12. One Crore Loan in 59 minutes for MSMEs
Modi administration announced this scheme for the Micro, Small, and Medium Enterprises (MSMEs) on the eve of Diwali. As per this scheme, the eligible enterprises can avail loans up to Rs. 1 crore and it will be sanctioned within an hour. All they have to do is register at the SIDBI portal and wait for it to get approved. The Modi government’s aim through this scheme is to uplift the MSME sector of the country since it’s a significant one which contributes towards the economy. According to Minister of State Bhagwant Kisanrao Karad in his written reply to Rajya Sabha informed that a total of Rs 39,580 crore have been dispersed under this scheme between September 2018 to February 2022.
