FinMin launches startup common application platform on JanSamarth portal

New Delhi, Nov 12 (PTI) The Finance Ministry on Wednesday launched a feature on the JanSamarth portal to provide a single digital platform for startups to access credit across all public sector banks (PSBs).

The feature was launched at a review meeting of PSBs, a statement from the ministry said. JanSamarth is a digital portal linking 14 credit-linked government schemes.

The Startup Common Application platform was developed by the IBA in collaboration with PSB Alliance.

The platform enables startups to apply for loans, compare offers and track their applications seamlessly through a unified digital journey, it said.

Backed by a Model Loan Scheme, the initiative provides loans up to Rs 20 crore under Credit Guarantee Scheme for Startups (CGSS by NCGTC) which is under the aegis of Department for Promotion of Industry and Internal Trade.

"The platform integrates data sources such as PAN, GST, Udyam, ITRs, and Credit Bureaus, ensuring faster processing and greater transparency. Special interest concessions are also extended to women entrepreneurs which further promotes inclusivity," it said.

This launch marks a major step toward building a collaborative, technology-driven ecosystem for India’s growing startup sector, reinforcing the government’s commitment to empowering entrepreneurs in alignment with the vision of Viksit Bharat 2047, it said.

The review meeting chaired by Financial Services Secretary M Nagaraju, was also attended by senior officials of DFS, Chairman, Indian Banks’ Association (IBA), MDs and CEOs of Public Sector Banks, MD & CEO of PSB Alliance and senior officials of IBA.

During the meeting, the Secretary reviewed the financial performance of 12 PSBs for the second quarter of the current financial year.

PSBs posted a record cumulative profit of Rs 49,456 crore in the second quarter, reflecting a 9 per cent year-on-year growth despite two lenders reporting a decline.

All PSBs together made a profit of Rs 45,547 crore in the September quarter of FY25. Thus, the increase in profit in absolute terms was Rs 3,909 crore as compared to the same quarter of the previous financial year. PTI DP DP ANU ANU