New Delhi: The Department of Financial Services (DFS), Ministry of Finance, launched the Startup Common Application Journey on the Jan Samarth Portal during the Public Sector Banks (PSB) Review Meeting held in New Delhi.
The initiative was unveiled by M Nagaraju, Secretary, DFS, in the presence of senior officials from DFS, the Chairman of the Indian Banks’ Association (IBA), Managing Directors and CEOs of PSBs and senior officials of the PSB Alliance and IBA.
Developed jointly by the IBA and PSB Alliance, the new digital journey provides startups with a unified platform to access credit facilities across all public sector banks. Through the portal, startups can apply for loans seamlessly, compare available offers and track their applications, ensuring a transparent and efficient credit process.
Anchored on a Model Loan Scheme, the initiative facilitates credit up to Rs 20 crore under the Credit Guarantee Scheme for Startups (CGSS), administered by the National Credit Guarantee Trustee Company (NCGTC) under the Department for Promotion of Industry and Internal Trade (DPIIT). The system also integrates multiple data sources, including PAN, GST, Udyam registration, income tax returns and credit bureaus, to enable faster loan processing and reduce paperwork.
Additionally, special interest concessions have been introduced for women entrepreneurs, encouraging greater participation and inclusivity in the startup ecosystem.
The launch marks a significant milestone in building a collaborative, technology-driven financial infrastructure for India’s startups, reflecting the government’s broader commitment to fostering innovation and entrepreneurship in line with the Viksit Bharat 2047 vision.
