Current Affairs - Banking - Discussion

The State Bank of India (SBI) introduced a special collateral-free personal loan scheme for Agniveers on the occasion of India’s 79th Independence Day. Under this initiative, Agniveers holding an SBI salary account can borrow up to ₹4 lakh with zero collateral, zero processing fee, and a flat interest rate of 10.50%. The repayment tenure is aligned with the Agnipath scheme, ensuring flexibility for beneficiaries after service. Alongside, SBI also revised its IMPS fee structure, imposing nominal charges on online transfers above ₹25,000 while continuing to offer exemptions for certain account holders. These measures strengthen SBI’s support for defence personnel and digital banking users.