Bank of Baroda launches ‘bob Digi Udyam’ financing scheme for MSEs

Mumbai: Bank of Baroda has launched bob Digi Udyam, a fully digital, collateral-free lending platform designed to provide Micro and Small Enterprises (MSEs) with swift access to working capital loans ranging from Rs 10 lakh to Rs 50 lakh.

The initiative is in line with the Union Budget 2024–25 announcement encouraging public sector banks to develop in-house capabilities for MSME credit assessment. By leveraging the digital footprint of enterprises, the platform aims to streamline credit evaluation and reduce dependence on external assessment, thereby enhancing credit accessibility for small businesses. The scheme is open to both new and existing customers.

The bob Digi Udyam platform draws on diverse digital data points to create an automated, risk-based scorecard that enables quick credit assessment. Applicants receive a provisional sanction within minutes, after which the request is routed to branches via TEJAS, the Bank’s MSME Loan Origination & Processing System, for final approval and post-sanction procedures.

MSEs can apply through a Do-it-Yourself (DIY) mode or with assistance at branches. The platform undertakes digital eligibility checks, risk evaluation, and credit limit calculations to ensure a transparent and efficient lending experience.

bob Digi Udyam – At a Glance: (1) Purpose: Digital, cash flow-based working capital finance, (2) Facilities: Cash Credit & Overdraft, (3) Loan Size: Rs 10 lakh–Rs 50 lakh, (4) Tenure: 12 months, and Collateral: Nil (covered under CGTMSE). Applications can be made online at https://mllps.bankofbaroda.co.in/BOBSTPCustomerPortal/