MSMEs Rejoice: Keeping in mind the loan needs of millions of businessmen and common people of the country, the government and banks are running many types of schemes. In this episode, the Finance Ministry shared important information and said that a loan of up to Rs 5 crores can be easily taken in just 59 minutes. This is a big revolution for those who often face delays in bank processes.

The Finance Ministry in a post on Twitter said, “Apply for a loan up to ₹5 crore with just a few clicks on PSBLoansIn59Minutes.com and get approval for a business, personal, home or auto loan in less than an hour.” Psbloansin59minutes.com is a new-age digital lending platform.

This platform has been developed with the aim of providing advanced technology-based financial innovation and solutions. This initiative will not only strengthen MSMEs (Micro, Small, and Medium Enterprises) and individuals in India but will also give a big boost to economic development and entrepreneurship.

Why is the PSB59 platform special

The PSB59 platform is specially designed for MSMEs (Micro, Small, and Medium Enterprises) where they get freedom from the cumbersome application, documentation, and verification process. Earlier, they used to find it difficult to get loans from formal banking channels.

By providing instant and easy loans from this platform, this initiative has empowered MSMEs (small and medium businesses) and individuals across India, while also promoting economic development and entrepreneurship at the grassroots level.

As its name suggests, PSBLoansIn59Minutes.com has set a new standard by providing digital approval for business as well as retail loans within 59 minutes. This is an unprecedented achievement that will completely transform the loan process.

Anytime, Anywhere Application and Real-Time Tracking

Another special feature of this platform is that the user can apply for a loan and get the loan anytime, anywhere without going to the banks. The special thing is that the loan is also approved and disbursed within 7-10 days. Moreover, the user can track his loan application in real-time. This is an excellent example of transparency and convenience that provides unprecedented control to the borrowers.