Mumbai, 2nd September 2025: Bank of Baroda, a well-known public sector bank, has launched a new scheme called bob Digi Udyam for Micro and Small Enterprises (MSEs) to get loans quickly without collateral. They can borrow amounts ranging from ₹10 lakh to ₹50 lakh.
This initiative supports the recent announcement in the Union Budget 2024–25, where it was stated that public sector banks would improve their own lending to assess loans for small businesses. By using the digital information available from these businesses, the bank can make faster decisions on loans and depend less on outside help for assessments.
The scheme is designed to offer quick access to working capital for MSEs through digital and cash-flow-based credit assessments.
The scheme offers loans between ₹10 lakh to ₹50 lakh with a tenure of 12 months, offering Cash Credit and Overdraft facilities.
The scheme offers collateral-free loans backed by the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
bob Digi Udyam utilises a digital scorecard based on a wide array of digital data points for quick risk assessment. Successful applicants get a provisional sanction in minutes, followed by final processing via BoB’s TEJAS loan origination system for branches.
How To Apply:
Applications are available both online and in-branch. The scheme is available for new and existing Bank of Baroda MSE customers.
Interested people can visit the nearest Bank of Baroda branch or log in via their MSE banking portal to explore the bob Digi Udyam platform. Watch out for eligibility prompts and initiate the simple online DIY process or ask for assistance at a branch.
bob Digi Udyam aligns with the Government of India and Reserve Bank of India’s vision for digital transformation in MSE lending.
