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The country's largest bank SBI has taken a new initiative. This will make the process of taking loan from the bank easier for farmers. At the same time, the risk in the loan of this segment will also be reduced for State Bank of India (SBI). Along with this, the bank has also announced the expansion of its digital services and giving special loan for PM Surya Ghar Free Electricity Scheme.

State Bank of India on the occasion of its 69th Foundation Day has announced 11 such initiatives to enhance the banking needs of existing as well as new potential customers and to broaden the reach of SBI.

The risk of agricultural loan will decrease

Public sector State Bank of India (SBI) says that it is going to open 35 new agriculture centralized processing cells across the country. These cells assess the loans to be given to farmers and then based on their recommendations, the bank allocates the loan. This helps the bank in reducing the risk associated with agriculture loans. Also, the process of getting the loan approved gets faster.

Digital payment services will improve

With this, SBI has made its digital banking facilities better than before. Now SBI customers will get a better experience of digital payment. The bank has included two features like tap-and-pay on Bhim SBI Pay app and end-to-end digital loan for mutual funds on Yono app.

Apart from this, SBI has opened the second Global NRI Centre (GNC) in Patiala, Punjab for NRIs who are making significant contribution to the economic growth of the country.

Special loan for PM Surya Ghar Yojana

SBI has now announced to provide loan facility to people for PM Surya Ghar Yojana. The biggest thing in this is that people will get this facility on 'end-to-end' SBI's digital platform. People can take this loan for solar plant up to 10 kW capacity. For this, the entire process from registration to loan disbursement will be completed on the platform of MNRE/REC.