ENA MSME 2022-09-05 09:15:15 <p><span style="font-size:14px"><strong>New Delhi, Sept 5 (KNN)</strong> As of September 1, 2022, 224,323 loans involving Rs 66,635 crore have been sanctioned under SIDBI's 59-minute loan approval scheme for MSMEs. </span></p> <p><span style="font-size:14px">According to the latest government data loans sanctioned as of August 31, 2021, under the 59-minute loan scheme to MSMEs stood at 233,845 involving Rs 77,811 crore while loans disbursed were 2,17,828 amounting to Rs 63,553 crore. </span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">In loans disbursed indicated only a marginal year-on-year increase of 2.9 per cent.</span></p> <p><span style="font-size:14px">The scheme was launched in November 2018 with an aim to provide in-principle bank approval for collateral-free term loans or working capital loans to MSMEs from Rs 1 lakh to Rs 5 crore in 59 minutes. </span></p> <p><span style="font-size:14px">No registration is required by the borrower and a payment of Rs 1,000 is required by those whose loan applications match with products of lenders and wants to receive an in-principle approval. </span></p> <p><span style="font-size:14px">The time taken for disbursement of the loan depends on the information and documentation provided by the borrower. <em><strong>(KNN Bureau)</strong></em></span></p> 30426 https://knnindia.co.in/news/newsdetails/msme/over-224-lac-loans-totaling-rs-66635-cr-disbursed-through-59-min-portal 2022-09-05 09:15:15 knnindia.co.in