Government bank (PSBS) can soon launch a dedicated portal to ensure that startups can get loans easily. According to sources, the Finance Ministry has asked banks to consider creating a common startup hub portal. This portal may be launched within the next two months. Describing more details, Alok Priyadarshi of CNBC-Awaaz said that it will be easy to get loans for startups from public sector banks.
According to sources, PSBS can create a dedicated portal for easy loans. This will provide the facility of application, approval, cross lending on a single portal. The Finance Ministry has given instructions to PSBS for this. On behalf of the government, PSBS has been asked to develop Centralized Landing Platform. The government aims to promote startup ecosystem.
Common startup hub portal may be launched in October, with the information received by sources. Last year, PSBS gave a loan of 966 crore to startups.
Startups are commercial enterprises that are usually associated with innovation and heavy risk. Therefore, it is necessary for all startup owners to find such business models that help them achieve maximum possible success. Startups are also sometimes known as organizations with limited resources whose products are uncertain or no demand.
These are often known as companies dependent on external funding. In the initial stages, they need heavy funding. Keeping this in mind, it has been decided to launch a common startup hub portal. This will make it easier to get a loan to the startup.