DFS Launches Startup Common Application Journey on Jan Samarth Portal

The Department of Financial Services (DFS), under the Union Ministry of Finance, has launched the Startup Common Application Journey on the Jan Samarth Portal during the Public Sector Banks Review Meeting in New Delhi.

🔹 Key Features

• Single Digital Platform: Provides startups a unified access to credit across all Public Sector Banks (PSBs).
• Loan Application and Tracking: Enables startups to apply for loans, compare offers, and track applications seamlessly through a digital end-to-end journey.
• Loan Size: Loans up to ₹20 crore are available under the Credit Guarantee Scheme for Startups (CGSS), implemented by NCGTC under the Department for Promotion of Industry and Internal Trade (DPIIT).

🔹 Technology and Integration

• Integrates multiple data sources such as PAN, GST, Udyam, ITRs, and Credit Bureaus.
• Ensures faster loan processing, greater transparency, and reduced documentation burden for startups.

🔹 Inclusivity Measures

• Special interest concessions are provided for women entrepreneurs, promoting inclusive growth and access to finance.

🔹 Significance

• Simplifies credit access for startups, improving ease of doing business.
• Supports the government’s vision of startup-led growth and innovation.
• Aligns with broader initiatives such as Atmanirbhar Bharat and financial inclusion.

Source: PIB