State Bank of India (SBI) on Friday offered a loan without guaranteed with low interest rate to women entrepreneurs. SBI introduced a product called 'Asmita' on the eve of International Women's Day. Its purpose is to give women a low interest rate financing option.

SBI Chairman CS Shetty said that the new offering will give women a quick and easily loan to micro, small and medium units led by women. The bank's managing director Vinay Tons described the new offer as a symbol of technological innovation and social equality.

This scheme started for women

The public sector bank also introduced the 'Nari Shakti' Platinum Debit Card, which has been specially prepared for women. On the other hand, Bank of Baroda on Friday introduced 'Bob Global Women NRE and NRO savings account' for women of Indian origin. In this, customers will be provided facilities like more interest on deposit, low processing fee with housing loan and vehicle loan and locker rent exemption.

Record breaking increase in profits

The country's largest bank SBI's current financial year 2024-25 increased to Rs 84 percent on a single basis in the third quarter to Rs 16,891 crore. The State Bank of India (SBI) had a net profit of Rs 9,164 crore on a single basis in the third quarter (October-December) of the last financial year 2023-24. SBI said in the information given to the stock market, the total income of the bank increased to Rs 1,28,467 crore in the third quarter of the current financial year, which was Rs 1,18,193 crore in the same period of the last financial year. In the quarter under review, the bank's interest income increased from Rs 1,06,734 crore to Rs 1,17,427 crore on an annual basis.

Decline in NPA

On the asset quality front, the bank saw the improvement and gross non-performing assets (NPAs) came to 2.07 per cent at the end of December 2024, which was 2.42 per cent last December 2023. Similarly, pure non-performing assets (NPAs) also declined from 0.64 per cent to 0.53 per cent on an annual basis. At the same time, the integrated net profit of SBI Group increased from Rs 11,064 crore to Rs 18,853 crore on an annual basis during this period. Integrated total income increased from Rs 1,53,072 crore to Rs 1,67,854 crore in the third quarter.