Current Affairs - Banking - Discussion

State Bank of India (SBI) launched a new product called 'SME Assist' to provide a short-term working capital demand loan to its Micro, Small and Medium Enterprises (MSME) clients. The loans shall be provided on the basis of clients' input credit claims under Goods and Services Tax (GST), subject to submitting of a certificate from their chartered accountant confirming the input credit claims. This will help clients to manage their working capital requirement till the time they get input credit and will thereby ensure stability in operations.