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The loan application process<\/a> is made seamless and can be done online by just uploading bank statements, and IT Returns. The data-driven platform then pulls in credit-related information at the backend and runs a financial health analysis on the overall business of the applicant. The platform is enabled to auto-generate an e-offer letter if the lending criteria is met. For select locations, DBS offers a Relationship Manager (RM) – initiated self-serve as well as an RM-assisted credit application on the DBS Digital Business Loans platform.<\/p>\n Commenting on the offering, Niraj Mittal<\/a>, Managing Director & Country Head -Institutional Banking Group, DBS Bank<\/a> India, said, \u201cDBS Digital Business Loans proudly underscores the bank’s commitment to supporting lives and livelihoods. We are attempting to leverage the true potential of our online credit platform, and have continued to disburse credit, even amidst the lockdown. DBS has also been offering the ‘Guaranteed Emergency Credit Line’ scheme in line with the government’s Covid-19 relief efforts.\u201d<\/p>\n The bank has completed the pilot run for the DBS Digital Business Loans platform in a number of major cities. Loans worth Rs 1,000 crore have already been disbursed via the platform to various businesses. DBS bank is planning to expand their customer base by offering the online credit platform to businesses in Gurugram, Noida, Navi Mumbai,Ahmedabad, Vadodara, Rajkot, Hyderabad, Coimbatore, Ludhiana, Jaipur, Nagpur, and Bhubaneswar.<\/p>\n \u201cThrough this platform, we are sanctioning e-loan<\/a> offers in a matter of hours, significantly faster than the current market standard of over a week. We require minimal documentation for our decisioning and have even disbursed loans, end-to-end, in under 10 days*. The process is completely transparent, and the borrower can check the status of their loan application online, anytime,\u201d said Sudarshan Chari<\/a>, Head -Business Banking, DBS Bank India.<\/p>\n<\/div>\n