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Prime Minister Narendra Modi on Friday launched a 59-minute loan programme and other moves to help small businesses as part of the centre’s “support and outreach initiative” for micro, small and medium enterprises (MSMEs) in New Delhi. “Loan requests for up to Rs 1 crore will be cleared in about the same time it takes for your morning commute,” he said. The programme was unveiled as part of 12 new decisions to aid the sector which, the PM said, were like “Diwali gifts for MSMES”

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