PM Modi announces national rollout of portal to give loans in 59 minutes

New Delhi, Nov 02 (ANI): Prime Minister Narendra Modi on Friday launched the government’s Support and Outreach Initiative for Micro, Small and Medium Enterprises (MSME) at Vigyan Bhawan in Delhi. He 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 main highlight of the portal is that it reduces the loan processing turnaround time from 20-25 days to 59 minutes.

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