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.