Added on : 2018-11-02 18:09:41
Prime Minister Narendra Modi on Friday launched the Micro, Small and Medium Enterprises (MSME) Support and Outreach Programme on Friday to enhance credit access to the sector.
Speaking at the launch of Support and Outreach Initiative for MSMEs at Vigyan Bhawan in New Delhi, PM Modi announced the national roll out of online platform for MSME credit which will enable businesses to get loans upto Rs 1 crore within just 59 minutes. The Portal reduces the loan processing turnaround time from 20-25 days to 59 minutes. Subsequent to this in principle approval, the loan will be disbursed in 7-8 working days.