PNB sanctions debt worth ₹689 cr to 1,600 MSMEs via 59minute loan portal
5 years, 10 months ago

PNB sanctions debt worth ₹689 cr to 1,600 MSMEs via 59minute loan portal

Live Mint  

State-owned Punjab National Bank has sanctioned loans worth ₹689 crore to over 1,600 Micro, Small and Medium Enterprises through the psbloansin59minutes.com portal as part of its effort to promote such industries. Under this initiative, the bank has sanctioned loans to over 1,600 accounts with total sanctioned amount of ₹689 crore," PNB managing director Sunil Mehta told PTI. With regard to the Pradhan Mantri Mudra Yojana, Mehta said since the inception of the scheme, PNB has sanctioned loan to over 17.16 lakh accounts with total amount of 21,019 crore till December 31, 2018. "In the current financial year, the bank has offered the loan to over 2.69 lakh accounts with total amount sanctioned being 5,290 crore till February 14, 2019.

Bank Loan Pnb Msmes Worth 689  bank  portal  59minute  sanctioned  msmes  debt  total  cr  sanctions  loans  loan  worth  689  till  crore  pnb

History of this topic

Top 10 MSME Loan Schemes in India for Growth and Expansion
1 week, 2 days ago

Top 10 MSME Loan Schemes in India for Growth and Expansion

India TV News  

Substantial steps have been taken by the Indian government and financial institutions to provide adequate loans for micro, small, and medium enterprises to foster growth without interruption. 3. Credit Guarantee Fund Scheme for Micro and Small Enterprises Small businesses often lack collateral when applying for loans, making them considered high-risk borrowers, which can result in loan application denials. To assist, …

Gross bad assets of government banks fell from 14.58% in Mar 2018 to 3.12% in Sep 2024: Finance ministry
1 month ago

Gross bad assets of government banks fell from 14.58% in Mar 2018 to 3.12% in Sep 2024: Finance ministry

Live Mint  

The government said on Thursday that policy reforms in the financial sector have restored the health of the banking sector, with the gross non-performing asset ratio of public sector banks falling to 3.12% in September 2024 from a peak of 14.58% in March 2018 and 4.97% in March 2015. The marked improvement also saw PSBs record their highest-ever aggregate net …

India: Gross NPAs of PSBs at ₹3.16L Cr, Govt Reports
1 month ago

India: Gross NPAs of PSBs at ₹3.16L Cr, Govt Reports

Deccan Chronicle  

New Delhi: The gross non-performing assets of public sector banks stood at Rs 3.16 lakh crore as of September 30, which is 3.09 per cent of the outstanding loans, while gross NPAs as percentage of outstanding loan is 1.86 per cent in private sector banks, the government said on Tuesday. Informing to the Parliament, minister of state for finance Pankaj …

India: MSMEs Need Boost in Credit Access: Assocham
1 month, 2 weeks ago

India: MSMEs Need Boost in Credit Access: Assocham

Deccan Chronicle  

New Delhi: In order to boost credit access for small and medium businesses in the country, India Inc on Thursday called for enhancing the role of banks and other financial institutions to reach them and address their challenges. Leading industry body Assocham in collaboration with Egrow Foundation, conducted an in-depth study on 'MSMEs facing challenges with a quantitative data of …

Nirmala Sitharaman Says MSMEs Will Get Collateral Free Loans Of Up To Rs 100 Crore Via New Credit Model
Trending News
2 months ago

Nirmala Sitharaman Says MSMEs Will Get Collateral Free Loans Of Up To Rs 100 Crore Via New Credit Model

ABP News  

Union Finance Minister, Nirmala Sitharaman, on Saturday said that a new credit assessment model by public sector banks will be rolled out soon. This model will help the Ministry of Micro, Small and Medium Enterprises get collateral-free loans of up to Rs 100 crore. Speaking at the National MSME Cluster Outreach Programme in Bengaluru, the FM said that the problems …

MSMEs still out of mainstream institutional credit, shows survey
4 months, 4 weeks ago

