West Bengal Bhabishyat Credit Card Scheme (WBBCCS)

West Bengal Bhabishyat Credit Card Scheme provide the Youth of West Bengal, who have entrepreneurial skill and want to be self-reliant by setting up micro enterprises, access to institutional finance for their credit needs. This will in turn facilitate the Youth to become self-employed leading to income generation, wealth creation, and creation of further employment opportunities in rural and urban areas of the State.

Eligibility Criteria of Bhabishyat Credit Card Scheme

• Indian national and residing in the state of West Bengal for past 10 years.

• Any eligible individual including Motor Transport workers and Building & other construction workers aged between 18 - 45 years.

• Only one person from one family is eligible under the scheme where the "family" mean self and spouse.

Annual income limit of family

No bar

Applicability of Bhabishyat Credit Card Scheme

Any income generating project in manufacturing, service, trading/business, farm sector (Diary, poultry, fish, piggery, etc) qulifying as an enterprise under the extant defination of MSMED Act 2006.
Both new unit and existing unit can apply under the scheme for Term loan and/or working capital loan/composite loan. However, a new unit set up under this scheme may be considered for 2" dose of capital support in machinery/tools or expansion only after two years of implementation.
All those applications that were sponsored under Karmasathi Prakalpa but not sanctioned as on 1* of April, 2023 will migrate to this scheme.

Non-applicability of Bhabishyat Credit Card Scheme

Employees of Central/ State Government/ Government Undertakings and their families will not be eligible to come under the purview of the Scheme.
Defaulter borrower in any Bank/Financial Institution.

Project cost of Bhabishyat Credit Card Scheme

Up to Rs. 5 lakh

Assistance under the Bhabishyat Credit Card Scheme

Government subsidy: In the form of margin money contribution @ 10% of the project cost with a ceiling of Rs. 25,000

Bank Loan: The Bank loan component will be the project cost minus eligible govt subsidy in the form of Margin Money contribution

How to apply for Bhabishyat Credit Card Scheme?

The following information are required to fill up during form submission-

Applicant Full Name, Father's / Mother's / Guardian's Name, Applicant Date of Birth, Gender, Full Address for communication and project location, Education Qualification, Applicant Category (SC/ST/PHC/OBC/Minority/General), Project Name, Project Cost, Co-operative Bank Name & Address.

Supporting Documents Required to upload for application form submission - Proof of Photo identity of the applicant, Proof of Residence, Educational Qualification Certificate, Detailed Project Report, Recent Passport Size Photograph and Applicant Signature.

Click on the "Login" button, a page will appear on the screen. If Users have already registered in this portal then Enter Username/Email (if entered during user registration), password and CAPTCHA (Image Code) and click on the "Log In" button.

After successfully logged in, the Applicant can see a link "Details" on the Dashboard. Click on the "Details" link. An applicant can view the application status after successful submission of online application form.

No, there is no provision to apply more than one application with the same user login credential in this portal.

Guarantee coverage

The scheme shall have provision of credit guarantee coverage for the credit facility extended by Lending Institutions in collaboration with Credit guarantee TrusI Fund for MSEs ( CGTMSF). The extent of guarantee coverage of the State Government over and above the available coverage under CGTMSE will be as follows:

i) Maximum coverage of CGTMSE: 85%

ii) Maximum coverage of the State Government: 15%

Annual Guarantee Fee (AGF)

CGTMSE wiII charge AGF a per norms on its share of guarantee coverage. However, there will no additional AGF for the additional guarantee coverage to be provided by the State Government.

Eligible Lending Institutions (L.I.)

All Scheduled Public Sector Banks, Private Sector banks, Regional Rural Banks, Small Finance Banks, Cooperative Banks and any other Lending Institution as may be prescribed.

Modalities of the scheme:-

(a) Mode of application:

(i) Project proposals will be invited from the prospective and potential entrepreneurs in all districts through advertisement.

(ii) The scheme will also be publicized in rural areas through Panchayati Raj Institutions. 

(iii) Applications are to be submitted online through a dedicated portal to be developed for the scheme.

(b) Screening of applications:

(i) To ensure sponsoring of quality applications to Lending Institutions, preliminary Block Level Screening Committee will be notified by the MSMET department for checking the applicants from the rural areas.

(ii) On receipt of project proposals from the entrepreneurs in rural areas, the Block Level Screening Committee will primarily check the proposals with respect to completeness of the forms. If any deficiency is noticed, the same needs to be notified to the concerned applicant for resubmission as soon as possible and in no case later than 15 days from submission.

(iii) The sponsoring of the applications will be done after the same is approved in the Sub-divisional level Sponsoring Committee, to be notified by the MSMET department.

(iv) For municipal areas, the Sub-divisional level Sponsoring Committee will screen and then sponsor the applications. In such cases, Executive Officer of the concerned municipality shall be included in the Committee.

(v) For Corporation areas including KMC, a separate committee will be notified by the MSMET department consisting of officials from corporation, MSMET Directorate Lead Bank, major related departments etc.

(c) Sponsoring of applications: Screened and complete applications will be sponsored to the banks within seven days on completion of screening.

(d) Sanction of project and Bank finance: 

i. On receipt of the sponsored applications, Bank will appraise the project and take credit decision within a stipulated time period of 21 days from the date of receipt of the sponsored applications. Banks shall sanction the project cost inclusive of Margin Money component and Bank loan portions and complete process of documentation.

ii. Banks shall upload the sanction letter in the portal and convey the sanction to the applicant (e-mail/hard copy). The concerned DIC will take note of the sanction from the portal.

iii. No collateral security / personal guarantee / 3rd party guarantee will be insisted upon by the Banks in line with the guidelines of RBI.

iv. On sanction of the loan application, the concerned applicant shall open an account in the concerned bank. If an applicant already has an account, the same can be used for this purpose.

v. Banks shall submit claims for release of subsidy to the State Government through designated format. Upon verification of the claim, the State Govt. will release the full subsidy amount for credit to the borrower's personal A/c under intimation to the Bank branch concerned. Upon receipt of the subsidy, the Bank shall disburse the sanctioned amount of loan and adjusted proportionate subsidy to the Bank A/c of the loanee. Bank shall also control withdrawal of the amount by the borrower through exercising Debit Freeze / lien covering the "Subsidy Amount Only" in the concerned account immediately upon receipt of the subsidy.

The admissible subsidy will be 'one time assistance', from Government. No subsidy will be available for any enhancement of credit limit for whatever reason of the same project financed under this scheme within 2 years of implementation. 

vii. Unspent / unutilized subsidy to be refunded by the concerned Bank branch, stating the reason, to the respective DICs immediately after 6 months from the date of receipt of the said subsidy. 

viii. Applications which do not conform to the scheme guidelines and which remain incomplete even after consultation and notification after the stipulated timeline will also be rejected by the DIC, recording reason for rejections. Reasons for rejection will also be conveyed to the applicant and to the screening committee.

Sponsoring of applications

Screened and complete applications will be sponsored to the banks within seven days on completion of screening.

Fees

There is no requirement for the submission of fees for online registration.