PM Modi launches portal for loans of up to â¹1 crore in 59 minutes
Prime Minister Narendra Modi on Friday launched a 59-minute approval portal for loans of up to â¹1 crore to Micro, Small and Medium Enterprises (MSMEs). Over 72,000 MSMEs have been sanctioned loans worth over â¹23,500 crore through the portal till date. Further, the mandatory sourcing limit by state-run companies from MSMEs has been increased to 25% from the previous 20%.