Now, MSMEs to get Rs 5 crore loan in just 59 minutes
Updated : July 23, 2019 01:13 PM IST
Five of the largest banks – State Bank of India, Union Bank of India, Oriental Bank of Commerce, Corporation Bank, Andhra bank – are the first ones to offer in-principle loan approval up to Rs 5 crore on the platform.
The Centre launched the platform to provide necessary financial assistance to MSME borrowers without the hassle of knocking on banks and waiting in line for the approval. Earlier, the in-principle loan amount was set at Rs 1 crore.
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.
THANK YOU! You made our day. See you every morningYOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
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