{
  "id": 11645334,
  "title": "Seven-day fast-track approvals, low-interest funding to boost Indian businesses for Deepavali",
  "url": "https://urgent.news/2026/10/03/seven-day-fast-track-approvals-low-interest-funding-to-boost-indian",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-03T08:56:00.000Z",
  "source": {
    "name": "The Vibes",
    "slug": "the-vibes",
    "url": "https://www.thevibes.com/articles/news/127943/seven-day-fast-track-approvals-low-interest-funding-to-boost-indian-businesses-for-deepavali"
  },
  "original_language": "en",
  "account": "The Malaysian government has introduced a new RM30 million BERKAT Deepavali financing initiative to aid Indian micro-traders in preparing for the upcoming Deepavali festival. Operated by KUSKOP and Tabung Ekonomi Kumpulan Usaha Niaga (TEKUN) Nasional, this scheme offers seven-day application processing and low-interest funding of up to RM30,000 over a 12-month period at a three percent annual interest rate. Minister Steven Sim announced the initiative, stressing that expedited processing will ensure small business owners can secure necessary working capital without delay. KUSKOP has streamlined decision-making for applications under RM100,000, with alternative credit evaluations focusing on cash flow to accommodate applicants with less than perfect credit histories. The BERKAT Deepavali scheme is open until November 8, accepting applications through the TEKUN Online System or regional branch offices. Eligible applicants include Malaysian Indian citizens aged 18 to 65, with existing TEKUN borrowers who have total financing under RM100,000. The ministry previously allocated RM35 million to 5,590 entrepreneurs through its BARAKAT Aidilfitri campaign earlier this year.",
  "summary": "MALAYSIAN Indian micro-traders preparing for Deepavali will benefit from a fast-tracked seven-day application turnaround and accessible credit assessments under a new RM30 million festive financing initiative. The BERKAT Deepavali scheme, launched by...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}