MSMEs still out of mainstream institutional credit, shows survey

Deccan Chronicle  

Hyderabad: In a downturn when tighter monetary conditions affect governments and companies, small and medium sized businesses bear brunt as the resultant delay in bill payments squeezes these enterprises financially. Though several measures were taken by the government and the Reserve Bank of India, micro, small and medium scale enterprises are perennially starved of institutional credit. Though the government has …

MUDRA loan limit hike, credit guarantee scheme for MSMEs
5 months, 3 weeks ago

MUDRA loan limit hike, credit guarantee scheme for MSMEs

New Indian Express  

NEW DELHI: In their efforts to revitalise the ailing MSME sector, the backbone of the Indian economy and creator of crores of jobs, the NDA government has come up with a slew of reforms. Finance Minister Nirmala Sitharaman on Tuesday informed that the government is increasing the limit for MUDRA loans for Micro, Small and Medium Enterprises from Rs 10 …

How New Mudra Loan Limit Of Rs 20 Lakh Will Support MSMEs, Who Can Avail The Scheme
5 months, 3 weeks ago

How New Mudra Loan Limit Of Rs 20 Lakh Will Support MSMEs, Who Can Avail The Scheme

News 18  

In the Budget 2024, Micro, Small, and Medium Enterprises will now be able avail loans of up to Rs 20 lakh instead of the current Rs 10 lakh under the Mudra scheme, finance minister Nirmala Sitharaman said on Tuesday. During the interim budget presentation earlier this year, the government extended 43 crore loans aggregating to Rs 22.5 lakh crore under …

Bank deposits increase by Rs 24,102cr in quarter
1 year, 4 months ago

Bank deposits increase by Rs 24,102cr in quarter

Deccan Chronicle  

HYDERABAD: Total deposits in banks increased by Rs24,102 crore in the quarter, taking the total deposits to Rs7,07,108 crore, SBI’s chief general manager stated in the State Level Bankers’ Committee meeting on Monday for a review of the quarter ended June 2023. During the first quarter of the current financial year, banks have disbursed short-term production loans amounting to Rs11,929 …

Over 40.82 cr loans sanctioned under MUDRA scheme in last 8 years
1 year, 9 months ago

Over 40.82 cr loans sanctioned under MUDRA scheme in last 8 years

Live Mint  

The government has said that over 40.82 crore loans amounting to ₹23.2 trillion have been sanctioned under Pradhan Mantri MUDRA Yojana since its inception eight years back. Pradhan Mantri MUDRA Yojana was launched on 8 April 2015 by Prime Minister Narendra Modi to facilitate easy collateral-free micro-credit of up to ₹10 lakh to non-corporate, non-farm small and micro-entrepreneurs for income-generating …

Banks sanction ₹23.2 lakh crore to about 41 crore beneficiaries under Mudra Yojana
1 year, 9 months ago

Banks sanction ₹23.2 lakh crore to about 41 crore beneficiaries under Mudra Yojana

The Hindu  

Banks and financial institutions have sanctioned ₹23.2 lakh crore to more than 40.82 crore beneficiaries under the Mudra Yojana launched to fund the unfunded eight years ago. Pradhan Mantri MUDRA Yojana was launched on April 8, 2015, by Prime Minister Narendra Modi to facilitate easy collateral-free micro-credit of up to ₹10 lakh to non-corporate, non-farm small and micro-entrepreneurs for income-generating …

Rs 40,700 cr sanctioned under Stand-Up India Scheme
1 year, 9 months ago

Rs 40,700 cr sanctioned under Stand-Up India Scheme

Deccan Chronicle  

NEW DELHI: As much as Rs 40,710 crore loan has been sanctioned to over 1.8 lakh accounts under the government's flagship Stand Up India Scheme, which is focussed on economic empowerment and job creation, according to official data. Of the funds sanctioned since the inception of the scheme in 2016, about 80 per cent of the loans have been given …

Banks write off loans worth Rs 11.17 lakh crore in last 6 years
2 years ago

Banks write off loans worth Rs 11.17 lakh crore in last 6 years

Deccan Chronicle  

NEW DELHI: Banks have written off Rs 11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22, Parliament was informed on Tuesday. "As per RBI data, public sector banks and scheduled commercial banks wrote off an aggregate amount of Rs 8,16,421 crore and Rs 11,17,883 crore respectively during the last six financial years," …

