State Bank of India , which has started approving online retail loans using the data analytics, has received a healthy response from its over 43.5 crore customers.

“We have started the online approval system last month in our bank for all our pre-approved customers and today the bank is approving 2,500 loan proposals every day. The maximum loan amount approved is R 2 lakh,” said Mrityunjaya Mahapatra, Deputy Managing Director and Chief Digital Officer, SBI.