The document will be given:
The loan must be applied to the computer at psbloansin59minutes.com. After this, the dealer will be asked for a 3 type of document to take loan. The merchant will have to provide user ID and password of his GSTIN and GST. It will have to provide information about e-filing of income returns and finally upload the bank account statement, besides using net banking.
How many days will the loan get:
After uploading the documents, the bank, ministry, department of income will investigate it. If all the details are correct, then the loan amount will reach the dealer’s account within a week. However, only those working days have been included. This is probably the first time that the government bank came up with a loan to lend the MSME sector. This includes SIDBI and State Bank of India, Bank of Baroda, Pajab National Bank, Indian Bank and Vijaya Bank.
New businessmen will have to wait:
The merchants on the psbloansin59minutes.com portal will have to register, if anyone wants to start a new business then they will have to wait for the application on the portal.
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