Get loan up to Rs 1 crores in 59 minutes: PM Modi announces 'Diwali gift' for MSME

This program was announced by the Center as part of several measures to promote the second largest employment sector in the country. This 'Diwali gift' for MSME is a debt of up to Rs 1 crores in 59 minutes of Prime Minister Modi's announcement.  Prime Minister Narendra Modi on Friday said that through a special portal, loans up to Rs 1 crores will be sanctioned in 59 minutes and it’s announcing their "Diwali gift" for small and medium enterprises holders, they have 59 minutes the loan approval portal dedicated to you. It is in the form of part of the Center's Micro, Small and Medium Enterprises (MSME) Support and Outreach Program.  The Prime Minister said that apart from this, GST registered MSME will get two per cent interest subsidy or rebate on loans growing up to Rs. 1 crores. Addressing the crowd at the launch of this program, Vegan Bhavan is in the National Capital.  Follow live updates here. All these GST registered are small and its middle enterprise can now take a loan of Rs 1 crores in just 59 minutes, "said Prime Minister Modi