Small Industries Development Bank of India : The Central Government is soon going to launch Vyapar Credit Card scheme like Kisan Credit Card. The benefit of this scheme is to give loans at very low interest to all the small businessmen and small shopkeepers of the country for their business. Let us tell you that the central government is considering to launch it simultaneously at the national level.
Rs 3 lakh loan from KKC
The central government gives loans up to Rs 3 lakh to farmers in Kisan Credit Card (KCC) at very low interest. Similarly, small grocery, salon, sweet merchants will be able to easily get loans at cheap rates through business credit cards. Also, they will not need to mortgage anything for this.
Responsibility assigned to SIDB
The Standing Committee of Parliament has discussed with many banks including the Finance Ministry to take this plan on the ground. Small Industries Development Bank of India (SIDB) has been given the responsibility of its nodal agency. The government has accepted this proposal, after which it can get the green signal soon.
bank will decide the loan
The committee said that the bank will decide how much loan any entrepreneur or businessman will get. Small businessmen will also get loyalty points, reward cash back and other benefits from business credit cards.
Rs 1 lakh loan immediately
Small businessmen and shopkeepers will be provided instant loans at low interest. Loans ranging from Rs 50,000 to Rs 1 lakh can be given with a business credit card.
Must be registered in MSME
The Standing Committee of Parliament has said that, it has been recommended to give business credit cards only to the entrepreneurs registered on the portal of the Ministry of MSME. There are still lakhs of industries which have not been registered on this portal.