Business

The State Bank provides 39.58 billion rupees


The loan is provided through psbloansin59minutes.com.

New Delhi:

Public Sector Banks (PSBs) have granted a business loan of Rs 39,580 crore under the so-called “59-minute loan” initiative from September 2018 to February 2022, EU Finance Minister Bhagwat Kisanrao Karad said on Tuesday.

The loan is provided through psbloansin59minutes.com.

From the creation of the psbloansin59minutes.com portal on 25 September 2018 to 28 February this year, 2,01,863 proposals of 39,580 million euros have been distributed in the business loan category and 17,791 proposals of 1,689 million euros have been distributed. retail lending category, the minister said in response to a written question from Rajya Sabha.

Karad noted that the portal only provides a platform for acceptance by the lenders included in it in principle. The final credit decision on the loan applications received from the portal is made by the lenders, and the accounts of the sanctioned loans are also tracked, including steps to recover them in the accounts that are subsequently classified as non-performing assets. lenders. Its details are not kept central.

With regard to loan management, the Minister said that the assessment and processing of the loan is carried out by the branches of the lenders and the loan processing centers.

He said many lenders connect or integrate with digital credit markets on psbloansin59minutes.com, paisabazaar.com, CredAvenue, the Trade Receivables Discounting System (TReDS) platform, and more. to connect with lending customers in a variety of segments, such as retail, micro, small and medium-sized businesses. (SME), etc., according to their respective business focus.

“Lending to these credit markets is done by lenders according to their internal approvals,” the minister said.



Source link

Agrasmartcity

Welcome to India's Largest news platform, I assure you that we daily update on Global news which helps you to grow your knowledge.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button
AllEscortAllEscort