Custom-built credit card lay in store for MSMEs

New Delhi, July 28 (KNN) A credit card with a limit of Rs 1 lakh could be offered to micro, small and medium enterprises (MSMEs) if the government’s universal credit flow plan withstands.

Small Industries Development Bank of India (SIDBI) will offer the credit card to MSMEs registered on the Udyam portal, as per Mint.

All the credit schemes available for the MSME sector will be joint together in the card.

It will include interest subvention, in addition to offering collateral-free loans of upto 1 lakh.

The bespoke credit card for MSMEs will be similar to what is provided to Kisan Credit Card (KCC) and could be branded as Vyapar Credit Card (VCC).  (KNN Bureau)