The Department of Financial Services (DFS), Ministry of Finance, on Wednesday launched the Startup Common Application journey on the Jan Samarth Portal during the Public Sector Banks (PSBs) review meeting in New Delhi.

The Startup Common Application journey has been developed by the Indian Banks’ Association (IBA) in collaboration with PSB Alliance.

“The portal provides a single digital platform for startups to access credit across all PSBs. It enables them to apply for loans, compare offers and track their applications seamlessly through a unified digital journey,” IBA said in a statement.

Backed by a model loan scheme, the initiative provides loans up to Rs 20 crore under the Credit Guarantee Scheme for Startups 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 to ensure faster processing and greater transparency. Special interest concessions are also extended to women entrepreneurs, further promoting inclusivity,” the official release said.