Credit decision within 14 working days on MSE loans up to ₹25 lakh MSE loan decision time
Banks must decide on a loan application of up to ₹25 lakh from a micro or small enterprise within 14 working days.
Last updated on
- Status
- Open
- Run by
- Reserve Bank of India
What you get
- A credit decision within 14 working days on loans up to ₹25 lakh
- Larger loans follow the bank's board approved time norms
- Banks must track MSE loan applications in a system that gives you an acknowledgement with a unique application number
- Banks must show their MSME loan timelines and a document checklist under a separate tab on their website
- Banks publish every quarter how many applications are pending beyond their time norms
Who can apply
- Micro and small enterprises.
- The most on offer is ₹25 lakh.
- The applicant must be a micro or small enterprise
- The 14 days are working days and run on a complete application
- Applies to scheduled commercial banks, which include public sector, private and small finance banks. The RBI direction excludes regional rural banks such as Kerala Grameena Bank, and co-operative banks such as Kerala Bank are not covered by it
How to apply
- Check the MSME tab on the bank's website for its document checklist and apply with everything on it
- Keep the acknowledgement and the application number
- If 14 working days pass with no decision, write to the branch and to the bank's grievance officer
- If the bank does not reply within 30 days, or you are not satisfied, complain to the RBI Ombudsman at cms.rbi.org.in
In person, your bank branch
In Kerala, applies at every branch of a scheduled commercial bank in Kerala.
Where we found this
An independent guide by The Company of Four, not a government website. Schemes change often, so check every detail on the official website before you apply. Links marked ↗ open external websites that we do not run, and we are not responsible for their content. Seen something out of date? Tell us and we will look into it.