Incredible it is….

Public Sector Banks, worth over Rs. 30,000 crore to SMEs have been disbursed in 3 months period of its launch.

  1. is an online loan approval platform which connects Public Sector Banks with Small and Medium Enterprises (SMEs).
  2. Credit Suisse Report reveals that this portal has become the largest ONLINE LENDING PLATFORM in India, within a period of three months of its launch.
  3. Low profits and bad loans has hit the PSU Banks position and handicapped them in lending.
  4. This platform has approved over Rs. 30,000 crore since November month last year.
  5. Over Rs. 6,400 crore has been sanctioned through the platform to an estimated 24,000 SMEs which is amazing.
  6. Further it is added that around 40,000 enterprises have received in principle approval from the banks.
  7. These numbers also include existing SME loans processed by the banks and routed through the platform, which is a large number due to their size and coverage of these lenders.
  8. The portal was launched in November 2018 with the Central Government’s initiative in order to ease fund flow to the credit-deprived MSME sector.
  9. It is also said that sanction rates have gone up to 60% from 36% in the beginning.
  10. The turnaround time is around one which was earlier more than a month.
  11. The existing borrowers have around 100% approval rate
  12. For new loans, the time taken is more and approval rates are said to be lower.


  • Reports also add that the second half of the sanction process which is offline is not smooth as it should have been otherwise.
  • In principle, approval is only the first steps which moves faster after which a branch visit is made, and physical documentation and regular appraisal by banks is expected where there is an adequate delay.

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