PM trusted the poor: BJP leader Amit Malviya slams former RBI chief Raghuram Rajan over Mudra Yojana
2 years, 1 month ago

PM trusted the poor: BJP leader Amit Malviya slams former RBI chief Raghuram Rajan over Mudra Yojana

Firstpost  

Calling out former Reserve Bank of India governor Raghuram Rajan in a tweet, BJP leader Amit Malviya claimed that NPAs of the Pradhan Mantri Mudra Yojana - also known as Mudra loan scheme - are lower than the banking sector average 7 years after it was launched by Prime Minister Narendra Modi Amit Malviya on Mudra Loan: BJP leader Amit …

49,608 MSMEs registered in State: Minister
2 years, 4 months ago

49,608 MSMEs registered in State: Minister

The Hindu  

As many as 49,608 micro, small, and medium enterprises have registered in the State till Wednesday, Minister for Industries P. Rajeeve has said. Replying during Question Hour in the Assembly on Wednesday, the Minister said the year 2022-23 was being observed as the ‘Year of Entrepreneurship,’ and the target was to start one lakh MSMEs this financial year. “As part …

PM Mudra Yojana: Rs 18.60 lakh crore sanctioned in loans in 7 years
2 years, 9 months ago

PM Mudra Yojana: Rs 18.60 lakh crore sanctioned in loans in 7 years

Firstpost  

The scheme was launched on April 8, 2015, by Prime Minister Narendra Modi for providing loans up to Rs 10 lakh to the non-corporate, non-farm small/micro-enterprises New Delhi: Union Finance Minister Nirmala Sitharaman on Friday said that more than 34.42 crore loan accounts amounting to Rs 18.60 lakh crore have been opened under Pradhan Mantri Mudra Yojana in the past …

Top 5 government business loan schemes in India in 2022
3 years ago

Top 5 government business loan schemes in India in 2022

India Today  

The Government of India initiates various schemes and policies to bring a change in the economic condition of the country. Here is the list of the top 5 government business loan schemes in 2022: Top 5 government business loan schemes in 2022: MSME Loan Scheme The loan was introduced by the Government of India focusing on the working capital loan …

World MSME Day: 5 Govt-Backed Loan Schemes for SMEs, MSEMs in India
3 years, 6 months ago

World MSME Day: 5 Govt-Backed Loan Schemes for SMEs, MSEMs in India

News 18  

The small-scale business sector, also known as Small and Medium Enterprises sector, contributes around 40% to the total GDP of India. Here are the schemes offered by the government – MSME government business loan scheme – The Government of India launched this scheme as a working capital loan, and an MSME can get a loan sanctioned of Rs. MUDRA business …

RBI Loan Restructuring of up to Rs 50 Cr for MSMEs: Eligibility, Other Criteria
3 years, 7 months ago

RBI Loan Restructuring of up to Rs 50 Cr for MSMEs: Eligibility, Other Criteria

News 18  

In a bid to provide relief amid the second wave of COVID-19 pandemic, Reserve Bank of India announced doubling of loan restructuring limits for micro, small and medium enterprises and small borrowers to Rs 50 crore. “With a view to enabling a larger set of borrowers to avail of the benefits under Resolution Framework 2.0, it has been decided to …

Punjab National Bank Reduces MCLR In Big Relief To Customers
3 years, 7 months ago

Punjab National Bank Reduces MCLR In Big Relief To Customers

News 18  

The state-run Punjab National Bank has reduced the one-year marginal cost of funds-based lending rate by 0.05 percent to 7.30 percent, providing a big relief to its customers. PNB has also asked its customers to get a new checkbook by June 30 as it will be the last day to use the old one. This is a result of the …

Yes Bank aims to disburse ₹10,000 cr retail, MSME loans in Dec quarter
4 years, 1 month ago

