One of the primary benefits of unsecured loans is that they don't require any collateral.
An e-Mudra loan can be available online to start a new business or expand the existing one.
Paytm announced collateral-free business loans for small merchants up to ₹5,00,000.
Any Indian citizen above 18 years can use these government schemes if they meet other criteria.
The portal, PSB loans in 59 minutes started its in-principle approval of retail loans in 59 minutes on 5 September 2019.