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The curious case of the company that handles 'Get PSB loans in 59 mins'

Sidbi acquires Ahmedabad-based start-up at hefty premium; founders deny charges of link to govt

The curious case of the company that handles 'Get PSB loans in 59 mins'

The nameplate at the entrance of Optionz, a commercial building in the heart of Ahmedabad, has changed from CapitaWorld Platform Pvt Ltd to PSB Online Loans Ltd just last month.  The third floor of the building houses the fintech start-up that runs www.psbloansin59minutes.com. The portal hit the headlines for its scheme — ‘Get Public Sector Bank loans in 59 minutes’ — launched by Prime Minister Narendra Modi in September to help micro, small and medium enterprises (MSMEs) obtain loans quickly. PSB Online, which has been handling the scheme since ...