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PM Narendra Modi will start loan in 59 minutes scheme

Prime Minister Narendra Modi will give gifts to the small traders tomorrow (on Friday). They will start a ‘Digital Landing Platform’ for the small and middle class (MSME) merchants of the country. From where you will be given a loan of up to Rs 1 crore without any guarantees, and banks will not have to pay the bribe. The big thing is that, in 59 minutes, the loan will be approved. For this, business owners will have to register on psbloansin59minutes.com and register them.

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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