ISSN

2321-5763 (Online)
0976-495X (Print)


Author(s): Aditi Agarwal, Ramesh Kumar Chaturvedi, Sanjay Kumar Yadav

Email(s): Email ID Not Available

DOI: 10.52711/2321-5763.2021.00058   

Address: Aditi Agarwal1, Dr. Ramesh Kumar Chaturvedi2, Dr. Sanjay Kumar Yadav3
1Research Scholar, MSMSR, MATS University, Raipur, C.G.
2Dept. of Rural Management, Babasaheb Bhimrao Ambedkar University, Lucknow, Uttar Pradesh.
3Asst. Professor, FMS, ICFAI University, Raipur, C.G.
*Corresponding Author

Published In:   Volume - 12,      Issue - 4,     Year - 2021


ABSTRACT:
‘PSB Portal’ is a micro-service digital platform which primarily connects funding needs of Micro, Small and Medium Enterprises (MSMEs) to Banks for business. It is a strategic initiative of SIBDI with five other Public Sector Banks and was launched by Government of India, in November 2018, to provide loans to MSMEs of up to Rs.1 crore. The main motive of this initiative is to ease the process of fund availability to MSMEs and decrease the turnaround time of credit delivery to MSME sector. The new ‘PSB portal’ also makes it possible to provide timely finance at reasonable and competitive rates of interest to MSME sector. MSME sector forms a vital component of the economy in terms of their contribution to employment generation, exports and inclusive growth. One-third of the country's GDP is contributed by more than 50 million MSMEs in India. Thus, the role of MSMEs in the economic and social development of the country is not to be over-looked. There is need for finance that meets the life-cycle needs of MSMEs with a strong oversight mechanism in Banks to see that MSME-related lending policies are implemented at the operating level, is high. Such measures by the Government would serve the purpose of ease of access to funding requirements of MSME’s and also help open new avenues for Banks to increase their business while tapping new customers thereby increasing their priority sector assets. It will make formal banking more inclusive and deepen the roots of financial inclusion via digitization in the economy. After almost after a year of this initiative, on September 5 2019, Retail products (Home Loan Personal Loan and Auto Loan) were also added to the portal to increase the ease of credit to retail customers to further facilitate purchasing power in the economy. This paper will analyse the challenges faced by the Bankers while financing MSMEs via PSB portal and the reasons for rejection of the applications with further prospects of the scheme.


Cite this article:
Aditi Agarwal, Ramesh Kumar Chaturvedi, Sanjay Kumar Yadav. Analyzing the Aftermath of PSB Micro Service Portal Implementation in India. Asian Journal of Management. 2021;12(4):389-3. doi: 10.52711/2321-5763.2021.00058

Cite(Electronic):
Aditi Agarwal, Ramesh Kumar Chaturvedi, Sanjay Kumar Yadav. Analyzing the Aftermath of PSB Micro Service Portal Implementation in India. Asian Journal of Management. 2021;12(4):389-3. doi: 10.52711/2321-5763.2021.00058   Available on: https://ajmjournal.com/AbstractView.aspx?PID=2021-12-4-6


REFERENCES:
1.    Adinath B. K (2012). Consistent Performance in Key Operating Dimensions: A Study of the Selected Public Sector and Private Sector Banks in India. Asian J. Management 3(2), pp.62-72.
2.    Abhivyakti K. and Chaturvedi R.K. (2020). Paradigm Shift in Culture of Microfinance: From Ancient To Modern Era, Studies in Indian name Palace, 40(56), pp. 2101-2109.
3.    Chaturvedi R.K (2016), Foreign direct investment in Retail: Neighbourhood retailers’ and consumers’ perspective, Journal of Marketing Vistas, 6(1), pp. 26-31.
4.    Deshmukh G. K. and Joseph, S. (2010). Financial Inclusion: A Necessity. Asian J. Management 1(2), pp. 84-89.
5.    Dwivedi S. and Chaturvedi R.K. (2020). Propinquity of Avariciousness with Impulse buying Tendency, International Journal of Advanced Science and Technology, 29 (11), pp. 1842-1854 http://sersc.org/journals/index.php/IJAST/article/view/21842
6.    Fozia (2015). Service Quality Dimensions of E-banking: An Empirical Analysis in India. Asian J. Management; 6(3), pp. 235-240.
7.    Jain M. K (2019). Microfinance as the next wave of Financial Inclusion: RBI Bulletin December.
8.    Saddy N. K and Kaur H (2013). Recovery Management of Non-Performing Assets of Public and Private Sector Banks. Asian J. Management 4(4), pp. 293-296.
9.    Khatri P.A. (2019). Study of Challenges of the Indian MSME Sector, IOSR Journal of Business and Management (IOSR-JBM), 21(2), pp.5-13.
10.    Pramod K. P (2013). The Effect of Inflation on Measures of Financial Performance on Indian Manufacturing Industry. Asian J. Management 4(1), pp. 28-35.
11.    Rajesh K, Raju C.K., and Singh K. L (2012). Regional Rural Banks: A result of Narasimham committee. Asian J. Management 3(4), pp. 188-195.
12.    Mittal R.K., Aggarwal V. S. and Rawat D (2017). Enhancing competitiveness of MSMEs in India through their integration in Global Supply Chain: A study of challenges faced by firms in Gurgaon auto –Component cluster. Asian J. Management; 8(1), pp. 59-67.
13.    Joseph S. (2011). Service Quality of Public Sector Banks: A Study. Asian J. Management 2(4), pp. 169-172.
14.    Yadav S.P. (2014). Performance evaluation of public sector banks with reference to ‘CAMEL model’ for the period of 2006 – 2013. Asian J. Management 5(4), pp. 374-379.
15.    Singh S. and Arora R (2015). I T Enabled Banking Services: Extent of Use by Customers and Their Problems. Asian J. Management; 6(3): July-Sept., 2015 page 200-208.
16.    Dheenadhayalan V. and Rajaprabu (2014). Loan Assets in New Private Sector Banks in India. Asian J. Management 5(3), pp. 347-353.
17.    www.PSBloansin59minutes.com (Accessed on 12/12/2020)
18.    www.paisabazaar.com/business-loan/PSB-loans-in-59-minutes (Accessed on 11/12/2020)

Recomonded Articles:

Author(s): Rajesh Kumar, C.K. Raju, K. L. Singh

DOI:         Access: Open Access Read More

Author(s): Surabhi Singh, Renu Arora

DOI: 10.5958/2321-5763.2016.00014.7         Access: Open Access Read More

Author(s): Bismark Maka, N. Suresh

DOI: 10.5958/2321-5763.2018.00078.1         Access: Open Access Read More

Author(s): Prabhjot Kaur

DOI:         Access: Open Access Read More

Author(s): Monika Sethi, Sourabh Guha, Anuraag Agarwal

DOI:         Access: Open Access Read More

Author(s): Puttaswamy Gowda. M

DOI: 10.5958/2321-5763.2018.00192.0         Access: Open Access Read More

Asian Journal of Management (AJM) is an international, peer-reviewed journal, devoted to managerial sciences. The aim of AJM is to publish the relevant to applied management theory and practice...... Read more >>>

RNI: Not Available                     
DOI: 10.5958/2321-5763 


Recent Articles




Tags