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Govt’s 59-min loan scheme: 2.45 lakh loans sanctioned till March 1 in current FY, up 2.2% only from

The government and SIDBI’s 59-minute loan approval scheme for MSMEs – PSB Loans in 59 Minutes – has sanctioned 5,314 loans in the current financial year as of March 1, 2023, showed an analysis of the official data. Banks sanctioned 2,45,065 loans involving Rs 83,938 crore as of March 1 under the scheme, growing by only 2.2 per cent from 2,39,751 loans involving Rs 81,141 crore sanctioned as of April 1 in the current financial year, data from the MSME ministry’s dashboard showed.

In terms of disbursements, the scheme disbursed 4,089 loans with 1.83 per cent growth in loans disbursed to 2,26,778 loans involving Rs 67,847 crore till the beginning of March this year vis-a-vis 2,22,689 loans amounting to Rs 65,834 crores disbursed as of April 1 last year.

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