CURRENT AFFAIRS

Detailed explanation-1: -Federal Bank unveils instant 30-minutes loan approval portal for MSMEs. Federal Bank has launched an online lending platform named federalinstaloans.com in bc a bid to facilitate quick and hassle-free credit approvals for Micro, Small & Medium enterprises (MSME) across India.

Detailed explanation-2: -India’s best bank for SMEs 2022: HDFC Bank.

Detailed explanation-3: -If you are looking for small business loans, the lender would at least require you to be in the field of your business for at least 5 years and a minimum of 2-3 years experience of running the current business. You can also get a better business loan interest rate if you have vast experience of running your business.