New Delhi: The Finance Ministry is mulling to raise the Rs 1-crore cap on the 59-minute loan scheme to Rs 3-5 crore gradually, government officials said. The move comes in the wake of suggestions made by some banks to raise the loan cap gradually to Rs 2 crore, officials said. However, the ministry would have to look at the credit off-take and the asset quality before arriving at any decision.
Is it time to make changes to 59-minute PSB loan scheme? Govt seems to think, yes
The 59-minute loan scheme was launched by the government last year and was targeted on micro, small and medium enterprises
