Press Information Bureau
Government of India
Ministry of Finance

23-July-2019 17:45 IST

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

Out of 2,00,660 applications submitted, 1,59,583 applications for loans on the psbloansin 59 minutes.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 Rs.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 psbloansin 59 minutes 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 today.

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DSM/RM/PD

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.
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