• SENSEX
    NIFTY 50
Economy

MSME loans in 59 minutes: Easier said than done

Updated : January 02, 2019 12:11 PM IST

Fresh concerns have emerged over the efficiency of the scheme itself, with multiple complainants on social media saying that while they paid the application fee and got an in-principle approval, banks have either refused to sanction the loans nor have asked for collateral.
Applicants reported being turned down by banks because of inadequate CIBIL scores despite the portal deeming them fit to receive funds.
According to banking sources, the portal had granted in-principle approvals to 31,000 applicants out of 60,000.
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Live TV