of this bank is Rs 7.51 lakh crore. The bank is listed in the share market. Currently, the price of one of its shares is Rs 842.80. Its shares have given a return of about 128 percent in the last 5 years.