Micro business credit card introduced for MSME in West Bengal
Updated: Feb 12, 2015 03:52:59pm
Kolkata Feb 12 (KNN) To support and assist in the further development of the MSME sector in the state Mamata Banerjee, Chief Minister of West Bengal introduced micro business credit card.
Through the card launched as a pilot project with the support from the authorities of the State Bank of India, the small and medium entrepreneurs would be able to avail of cash credit or loan up to Rs 5 lakh for their business activities, even without collateral security.
A fund of Rs 200 crore fund and a simplified clearing process has been put into place for this scheme. To expedite the clearance process facilitation and clearance centres in Bardhaman, Durgapur, Asansol and other places have been planned.
State finance minister Amit MItra said that it will be a rolling fund and there will be incentives on the capital expenditure.
State Bank of India who has extended the support to the state government for the first time said that if this was successful they would consider introducing it in other states as well.(KNN/ KS)
Through the card launched as a pilot project with the support from the authorities of the State Bank of India, the small and medium entrepreneurs would be able to avail of cash credit or loan up to Rs 5 lakh for their business activities, even without collateral security.
A fund of Rs 200 crore fund and a simplified clearing process has been put into place for this scheme. To expedite the clearance process facilitation and clearance centres in Bardhaman, Durgapur, Asansol and other places have been planned.
State finance minister Amit MItra said that it will be a rolling fund and there will be incentives on the capital expenditure.
State Bank of India who has extended the support to the state government for the first time said that if this was successful they would consider introducing it in other states as well.(KNN/ KS)
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