We have exciting news for the MSME (medium, small and micro enterprises) sector in India – get loans up to Rs. 1 crore in 59 minutes! The Prime Minister of India, Narendra Modi, has announced a new and dynamic ‘Support and Outreach’ initiative for the MSME sector, which comprises relaxed labor laws, smoother compliance with environmental laws and easy access to credit. In a bid to perk up this huge job-generator sector and to grant them easy access to credit, the Indian Government has promised that loans of up to Rs.1 crore will be sanctioned within an hour – in 59 minutes, to be precise. Read more