Government's 59-Minute Loan Portal Sanctions Rs.865 Bn

22 Apr 2024 CW Team

The government's 59-minute loan portal has sanctioned over ?865 billion in loans, facilitating access to credit for businesses and entrepreneurs across various sectors. This initiative underscores the government's commitment to supporting economic growth and fostering entrepreneurship in the country.

Launched to streamline the loan approval process and reduce bureaucratic hurdles, the 59-minute loan portal has emerged as a key tool for businesses seeking timely financial assistance. Through this platform, borrowers can apply for loans of up to ?10 million with minimal documentation and receive approval within 59 minutes.

The significant amount sanctioned through the portal reflects its effectiveness in addressing the financing needs of businesses, particularly small and medium enterprises (SMEs), which play a crucial role in driving economic activity and employment generation.

The funds sanctioned through the 59-minute loan portal are expected to fuel business expansion, investment in infrastructure, and job creation, contributing to overall economic development and prosperity.

Furthermore, the success of the portal highlights the government's commitment to leveraging technology to promote financial inclusion and facilitate access to credit for all segments of society. By harnessing the power of digital platforms, the government aims to empower entrepreneurs and create an enabling environment for economic growth and innovation.

Overall, the achievement of sanctioning over ?865 billion through the 59-minute loan portal demonstrates its effectiveness in facilitating timely credit access for businesses and stimulating economic activity. As the portal continues to evolve and expand its reach, it is poised to play a pivotal role in driving India's economic resurgence and fostering a culture of entrepreneurship.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..