The West Bengal state government has introduced a new program called the Bhabishyat Credit Card Scheme, which offers loans up to rupees 5 lakh and serves as a government guarantee for upcoming projects. Those who wish to launch their enterprises have a great opportunity, and in 2024 they can apply online for the program. Mamata Banerjee, the chief minister of West Bengal, revealed the plan during the budget presentation. The program was put in place to support upcoming initiatives in the state and give persons with low incomes financial support. Because the government acts as a guarantee, the loan amount can be obtained without any collateral.
What is the Bhabishyat Credit Card Scheme (BCC)?
When it comes to the development of MSMEs, like as handlooms and handcrafts, West Bengal has a stellar record. The MSMEs sector accounts for about 99% of all industrial undertakings, and 98% of MSMEs are micro firms. Many educated young people in the state who possess entrepreneurial skills and aspire to become self-sufficient by establishing microbusinesses find it difficult to obtain institutional financing for their credit requirements, so for this purpose, the state government of West Bengal introduced this program.
The scheme will provide a credit card with a credit limit of 5 lakh rupees. Consequently, it has been deemed essential to assist young people in becoming self-employed, as this will generate income, build wealth, and open up further job prospects in both rural and urban parts of the State.
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The objective of the Bhabishyat Credit Card Scheme
The objective of the Bhabishyat Credit Card scheme is to provide financial help to new entrepreneurs to establish startups. The main aim of the scheme is to assist young people in becoming self-reliant and independent in every manner. The financial help of rupees 5 lakh will be given under this program. The scheme has been launched for the age group of 18-55. The government is providing a subsidized interest rate of 4% only per year. The scheme will be helpful for building and generating new job opportunities in the state.
Helpful Summary of the Bhabishyat Credit Card Scheme
| Name of the scheme | Bhabishyat Credit card scheme |
| Launched by | The state government of West Bengal |
| Beneficiaries | The citizens of the state |
| Benefits | Under this scheme the government will provide a financial help of rupees 5 lakh through the credit card. |
| State | West Bengal |
| Year | 2024 |
| Official website | BCCS WB Portal |
Eligibility Criteria
The eligibility criteria for applying under this scheme is simple and are given below:-
- The applicant should be a permanent resident of the state of West Bengal.
- The applicant’s age should be between 18-55 years.
- The applicant should be a citizen of India and should have resided in West Bengal for the past 10 years.
- Only one member of a family is eligible to apply under this scheme.
Benefits of the Bhabishyat Credit Card Scheme
The benefits of this scheme are given below:-
- Under this scheme, the government will provide financial help of rupees 5 lakh by providing a credit card.
- The scheme will provide financial assistance to the citizens belonging to the age group of 18-55 years.
- The scheme will provide loans at a subsidized interest rate of 4% only per year.
Also Read: Laxmi Bhandar Status
Required Documents
The documents required for registering under this scheme are given below:-
- Aadhar card
- PAN card
- Domicile certificate
- Mobile number
- Email ID
- Passport size photographs
- Bank account details
Silent Features
Some of the important features of this scheme are given below:-
- A single individual from a single family—defined as one’s self and spouse—is qualified to avail the benefits of this scheme.
- Government Subsidy: 10% of the project cost, up to a maximum of rupees 25,000, in the form of a margin money contribution.
- Bank Loan: The approved project cost less than the government subsidy, with a 4% annual interest rate provided to the borrower by the government.
- Guarantee Coverage: CGTMSE and the WB government will jointly guarantee 100% of the bank loan.
Bhabishyat Credit Card Scheme Apply Online 2024
The applicant needs to follow the below-given procedure step by step to apply online for this scheme:-
Step 1:- first of all you need to visit the Official BCCS Website of the scheme to initiate the process.
Step 2:- on the homepage of the website you need to scroll down and click on the apply now option.
Step 3:- after that, you need to click on the register here button to initiate the process.
Step 4:- now you need to click on the yes or no option to confirm that if you are or are not from ITI/ Polytechnics /vocational courses/ SST/ under PBSSD/ TETSD.
Step 5:- After this, you need to provide the details like individual, Email, and mobile number and agree on the terms and conditions.
Step 6:- Now finally click on the register button to complete your process.
Login for the Bhabishyat Credit Card Scheme
The login process for applying under this scheme is given below:-
- First of all, visit the official website of the scheme.
- In the upper right corner click on the login button.
- After this, you need to provide a username/ Email ID/ Mobile number.
- Now provide the password and enter the captcha code.
- Finally, click on the sign-in button to complete your process.
Required Details to be Filled Under Application Form
The details that are to be filled under the application form are given below:-
- Your name
- Email ID
- Mobile number
Contact Details
- Helpline number:- 3564258345
FAQs
What is the Bhabishyat Credit card scheme?
It’s is a scheme launched by the government of West Bengal to provide financial help of rupees 5 lakh as a loan.
What is the eligibility criteria for applying under this scheme?
The applicant should be the permanent resident of the state of West Bengal.
What are the benefits of this scheme?
Under this scheme, the government will provide loans at subsidized interest.
Can I apply online for this scheme?
Yes, you can apply online for this scheme by visiting the official website of the scheme.