To improve the living comfort of the common man, the government plans to launch “Jan Samarth” – a common portal for the delivery of various programs run by different ministries and departments.

As part of the Narendra Modi government’s vision of minimum maximum government governance, the new portal plans to initially integrate 15 credit-related government programs, sources said.

The offerings will be gradually expanded, depending on compatibility, as some of the centrally sponsored programs involve multiple agencies, they added.

For example, programs such as Pradhan Mantri Awas Yojana and Credit Linked Capital Subsidy Scheme (CLCSS) are administered by different ministries.

The proposed portal aims to bring these schemes together on a single platform so that they can be viewed by beneficiaries without much hassle. Pilot tests are underway and details are being ironed out before the actual launch, they said, adding that State Bank of India (SBI) and other lenders were carrying out the tests.

They said the portal will have an open architecture allowing state governments and other institutions to also integrate their programs on this platform in the future.

To reassure borrowers, in 2018 the government launched a portal for different types of credit products, including MSMEs, home, car and personal loans.

The portal facilitates loan approval in principle for MSMEs and other borrowers in 59 minutes by various public banks compared to the previous turnaround time of 20-25 days.

After receiving an approval-in-principle letter, the loan is expected to be disbursed in 7-8 business days. The portal processes loan applications without human intervention up to the sanctioning stage.

Any MSME borrower does not need to submit a physical document for approval in principle of a loan.

Instead, the portal depends on advanced algorithms to analyze data points from multiple sources such as tax returns, GST data, bank statements, etc.

The platform is integrated with the Government Credit Guarantee Fund for Micro and Small Enterprises (CGTMSE) to verify the eligibility of borrowers.

In the first two months of the launch of the portal, state-owned banks had given approval in principle to loan applications of 1.12 lakh from micro, small and medium enterprises, totaling Rs 37,412 crore.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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