Yes Bank aims to disburse ₹10,000 cr retail, MSME loans in Dec quarter

Live Mint  

Yes Bank aims to disburse retail and small business loans worth ₹10,000 crore in the current quarter of the financial year and plans to expand the portfolio to over 60% of its loan book by 2023, a top official said on Tuesday. Following the road map to become a truly digital retail bank, we are innovating constantly to meet these …

Paytm to double loan disbursement to Rs 1,000 cr for MSMEs
4 years, 2 months ago

Paytm to double loan disbursement to Rs 1,000 cr for MSMEs

India TV News  

Financial services platform Paytm on Monday announced to double its loan disbursements for the micro- and small and medium enterprises from Rs 550 crore in last fiscal year to Rs 1,000 crore by March 2021. "With our collateral-free instant loans, we are trying to help kirana stores and other small business owners who have been left behind by the traditional …

Banks Sanctions Rs 1.86 Lakh Cr to 50 Lakh MSMEs Under Credit Guarantee Scheme
4 years, 3 months ago

Banks Sanctions Rs 1.86 Lakh Cr to 50 Lakh MSMEs Under Credit Guarantee Scheme

News 18  

The Finance Ministry on Thursday said banks have sanctioned loans of about Rs 1.86 lakh crore to 50 lakh business units under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme for the MSME sector, impacted by slowdown due to the coronavirus pandemic. "As reported on 29.09.2020, by 12 Public Sector Banks, top 24 Private Sector Banks & 31 NBFCs, …

Rs 10,000 crore Fund of Funds for MSMEs to be operational soon: SBI Chairman
4 years, 5 months ago

Rs 10,000 crore Fund of Funds for MSMEs to be operational soon: SBI Chairman

India TV News  

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday. The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with …

Govt Widens Ambit of Rs 3 Lakh Crore MSME Credit Guarantee Scheme
4 years, 5 months ago

Govt Widens Ambit of Rs 3 Lakh Crore MSME Credit Guarantee Scheme

News 18  

The government on Saturday widened the scope of the Rs 3-lakh crore MSME credit guarantee scheme by doubling the upper ceiling of loans outstanding to Rs 50 crore and including certain individual loans given to professionals like doctors, lawyers and chartered accountants for business purposes under its ambit. The finance minister said that the intended changes are likely to expand …

PSBs sanction ₹19,668 cr loans to 71 MSME hubs under credit guarantee scheme
4 years, 5 months ago

PSBs sanction ₹19,668 cr loans to 71 MSME hubs under credit guarantee scheme

Live Mint  

The Finance Ministry on Friday said public sector banks have sanctioned ₹19,668.87 crore to 71 MSME hubs across the country under the ₹3-lakh crore Emergency Credit Line Guarantee Scheme. "As of July 15, #PSBs have sanctioned loans worth ₹19,668.87 crore for 71 #MSME hubs in 27 States/UTs under the 100% Emergency Credit Line Guarantee Scheme, of which ₹12,871.50 crore has …

PSU lenders are working to help MSMEs get easy loans
4 years, 6 months ago

PSU lenders are working to help MSMEs get easy loans

Live Mint  

Acknowledging that there is a disconnect between lending policies to micro, small and medium enterprises drafted by senior bank officials, and implementation at the branch level, public sector banks are now offering help to business owners to navigate through periods of stress. The MSME sector had a lot of sick units even before covid-related challenges at the operating level and …

PSBs disburse 52% of the loans sanctioned under emergency credit line guarantee scheme
4 years, 6 months ago

PSBs disburse 52% of the loans sanctioned under emergency credit line guarantee scheme

Live Mint  

State-owned lenders have sanctioned loans worth ₹40,416 crore under the emergency credit line guarantee scheme, out of which, 52% of the credit has already been disbursed, as of June 18, the finance ministry said. “As of 18 June 2020, PSBs have sanctioned loans worth ₹40,416 crore under the 100% Emergency Credit Line Guarantee Scheme, out of which ₹21,028.55 crore has …

Govt launches Rs 5,000-cr special credit facility for street vendors; here's all you need to know about Rs 10,000 loan scheme
4 years, 7 months ago

Govt launches Rs 5,000-cr special credit facility for street vendors; here's all you need to know about Rs 10,000 loan scheme

