Show Quick Read Summary is AI-generated, newsroom-reviewed

The digital transformation in India's financial sector is enabling faster and broader access to credit, particularly for small and medium enterprises (SMEs), stated State Bank of India (SBI) Chairman CS Shetty at the Global Fintech Fest 2025 on Wednesday.

Highlighting the efficiency of the banking ecosystem, Shetty said, “Today, I am very proud to say that an SME customer with a loan requirement of up to Rs 5 crore can get approval within 25 to 26 minutes. This has been made possible essentially because of the humongous digital landscape we have created in India.”

He emphasized that while usage of financial products such as insurance is gradually increasing, credit delivery through business channels still needs further enhancem

See Full Page