How to Apply for WB Bhavishyat Credit Card Scheme Online?

Eligibility Criteria for the West Bengal Bhavishyat Credit Card Scheme

West Bengal Bhavishyat Credit Card Scheme (WBBCCS) is a credit card scheme launched by the Government of West Bengal to provide easy credit to the citizens of West Bengal. The scheme targets people who have no security or collateral to offer and offers various benefits such as low-interest rates, no collateral, and free equity insurance. WBBCCS is a great option for people who are looking for a convenient loan facility in West Bengal. It is a credit card specially designed for the needs of farmers, fishermen, weavers, and other small traders of the government. This scheme aims to provide financial assistance to these individuals so that they can grow their businesses and improve their livelihoods.

What is Bhavishyat Credit Card?

Bhavishyat Credit Card is a credit card offered by the Government of West Bengal to provide financial assistance to the small traders, farmers, fishermen, and weavers of the state. The card allows the cardholders to take credit facilities from the bank to invest in their businesses.

Overview of the West Bengal Bhavishyat Credit Card Scheme

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Who is Eligible for Bhavishyat Credit Card Scheme?

To be eligible for the West Bengal Bhavishyat Credit Card Scheme, the applicant must meet the following criteria:

• The applicant must be a resident of West Bengal.
• The applicant must be engaged in Any income-generating project in manufacturing, service, trading/business, /farm sector (Dairy, Poultry, Fisheries, Piggery, etc.), etc.
• All those applications that were sponsored under ‘Karmasathi Prakalpa’ but not sanctioned as of 1st of April, 2023 will migrate to this scheme.
• Only one person from a family, which includes the person and their spouse
• The applicant must be between the ages of 18 and 60 years.
• The applicant must have a good credit history.
• Project Cost should be under Rs. 5 lakh

Who are not Eligible?

• Individuals who are employees of the Central/State Government or Government Undertakings and their families are not eligible to participate in the Bhavishyat Credit Card Scheme.
• Individuals who are defaulters in any Bank or Financial Institution are also not eligible to apply for the scheme.

Bhavishyat Credit Card Financial Assistance Benefits

Under the West Bengal Bhavishyat Credit Card Scheme, financial assistance is provided to eligible beneficiaries in the form of a loan and government subsidy. The details of the financial assistance are:

Government subsidy: The government subsidy is provided in the form of a margin money contribution, which is 10% of the project cost with a ceiling of Rs. 25,000.

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Bank loan: The bank loan component will be the project cost minus eligible government subsidy in the form of margin money contribution.

Guarantee coverage: The scheme has a provision of credit guarantee coverage up to 100% for the credit facility extended by lending institutions/banks in collaboration with the Credit Guarantee Trust Fund for MSEs (CGTMSE). The extent of guarantee coverage of the State Government over and above the available coverage under CGTMSE for all eligible borrowers will be as follows:

i) Maximum coverage of CGTMSE: 85%
ii) Maximum coverage of the State Government: 15%

Annual Guarantee Fee (AGF): CGTMSE will charge AGF as per norms on its share of guarantee coverage. However, there will be no additional AGF for the additional guarantee coverage to be provided by the State Government.

Where to get Bhavishyat Credit Card Financial Assistance?

All Scheduled Public Sector Banks, Private Sector Banks, Regional Rural Banks, Small Finance Banks, Cooperative Banks, and any other Lending Institution are eligible to provide financial assistance under the scheme.

Required Documents Bhavishyat Credit Card Scheme

The following documents are required to apply for the Bhavishyat Credit Card:

• Proof of Photo Identity (Aadhaar card, Voter ID card)
• Proof of Residence
• Proof of Age
• Passport size photograph
• Detailed Project Report

What is Model Schemes/DPR and How to Get it?

Model Schemes/DPR (Detailed Project Report) refer to the standardized and detailed plans for a project that can be replicated across multiple locations or sectors. These model schemes or DPRs act as guidelines for implementing agencies, helping them to effectively plan and execute projects while ensuring consistency and quality.