Firstpost  

In order to revive businesses of street vendors that have taken a serious hit due to the COVID-19 lockdown, the Centre has launched a special micro-credit facility amounting to a total of Rs 5,000 crore that will provide them Rs 10,000 as initial working capital In order to revive businesses of street vendors that have taken a serious hit due …

Eligible MSMEs to get offer of pre-approved loan under relief package
4 years, 7 months ago

Eligible MSMEs to get offer of pre-approved loan under relief package

The Hindu  

Eligible MSME borrowers will get an offer from their lending institutions for a pre-approved loan under the ₹3 lakh crore scheme announced for micro, small and medium enterprises to help them deal with the impact of COVID-19. As per a set of FAQs, GECL is a loan for which 100% guarantee would be provided by National Credit Guarantee Trustee Company …

Bank of Maharashtra sanctions Rs 2,789 cr loans to MSMEs, others
4 years, 7 months ago

Bank of Maharashtra sanctions Rs 2,789 cr loans to MSMEs, others

India TV News  

State-owned Bank of Maharashtra on Sunday said it has sanctioned loans worth Rs 2,789 crore to MSME, self-help group, agricultural and retail borrowers to help them meet their liquidity mismatches caused due to coronavirus crisis over the last three months. "We have sanctioned loans amounting to Rs 2,789 crore under agriculture, SHGs, Retail, MSMEs with almost one lakh beneficiaries between …

Bank of Baroda to offer up to Rs 12 thousand crore loans to MSMEs under credit guarantee scheme
4 years, 7 months ago

Bank of Baroda to offer up to Rs 12 thousand crore loans to MSMEs under credit guarantee scheme

India TV News  

State-run Bank of Baroda on Saturday said it can offer up to Rs 12,000 crore in loans to MSMEs under the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme announced by the government. Last week, Finance Minister Nirmala Sitharaman had announced a 100 per cent credit guarantee scheme worth Rs 3 lakh crore to support the medium, small and …

Govt notifies changes in rules disallowing global tender for procurement up to Rs 200 cr; move to benefit MSMEs
4 years, 7 months ago

Govt notifies changes in rules disallowing global tender for procurement up to Rs 200 cr; move to benefit MSMEs

Firstpost  

The government has notified amendments to General Financial Rules to ensure that goods and services valued less than Rs 200 crore are being procured from domestic firms, a move which will benefit MSMEs New Delhi: The government has notified amendments to General Financial Rules to ensure that goods and services valued less than Rs 200 crore are being procured from …

PSBs sanction Rs 6.45 lakh crore loans to support MSMEs, other affected sectors
4 years, 7 months ago

PSBs sanction Rs 6.45 lakh crore loans to support MSMEs, other affected sectors

India Today  

Finance Minister Nirmala Sitharaman’s office on Tuesday said in a tweet that Public Sector Banks have sanctioned Rs 6.45 lakh crore in loans to smaller businesses, retail, agriculture and corporate sectors during from March 1 to May 15. A tweet from Finance Minister Nirmala Sitharaman’s office said, “Loans worth over Rs 6.45 lakh crore were sanctioned by PSBs during March …

Bankers welcome economic package announced by govt, say will encourage lending to MSMEs
4 years, 8 months ago

Bankers welcome economic package announced by govt, say will encourage lending to MSMEs

Firstpost  

The various initiatives announced by the government on Wednesday to support micro, small and medium enterprises will encourage banks to lend more to the sector, bankers said Mumbai: The various initiatives announced by the government on Wednesday to support micro, small and medium enterprises will encourage banks to lend more to the sector, bankers said. “The measures for MSME through …

10 Key Takeaways | FM Nirmala Sitharaman Unveils First Part Of Rs 20 Lakh Cr Economic Stimulus
4 years, 8 months ago

10 Key Takeaways | FM Nirmala Sitharaman Unveils First Part Of Rs 20 Lakh Cr Economic Stimulus

ABP News  

New Delhi: First in the series of press briefings over Prime Minister Narendra Modi's mega 'Atmanirbhar Bharat Abhiyan', Finance Minister Nirmala Sitharam on Wednesday unveiled the details of the special economic package worth Rs 20 lakh crore. For MSMEs needing handholding, Government announced Rs 50,000 crore Fund of Funds through mother fund - daughter fund to expand their capacity and …

