Money is required to do any business, if business is big then millions of rupees are required. Usually, not all people have so much money together, so they have to take a loan from the bank. Such people are also helped by the government, today we are telling you about a scheme in which a loan of 50 lakh rupees is given by the government. The most important thing is that this loan is approved in just 59 minutes. That is, you can get a loan of 50 lakh to one crore in an hour.

PM Modi announced

Prime Minister Narendra Modi himself has mentioned this scheme. He said that we have launched a 59 minute loan portal, under which people will get a loan easily. During this, PM Modi said that small businessmen usually have difficulty in taking loans, due to low balance sheet size, there is a delay in getting the loan. That is why 59 minutes of loan portal has been launched across the country. This loan is available under the Prime Minister's Employment Generation Program.

Who will get a loan?

Under this scheme, the manufacturing sector and service sector get loans. A loan up to Rs 10 lakh is given without any guarantee. In this, you will have to invest 10 percent money yourself. The most important thing is that you can pay this loan for three to seven years. To apply in the scheme, you have to go to the e-portal of PMEGP.

Benefits of subsidy also

Apart from the loan, subsidy is also being given to you by the government. In this, you can get a subsidy of up to 35 percent in your business project cost from the government. Loans are issued by other banks.