SBI plans UPI data tool to assess small business creditworthiness

State Bank of India (SBI) is developing a solution to use UPI data as a proxy to assess a small business entity’s creditworthiness in the absence of GST registration, a top official said on Friday.

The country’s largest lender is confident of providing end-to-end digital loans within a day for such borrowers, its Managing Director Ashwini Kumar Tewari said here, adding that this will help assuage concerns about such businesses being left outside formal finance.