PSBs approve loans worth over Rs 37,400 cr for MSME sector

Public sector banks have approved more than 1.12 lakh loan applications of MSMEs worth of 37,412 crore rupees under the '59 minutes' loan scheme launched by the government last month. GST-registered Micro, Small and Medium Enterprises (MSMEs) can take loan up to one crore in just 59 minutes through 'psbloansin59minutes.com' portal. In a written reply to a question in the Lok Sabha, Union Minister of State for Finance Shiv Pratap Shukla said that as on 25th of ...