Railway Minister appreciates PSB Loans in 59 Minutes Portal, Said it will boost MSME Sector

Ahmedabad: Union Railways and Coal Minister Shri Piyush Goyal appreciates the  PSB loans in 59 minutes portal, which will enable MSME to get an in-principle approval of business loans up to Rs. 1 crore within 59 minutes from the associated bank. Shri Goyal said it is a historical step by Modi government which promotes MSME sector- the growth engine of the Indian economy. The minister was speaking during the inaugural ceremony of the MSME – support and outreach programme in Ahmedabad today.

Shri Goyal said that the Modi government worked hard to improve the banking system in the country. He said the government is committed that the small businessman should not suffer for the financial assistance. Shri Piyush Goyal also facilitates the first beneficiary of PSB loans in 59 minutes portal.

Railway Minister also said that Prime Minister Narendra Modi’s MSME Support & Outreach programme will provide Small and Medium Enterprises easier availability of credit, access to markets and online loans up to ₹1 Crore in just 59 minutes, providing a boost to commerce and industry in the nation. Such programme will further improve India’s rank in ease of doing business ranking, he added. He also showed the confidence that in a very little time India will jump into top 50 countries in ease of doing business ranking.

www.psbloansin59minutes.com is a SIDBI led PSB consortium of SBI, PNB, BoB, Vijaya Bank and Indian Bank.

Ms. Bijal Patel, Mayor, Ahmedabad, Ms. D. Thara, MD, GIDC, Dr. Vikrant Pande, Collector, Ahmedabad along with senior banking officials also present at the occasion