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Business News

Jan 20, 2020
1:12PM

Rs 70,000 crore loan amount has been disbursed till Jan 13 under MSMEs scheme: Govt

msme.gov.in
The Finance Ministry has said that a loan amount of nearly seventy thousand crore rupees has been disbursed till 13th of this month under the scheme of providing loan to Micro Small and Medium Enterprises - MSMEs within 59 minutes.

The Ministry tweeted that out of the 2.73 lakh applications received, 2.19 lakh applications have been approved. It said, for ease of access to credit for MSMEs, the government has introduced loan provision to MSMEs through a dedicated online portal- www.psbloansin59 
minutes.com. The portal acts as a single interface portal which facilitates in principal approval of bank loans to Micro Small and Medium Enterprises upto five crore rupees within 59 minutes.

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