Revolutionizing Startup Funding: JanSamarth's New Platform Empowers Entrepreneurs

The Finance Ministry has launched a new feature on the JanSamarth portal to facilitate startup loans through public sector banks. This digital platform allows entrepreneurs to compare offers and apply for credit seamlessly, supporting the government's vision of empowering startups towards Viksit Bharat 2047.

The Finance Ministry has introduced a groundbreaking feature on the JanSamarth portal, offering startups a streamlined digital platform to secure credit across public sector banks. This initiative, unveiled during a performance review of these banks, aims to bolster the startup ecosystem with easy access to funding.

Developed by the Indian Banks' Association in alliance with PSB Alliance, the Startup Common Application platform enables entrepreneurs to apply for loans, compare offerings, and track applications effortlessly. With a Model Loan Scheme facilitating loans up to Rs 20 crore under the Credit Guarantee Scheme for Startups, the platform is set to advance transparency and processing speed.

This digital initiative, spearheaded by Financial Services Secretary M Nagaraju, highlights the government's commitment to fostering a tech-driven startup ecosystem. With significant profit growth reported by public sector banks, the launch marks a significant step towards achieving the Viksit Bharat 2047 vision.

(With inputs from agencies.)