Bankers agree to issue ‘Bhobishyot’ credit cards in Bengal: Amit Mitra

If all goes well, 2 lakh youths will start businesses this year.

Bankers have unanimously agreed to issue 'Bhobishyot' credit cards as proposed by the West Bengal government to extend youths a loan of Rs 5 lakh for starting new business ventures, said Amit Mitra, principal chief advisor to Chief Minister Mamata Banerjee.

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.

''The state will provide 15 per cent guarantee money, and 85 per cent loan guarantee through credit trust established by consumer durable loan (CDB) for small and medium industrialists. ''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.

Banerjee had announced the 'Bhobishyot' credit card scheme during the budget session of the assembly. A gazette notification has also been issued in this regard.