Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 
News
Home News News and Press Release Month 7 2019 2019 (7) This
← Previous Next →
 

Loans sanctioned in 1,33,448 cases under 59-minutes Scheme to MSME

July 24, 2019
  • Contents

Out of 2,00,660 applications submitted, 1,59,583 applications for loans on the psbloansin59minutes.com portal have been accorded in principle approval since the launch of the portal. Sanctions have been made in respect of 1,33,448 cases. Bank wise details of loans accorded in principle approval and sanctioned by banks since launch of the portal as on 17th July, 2019 is given in the Annexure.

Government and RBI have taken several steps to ensure access of credit to MSMEs, which inter-alia, include, advice to all Scheduled Commercial Banks (SCBs) to achieve a 20% year-on-year growth in credit to Micro and Small Enterprises (MSEs), allocation of 60% of the MSEs advances to the micro enterprise accounts, a 10% annual growth in number of micro enterprise accounts, additional working capital limit to meet the requirements arising due to unforeseen/seasonal increase in demand, adoption of one cluster, operationalising at least one specialised MSME Branch in every district, simplified computation of working capital of MSE units to make it minimum 20% of the projected annual turnover of the unit for borrowal limits upto ₹ 5 crore, setting up of Trade Receivables Discounting System (TReDS) to solve the problem of delayed payment of MSMEs, etc.         

In addition, Government launched a “Support and Outreach Programme for MSMEs” on 2nd November, 2018. The programme, inter-alia, included initiatives for MSMEs on access to credit such as through the psbloansin59minutes portal, access to market, technology upgradation, ease of doing business, social security for MSME sector employees etc.

This was stated by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs in a written reply to a question in Rajya Sabha.

Annexure

Details of loans sanctioned by Banks under psb loans portal till 17.07.2019

Sr. No.

Bank

Online (Market Place + Bank Specfic URL), Offline & Renewal bulk upload

In-Principle

Sanctioned

No.

No.

1

Allahabad Bank

5160

4786

2

Andhra Bank

1671

1118

3

Bank of Maharashtra

2008

927

4

Bank of Baroda

21200

18049

5

Bank of India

15275

12674

6

Canara Bank

8630

7796

7

Central Bank

8399

7585

8

Corporation Bank

2702

2237

9

IDBI

2789

2322

10

IDFC First Bank

10

0

11

Indian Bank

3256

2065

12

Indian Overseas Bank

2738

1780

13

Kotak Bank

19

0

14

Oriental Bank of Commerce

6793

5201

15

Punjab National Bank

10626

7810

16

Punjab & Sind Bank

2950

2458

17

State Bank of India

36353

32642

18

SIDBI

375

102

19

Syndicate bank

1109

646

20

UCO Bank

2936

2084

21

Union Bank Of India

18237

16219

22

United Bank of India

2740

2394

23

Vijaya Bank

3607

2553

Total

1,59,583.00

1,33,448.00

*Note: The above data includes data of Private Sector Banks.

Source : Online PSB Loans Ltd.

 

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Blog || Site Map - Recent || Site Map || ||