Nirmala Sitharaman on Rs 20 lakh crore package: MSMEs to be given Rs 3 lakh crore collateral-free automatic loans, TDS, TCS rates slashed by 25%
4 years, 8 months ago

Nirmala Sitharaman on Rs 20 lakh crore package: MSMEs to be given Rs 3 lakh crore collateral-free automatic loans, TDS, TCS rates slashed by 25%

Firstpost  

On Wednesday, Sitharaman started by saying that she and her team will hold daily press conferences to inform people about a number of responses the Centre has prepared with the aim of bringing the economy back on track. Finance Minister Nirmala Sitharaman on Wednesday held a press conference detailing the Rs 20 lakh crore economic package aimed at creating an …

FM announces Rs 3 lakh crore collateral free automatic loan for MSMEs
4 years, 8 months ago

FM announces Rs 3 lakh crore collateral free automatic loan for MSMEs

Hindustan Times  

Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs. Also units with turnover up to Rs 5 crore to be called micro units, she said, adding a turnover based criteria is being introduced to define small businesses. This will benefit 45 lakh small businesses, she said detailing parts of the …

FM Nirmala Sitharaman announces collateral free automatic loans for MSMEs
4 years, 8 months ago

FM Nirmala Sitharaman announces collateral free automatic loans for MSMEs

India TV News  

As the country battles coronavirus pandemic, Finance Minister Nirmala Sitharaman has announced Rs 3 lakh crores collateral-free automatic loans for Micro Small Medium Enterprises sector. Her press conference came a day after PM Narendra Modi announced stimulus package of Rs 20 lakh crore to rejuvenate Indian economy battered badly due to coronavirus pandemic. Check out details of the announcement made …

Watch: Finance Minister Nirmala Sitharaman briefs media on economic package
4 years, 8 months ago

Watch: Finance Minister Nirmala Sitharaman briefs media on economic package

Op India  

Finance Minister Nirmala Sitharaman addressed media today on the economic package for the Atmanirbhar Bharat Abhiyan. Boost to MSMEs Union Finance Minister Nirmala Sitharaman on Wednesday unveiled the details of the Rs 20 lakh crore economic package under ‘Atmanirbhar Bharat Abhiyan’ announced by Prime Minister Narendra Modi in his address to the nation on Tuesday night. Finance Minister Nirmala Sitharaman …

Finance Minister Nirmala Sitharaman postpones meet with PSB chiefs to later this week
4 years, 8 months ago

Finance Minister Nirmala Sitharaman postpones meet with PSB chiefs to later this week

Firstpost  

Public sector banks have sanctioned loans worth Rs 42,000 crore to the MSME sector and corporates since the start of the lockdown. New Delhi: Finance Minister Nirmala Sitharaman review meeting with CEOs of public sector banks scheduled for Monday afternoon has been postponed. @FinMinIndia — Nirmala Sitharaman Office May 9, 2020 Sitharaman also said state-owned banks have sanctioned loans worth …

Payment of wages by MSMEs: Govt mulls credit guarantee scheme for loans
4 years, 8 months ago

Payment of wages by MSMEs: Govt mulls credit guarantee scheme for loans

India TV News  

As part of a stimulus package for the coronavirus-hit economy, the government is working on a credit guarantee scheme to enable banks to provide additional 10-15 per cent working capital to MSMEs for payment of wages, sources said. Currently, banks are offering an extra line of credit of 10 per cent based on working capital limits, which the government intends …

Public sector banks sanctioned ₹5.66 tn loans during MAR-APR: Finance ministry
4 years, 8 months ago

Public sector banks sanctioned ₹5.66 tn loans during MAR-APR: Finance ministry

Live Mint  

The finance ministry on Thursday said that state-owned banks have sanctioned loans worth ₹5.66 trillion to small businesses, retail, agriculture and corporate sectors during March-April, 2020. The ministry said that there has been sustained credit flow to non-banking financial companies and housing finance companies during the nationwide lockdown, that was imposed to contain the spread of covid-19. In March, it …

