Punjab & Sind Bank has unveiled plans to launch a digital instant loan scheme tailored for micro, small, and medium enterprises (MSMEs), offering loans up to ₹25 lakh. Set to debut this month, the initiative is part of the bank’s ongoing effort to expand its digital lending capabilities and streamline the credit delivery process.

The new MSME loan offering will use the bank’s digital platform to assess applicants based on their cash flows, GST returns, digital footprints, and account statements. According to Executive Director Ravi Mehra, the loan application and approval process will be automated using a Straight Through Process (STP) integrated with a Business Rule Engine (BRE), ensuring quicker processing with minimal human intervention and reducing delays.

Following the success of similar digital offerings for home and vehicle loans—PSB e-Apna Ghar and PSB e-Apna Vahan—launched last month, which enable in-principle approvals within 15 minutes, the bank is now focusing on providing MSME borrowers with comparable benefits.

Additionally, the bank is preparing to roll out digital services for Kisan Credit Card (KCC) renewals and sanctions for farmers next month. This will provide collateral-free loans up to ₹2 lakh. Loans under the Pradhan Mantri MUDRA Yojana (PMMY), up to ₹50,000, will also be offered digitally.

These initiatives are part of Punjab & Sind Bank’s broader strategy to digitize its lending processes, offering enhanced accessibility to underserved sectors, including MSMEs and farmers. By leveraging data-driven assessments and automation, the bank aims to minimize risks, improve customer experiences, and boost credit penetration, in line with the government’s drive for digital transformation in banking.