SBI, Bank of Baroda Announce Special Schemes for Women on Women’s Day
SBI, Bank of Baroda Announce Special Schemes for Women on Women's Day
Ahead of International Women’s Day 2025, the State Bank of India (SBI) has announced a major initiative for women entrepreneurs. The bank has introduced ‘Asmita’, a special loan product offering collateral-free loans at low interest rates to help women start and expand their businesses.
SBI Chairman CS Shetty stated that this new scheme will make it easier for women-led micro, small, and medium enterprises (MSMEs) to access funding. SBI Managing Director Vinay Tonse described the initiative as a blend of technological innovation and social equality.
In addition to the loan scheme, SBI has also launched the ‘Nari Shakti’ Platinum Debit Card, designed specifically for women.
Along with SBI, Bank of Baroda (BoB) has also announced a special savings account for women of Indian origin. Named ‘BoB Global Women’s NRE & NRO Savings Account’, this account offers higher interest rates on deposits, lower processing fees on home and vehicle loans, and discounts on locker rentals.
BoB has also upgraded its Premium NRE & NRO Savings Account, adding several new benefits. These include higher transaction limits, a customized debit card, complimentary airport lounge access (domestic and international), free safe deposit lockers, and personal and air accident insurance coverage.
Both banks have launched these initiatives to support women’s financial independence and entrepreneurship. The schemes aim to empower women with better financial services and encourage their participation in business and investment.
