West Bengal Chief Minister (CM) Mamata Banerjee on 11 February 2015 launched the Micro Business Credit Card in association with the State Bank of India to boost the Micro Small and Medium Enterprises (MSME) sector in the state.
The Micro Business Credit Card is the first of its kind in India. These Business credit cards will even help the farmers to start businesses.
With the help of this card, the small and medium entrepreneurs will be able to avail the cash credit or loan up to 5 lakh rupees for their business activities, even without collateral security.
A fund of 200 crore rupees has been created for this purpose by the state government and a simplified clearance process was chalked out. The government will start the clearance centres in Bardhaman, Durgapur, Asansol and other places to expedite the clearance process.
The initiative was supported by the State Bank of India. The State Bank of India undertook the scheme as a pilot project and with its success, it will be introduced in other states as well.
When: 11 February 2015