PM Modi announces 59-minute loan scheme for small and medium industries

Prime Minister Narendra Modi on Friday launched a 59-minute loan programme to help small industries at the Vigyan Bhawan in New Delhi. The launch was part of the Centre’s “support and outreach initiative” for micro, small and medium enterprises (MSMEs).

“I dedicate 59-minute loan approval portal to you and it has started benefiting the MSMEs businessmen already,” PM Modi said at the launch event.

Highlighting the 12 major decisions taken by the central government for MSMEs sector, PM Modi said, “when after breaking silos, collective initiatives are taken, collective responsibilities are fulfilled, and collective decisions are taken, it creates a comprehensive impact.”

The government has accorded high priority to the MSME sector in recent years. This outreach and support programme, which will run for the next 100 days, covering the entire country, is expected to provide greater synergy to the efforts being made for this sector.

The progress of this programme will be monitored on a continuous basis by senior officials of the union and state governments.

(With agency inputs)

First Published: Nov 02, 2018 17:40 IST