Bankers have unanimously agreed to issue ‘Bhobishyot’ (future) credit cards as proposed by the West Bengal government to extend youths a loan of up to Rs 5 lakh to start new business ventures, said Amit Mitra, principal chief advisor to Chief Minister Mamata Banerjee.
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The former state finance minister told reporters on Friday that around 2 lakh people would stand to benefit from the bank loans, following a meeting with lenders.
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"The state will provide 15 per cent guarantee money and 85 per cent loan guarantee through credit trust established by Credit guarantee trust for small and medium industrialists.
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"If all goes well, 2 lakh youths will start businesses this year. The evaluation will start from April 1 and the portal has been created,” he said.
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Banerjee announced the 'Bhobishyot' credit card scheme during the budget session of the assembly. A gazette notification has also been issued in this regard.