SBI to disburse Rs 700 cr to Mumbai circle MSMEs by June-end
4 years, 8 months ago

SBI to disburse Rs 700 cr to Mumbai circle MSMEs by June-end

India TV News  

State Bank of India, the country's largest lender, has set a target of disbursing Rs 700 crore to MSMEs in the Mumbai circle by the end of June, to help them tide over liquidity crisis due to the COVID-19 lockdown. "SBI will boost flow of credit to MSMEs in this challenging period by reassessing their working capital limit and also …

Bad loans of PSBs fall to ₹7.27 lakh crore at end of Sept 2019: Sitharaman
4 years, 11 months ago

Bad loans of PSBs fall to ₹7.27 lakh crore at end of Sept 2019: Sitharaman

Live Mint  

New Delhi: Finance Minister Nirmala Sitharaman on Monday said public sector banks' bad loans came down to ₹7.27 lakh crore at the end of September 2019, on host of measures taken by the government to improve financial health of the banks in the country. "The government has instituted comprehensive reforms in PSBs to improve, governance, underwriting, monitoring and recovery, and …

Nearly 3% of Rs 6 lakh cr loans sanctioned under Pradhan Mantri Mudra Yojana turn NPAs: Govt
5 years, 1 month ago

Nearly 3% of Rs 6 lakh cr loans sanctioned under Pradhan Mantri Mudra Yojana turn NPAs: Govt

Firstpost  

New Delhi: The government on Tuesday said close to 3 percent of Rs 6.04 lakh crore worth of loans sanctioned under the Pradhan Mantri Mudra Yojana has turned into bad loans. Prime Minister Narendra Modi launched the PMMY on 8 April, 2015, for providing collateral-free loans of up to Rs 10 lakh to non-corporate, non-farm small/micro enterprises with a view …

No stressed MSME loan can be declared NPA till March 2020; govt asks banks to hold loan melas in 400 districts from 3 Oct
5 years, 3 months ago

No stressed MSME loan can be declared NPA till March 2020; govt asks banks to hold loan melas in 400 districts from 3 Oct

Firstpost  

Bank loan disbursements to the MSME sector stood at Rs 11.83 lakh crore in 2018-19, as against Rs 8.53 lakh crore done in 2017-18 New Delhi: In a bid to boost lending, the government on Thursday asked public sector banks to hold ’loan melas’ in 400 districts to lend to desirable shadow banks and retail borrowers, and said no stressed …

RBI panel suggests setting up web portal for quick agri loans
5 years, 4 months ago

RBI panel suggests setting up web portal for quick agri loans

Live Mint  

Mumbai: A panel set up by the Reserve Bank of India has suggested that the Indian Banks’ Association introduce a web portal on the lines of PSB Loans in 59 Minutes to allow quicker credit access for the agriculture sector. “IBA should come out with a technology driven portal for the banks to facilitate ease of credit to the farmers …

Banks start approving retail loan proposals on ’PSB Loans in 59 Minutes’ portal
5 years, 4 months ago

Banks start approving retail loan proposals on ’PSB Loans in 59 Minutes’ portal

Live Mint  

According to a statement by PSB Loans in 59 Minutes on Thursday, applicants can now get in-principle approvals from 19 PSBs, including the State Bank of India, Punjab National Bank, Bank of Baroda and Union Bank of India. This will provide the loan aspirants quick and hassle-free access to home and personal loan whether or not they have banking and …

Instamojo disburses ₹110 crore in small loans to MSMEs within a year
5 years, 4 months ago

Instamojo disburses ₹110 crore in small loans to MSMEs within a year

Live Mint  

Bengaluru: Instamojo Technologies Pvt. Ltd, a payment platform that caters to micro, small and medium enterprises, has disbursed around ₹110 crore worth of ‘sachet loans’ worth ₹10,000-12,000 to MSMEs, within 12 months after the launch of this service, according to a top company executive. MSMEs usually depend on unorganized sources like self-help groups, friends, families, to get quick working loans, …

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