• SENSEX
    NIFTY 50
Business

59-minutes loan scheme yet to make a mark, says SBI's Rajnish Kumar

Updated : August 20, 2019 12:25 PM IST

A businessman having a turnover of up to Rs 25 crore can get an in-principle approval for a loan of up to Rs 5 crore within 59-minutes under the scheme launched by Prime Minister Narendra Modi last November, SBI chairman Rajnish Kumar said.
He said up to 90 percent of MSMEs, which are called the backbone of the economy because of employing the maximum number of people, can get loans under the scheme.
Kumar said the bank is also planning to extend the scheme to car and auto loans because all the loans in this category are in the same quantum.
59-minutes loan scheme yet to make a mark, says SBI's Rajnish Kumar
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