Prime minister Narendra Modi on 2nd Nov 2018 announced a special Diwali Gift to Micro Small and Medium Enterprises (MSMEs) in India. PSB loan in 59 minutes has launched a quick business portal that enables individuals to avail loans for new business set-up & to expand an existing business by the Indian Government. Under this scheme, borrowers can expect a loan of up to 1 Cr to fulfill their business-related needs too in less than 59 minutes. This is an end-to-end digitalized portal.
What is PSB loans in 59 minutes?
The PSB loan in 59 minutes is a digital lending business platform, developed to provide advanced technology backend loan solutions. This initiative was taken to ease the borrowing system & promote self-employment. This PSB portal ensures seamless in-principal loan approval.
Generally, business loan approval takes almost 25 days while applying through PSB portable enables borrowers to get loan approval in less than 59 minutes from public & private sector banks (PSBs) and Non-Banking Financial Companies (NBFCs).
Key features: -
Advanced Technology Backend Loan: It's a fully non-human intervention loan process, starting from application to disbursement.