The four cheers for MSMEs in the Finance minister's statement to boost Indian Economy.
A) Higher credit availablility: • Co-origination of #loans by PSBs jointly with NBFCs: PSBs to fast track collaboration for loans to MSMEs, small traders Self Help Groups in coorigination mode with NBFCs • Additional Credit expansion through PSBs Upfront release of Rs. 70,000 Cr., additional lending and liquidity to the tune of ~ Rs 5 Lakh crore by providing upfront Capital to #PSBs B) #Cashflow protection: • GST Refund within 30 days: In future all #GST refunds shall be
More than two-third loan requests approved under Modi govt’s 59 minute loan portal
Prime Minister #Narendramodi's push to provide fast and easy credit to #SMEs seems to be working as two-third loan applications filed on the government portal for granting loans in less than an hour are being approved. Nearly 80% of more than 2 lakh applications filed on the psbloansin59minutes.com were approved in principle. #sme #msme #msmes #smesector #loans #banking #smelending #smb hashtag#smbs #smallbiz #smallbusiness