New Delhi,  Sep 5 (KNN) Tata Capital, the financial services arm of the Tata Group, has launched version 2.0 of its digital platform to provide faster and easier loans to Micro Small and Medium Enterprises  (MSMEs) and small businesses.

In a press release, the company said that with this enhanced digital platform, MSMEs can avail loan up to Rs 2 crore within 48 hours with minimal documentation under various categories.

Besides this,  MSME customers can also avail loans up to Rs 50 lakh within four hours again with minimal documentation which makes it 90 percent faster and simpler, Tata Capital added.

The newly added version will offer series of value added features like automated credit scoring engine across all loan products,  digital underwriting capabilities using over 1000 data points and seamless integration with host ofvthird party information sources such as PAN,  Aadhar etc. 

Commenting on this development, Chief Marketing and Digital Officer,  Tata Capital said, “As we enhance our existing digital SME offering, the approval process has become significantly faster with minimal data entry and documentation."