New Delhi, Dec. 23 -- Axis Bank launches Digital Merchant Cash Advance Loans for MSMEs. According to a release from Axis Bank, this new service provides unsecured loans to micro and small businesses across the country. These loans range from Rs 2 lakh to Rs 20 lakh. This is the first of its kind in the industry and focuses on the daily cash flow of a business. It is designed to help small merchants, like retail shops, get the money they need quickly for their daily work.

The bank uses a fully digital process to decide who can get a loan. Instead of looking at traditional financial papers or old statements, the bank uses cash-flow intelligence and other digital data to check eligibility.

This system allows merchants to get a credit decis...