The products -- Suvidha Plus Home Loan and Suvidha Plus Auto Loan -- will be benchmarked to the Reserve Bank of India's (RBI) repo rate and will be available to customers with effect from September 10
PSBs get Rs 70,000 crore; home, auto loans to become cheaper
Currently, the portal gives in-principle approval for loans of up to Rs 1 crore to micro, small and medium enterprises in just 59 minutes or less than an hour
Says vehicle borrowers will benefit from growth in India's GDP and the improving business operating environment