Bhabishyat Credit Card Scheme: Eligibility and Rates Explained

Bhabishyat Credit Card Scheme: A Comprehensive Guide

The West Bengal state government has introduced the Bhabishyat Credit Card Scheme (WBBCCS) to support budding entrepreneurs. This scheme provides loans up to Rs. 5 lakh and offers a government guarantee for various projects. If you are planning to launch your enterprise, this scheme could be a great opportunity. Here, we will cover everything you need to know about the Bhabishyat Credit Card Scheme, from application processes to eligibility criteria.

1. What is Bhabishyat Credit Card Scheme 2024?

The Bhabishyat Credit Card Scheme (WBBCCS) is a new initiative by the West Bengal government aimed at promoting self-employment among young entrepreneurs. This scheme is especially focused on the MSME (Micro, Small, and Medium Enterprises) sector, which includes handlooms, handicrafts, and other small industries. The scheme provides credit cards to eligible recipients, enabling them to start their own businesses with prospective revenue streams. The Department of Micro, Small, and Medium Enterprises and Textiles (MSME&T) West Bengal oversees this program.

2. West Bengal Bhabishyat Credit Card Details in Highlights

• Name of the Scheme: Bhabishyat Credit Card Scheme
• Launched by: West Bengal Government
• Launched on: April 1, 2023
• Department: Department of MSME&T, Government of West Bengal
• Objective: To provide financial assistance to the state’s citizens
• Mode: Online
• Beneficiaries: Young entrepreneurs aged 18 to 55 years old
• State: West Bengal
• Official Website: BCCS Official Website

3. Objectives of Bhabishyat Credit Card Scheme 2024

Many educated young people in West Bengal possess entrepreneurial skills and aspire to become self-sufficient by establishing micro-businesses. However, obtaining institutional financing for their credit requirements can be challenging. The Bhabishyat Credit Card Scheme aims to:

• Assist young people in becoming self-employed.
• Promote income generation.
• Encourage wealth development.
• Create more job opportunities in both rural and urban areas of the state.

4. WBBCCS Features

• Target Audience: Young entrepreneurs aged 18 to 55.
• Loan Amount: Up to Rs. 5 lakh.
• Subsidy: Margin Money subsidy provided by the government.
• Interest Rate: Subsidised interest rate of 4% per annum on the loan amount.
• Loan Use: For establishing ventures/projects/micro enterprises in manufacturing, service, and business/trading/agro-based activities.

5. Benefits of Bhabishyat Credit Card Scheme

• Financial Assistance: Project cost grant of Rs. 5 lakh.
• Subsidy: 10% margin money subsidy up to Rs. 25,000.
• Collateral-Free Loans: No need for collateral to secure loans.
• Government Guarantee: Ensures minimal financial risk.

6. Documents Required

To apply for the Bhabishyat Credit Card Scheme, the following documents are required:

• Bonafide certificate of West Bengal
• Aadhar card of the applicant
• Copy of ration card
• Business Performa
• Loan documents
• Copy of the PAN card of the applicant
• Recently clicked passport-size photograph
• Contact information, including mobile number

7. Eligibility Criteria for Bhabishyat Credit Card Scheme 2024

Applicants must meet the following eligibility criteria:

• Citizenship: Must be a citizen of India.
• Residency: Must have been a permanent resident in West Bengal for at least ten years.
• Age: Workers in the construction and motor transport industries aged 18 to 55.
• Family Limitation: Only one member per family can enroll in the program.

8. Application Process of Bhabishyat Credit Card Scheme 2024

Follow these steps to apply for the Bhabishyat Credit Card Scheme online:

1. Visit the official website.
2. Find and click on the application link.
3. Fill in the necessary information in the application form.
4. Attach required documents: Aadhar card, ration card copy, PAN card copy, business proforma, loan documents, and a recent passport-size photo.
5. Submit the completed application form to the bank.
6. The bank will verify your eligibility and issue a credit card worth Rs. 5 lakh upon approval.

9. Procedure for Offline Applications

Beneficiaries can also apply offline by following these steps:

1. Obtain the application form from the MSME & T Department’s district office.
2. Fill out the form accurately.
3. Attach necessary documents.
4. Submit the application form to the MSME & T Department’s district office.
5. The Block/State Level Screening Committee will verify the application.
6. Approved applications will be forwarded to banks for loan processing.

10. How to Login on BBCS Portal

To log in on the BBCS portal:

1. Visit the official website.
2. Click on the login option in the upper left corner of the homepage.
3. Enter your password and username/email/mobile.
4. Click the “Sign in” button.

11. FAQs

Q: Are there any age restrictions? A: Yes, eligible individuals must be between 18 and 55 years old.

Q: Does paying the funds online for registration have any requirements? A: No, payment of any kind is not necessary for online registration.

Q: Is it possible for a user to apply on this portal more than once using the same login credentials? A: No, users cannot apply more than once using the same login credentials.

Key Takeaways

• Focus: The scheme is designed to assist young entrepreneurs in West Bengal.
• Loans: Provides loans up to Rs. 5 lakh with government guarantee.
• Subsidies: Includes margin money subsidy and interest rate subsidy.
• Eligibility: Targets individuals aged 18-55 in specific industries.
• Application: Available both online and offline.

Conclusion

The Bhabishyat Credit Card Scheme is a significant initiative by the West Bengal government to empower young entrepreneurs. By providing substantial financial assistance and easing the burden of obtaining credit, this scheme aims to foster self-employment, income generation, and job creation across the state.

For more information or to apply, visit the official BCCS website.

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