SME Times is powered by   
Search News
Just in:   • CM woos global investors, aims to help Karnataka rural economy  • Adani Capital acquires Essel Finance's MSME loan business  • SMEs get relief as cut-off date for monthly GST returns extended  • FIEO calls for more benefits for MSME exporters  • L&T's Q3 consolidated net profit up 16.5% 
Last updated: 23 Jul, 2019  

msme-THMB-2010.jpg Loans sanctioned in 1,33,448 cases under 59-minutes scheme to MSME

MSME.9.jpg
   Top Stories
» SMEs get relief as cut-off date for monthly GST returns extended
» FIEO calls for more benefits for MSME exporters
» Slowdown to affect insurance sector: Report
» Budget may offer production incentives for fabless chip cos
» 45% SMEs against Centre's right to seek customer, supplier data
SME Times News Bureau | 23 Jul, 2019

Out of 2,00,660 applications submitted, 1,59,583 applications for loans on the psbloansin59minutes.com portal have been accorded in principle approval since the launch of the portal.

Sanctions have been made in respect of 1,33,448 cases, said Minister of State for Finance & Corporate Affairs Anurag Singh Thakur.

Bank wise details of loans accorded in principle approval and sanctioned by banks since launch of the portal as on 17th July, 2019 is given in the Annexure, the minister added

Government and RBI have taken several steps to ensure access of credit to MSMEs, which inter-alia, include, advice to all Scheduled Commercial Banks (SCBs) to achieve a 20% year-on-year growth in credit to Micro and Small Enterprises (MSEs), allocation of 60% of the MSEs advances to the micro enterprise accounts, etc.

Some other measures include a 10% annual growth in number of micro enterprise accounts, additional working capital limit to meet the requirements arising due to unforeseen/seasonal increase in demand, adoption of one cluster, operationalising at least one specialised MSME Branch in every district, simplified computation of working capital of MSE units to make it minimum 20%, etc.         

In addition, Government launched a “Support and Outreach Programme for MSMEs” on 2nd November, 2018.

The programme, inter-alia, included initiatives for MSMEs on access to credit such as through the psbloansin59minutes portal, access to market, technology upgradation, ease of doing business, social security for MSME sector employees etc.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 23 Jan, 2020
  Daily Poll
Ease of doing business improved in last one year
 Yes
 No
 Can't say
  Commented Stories
» MRF to set up a new plant in Gujarat(3)
» MSME: Budget expectations(1)
» China's forex reserves reach USD 2.85 trillion(1)
» 'Capital Adequacy Ratio' above regulatory norms: Yes Bank(1)
» KVIC opens first silk processing plant in Gujarat(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter