State Bank of India unveils financing scheme for women boutique owners

State Bank of India (SBI) has launched ‘Boutique Financing’, a financing scheme for women fashion boutique owners. The scheme is designed to offer working capital expenses as well as term loan to boutique owners. Under the scheme, the bank would give loans at concessional interest rates and the maximum loan to be made available would be Rs 50 lakh for a period of seven years. Besides, the owners would also get overdraft facilities. Besides, the bank has also launched three digital banking facilities for the convenience of its customers. Two at the customer’s door step using TAB banking - one for customers opening Savings Bank accounts and another for Housing Loan applicants. The third one is e-KYC (Know your Customer).