SBI launches new scheme for fashion boutique owners

The country’s largest lender State Bank of India (SBI) has launched a financing scheme for women fashion boutique owners.

Labelled ‘boutique financing’, the scheme is designed to offer working capital expenses as well as term loan for boutique owners.

Chief General Manager of SBI (Bengal Circle) Sunil Srivastava said the bank has identified the growth potential of the segment.

He said the bank would give loans at a concessional interest rate and the maximum loan to be made available would be Rs 50 lakh for a period of seven years.

Owners would also get overdraft facilities, he added