Small and medium business in West Bengal can now avail easy loans of up to Rs.5 lakh courtesy a credit card introduced Wednesday by West Bengal Chief Minister Mamata Banerjee.
"Bengal today (Wednesday) launched a micro business credit card for small and medium businesses in the state in association with the State Bank of India," Banerjee said at the state secretariat Nabanna.
The Trinamool Congress supremo said with the help of this card, entrepreneurs could get easy loans without collateral security.
"Entrepreneurs would now be able to obtain cash credit or loan for business activity on easy terms," she said, adding the card would immensely benefit the entrepreneurs particularly in the Micro, Small and Medium Enterprises (MSME) sector.
"We have made a fund of Rs.200 crore. We have also opened facilitation and clearance centres in Bardhaman, Durgapur, Asansol and other places to speed up the clearance process," she added.