To apply for West Bengal Bhavishyat Credit Card you have to submit a Model Schemes or DPR along with the documents. To simplify the process there are listed all types of Model schemes/Projects by their category. The common category is:

• Agro Based Enterprises
• Animal Production
• Chemical Industries
• Electrical Industries
• Food Products
• Handicrafts
• Leather Products
• Mechanical Industries
• Service & Repairing Enterprises
• Textile & allied products enterprises
• Trading & allied activities
• Wooden Products & allied activities
• Other

How to Apply for Bhavishyat Credit Card

To apply for the West Bengal Bhavishyat Credit Card, the applicant needs to follow these steps:

Offline Process:

• Go to the official website of the West Bengal Bhavishyat Credit Card Scheme (WBBCCS)
• Click on the ‘Online Apply Option’ option from the menu.
• Find the ‘Blank Form of Bhavishyat Credit Card’.
• Download it in PDF Format
• The file of the application form and Attech the required Documents
• Submit it to your Block Development Office Concern Department or Duare Sarkar Camp.

Online Process:

• Go to the official website of the West Bengal Bhavishyat Credit Card Scheme (WBBCCS)
• Click on the ‘Online Apply Option’ option from the menu.
• First Register as a New User with information like ‘Individual name, ‘valid email’, and ‘valid mobile no.
• Login with proper credentials.
• After that, fill-up the necessary information
• An OTP will be received on the registered email/Mobile no. to complete the registration process accordingly.

Document Size for Online Application:

• PDF file size maximum 2 MB
• Photo – Should be 20 KB – 100 KB and 350 X 350 pixels
• Signature – Dimensions are 200 x 230 pixels and should be between 20 KB to 50 KB

Bhavishyat Credit Card Scheme Process Flow

The process flow for availing of the West Bengal Bhavishyat Credit Card Scheme is as follows:

1. Advertisements will be made to invite project proposals from prospective and potential entrepreneurs.
2. Panchayati Raj Institutions will be used to publicize the scheme and encourage people to submit their applications.
3. Applications will be submitted online through a dedicated portal.
4. The Block Level Screening Committee will do a preliminary screening of the applications.
5. Complete applications will be sponsored by banks for finance.
6. Banks will appraise the project and take a credit decision within 21 days of receiving the sponsored applications.
7. Banks will upload the sanction letter on the portal and convey the sanction to the applicant.
8. No collateral security / personal guarantee / 3rd party guarantee will be insisted upon by the Banks in line with RBI guidelines.
9. Upon receipt of the subsidy, the Bank will disburse the sanctioned amount of the loan and adjust the proportionate subsidy to the Bank A/c of the loanee.
10. The performance of the scheme and the functioning of sanctioned and disbursed projects will be periodically monitored at the district level by the District Level Bankers Committee.
11. A State Level Committee will also be constituted for performance monitoring of the scheme.
12. Project Monitoring Units will be formed to provide handholding support to the applicant concerning filling up the application form, documentation, and preparation of the project report.

Who Conducted the Bhavishyat Credit Card Scheme?

Under the Bhavishyat Credit Card Scheme, the following entities are involved in the implementation and conduct of the scheme:

Participating Banks: Banks that are registered with the Reserve Bank of India (RBI) and have been authorized to provide credit facilities under the scheme.

Farmers: Farmers who are eligible for the scheme can apply for a Bhavishyat Credit Card to avail of credit facilities.

District Level Technical Committee: A committee formed at the district level to assess the credit requirements of the farmers and recommend the credit limit for each farmer.

District Level Review Committee: A committee formed at the district level to review the progress of the scheme and ensure its effective implementation.

State Level Bankers Committee: A committee formed at the state level to coordinate the implementation of the scheme across different banks and ensure its smooth functioning.

State Level Review Committee: A committee formed at the state level to review the progress of the scheme and provide feedback for improvement.

Helpline

If you encounter any technical issues or face difficulties while submitting your application, you can contact our helpline at 03322622004. The helpline is available from 10 am to 6 pm, Monday to Friday (excluding holidays).

Conclusion

West Bengal Bhavishyat Credit Card Scheme is an excellent initiative of the West Bengal Government to provide financial assistance to small traders, farmers, fishermen, and weavers of the state. The system was created keeping in mind the unique needs of these people, and the credit limits offered by the system are very useful for them. If you qualify, you should consider applying for a Bhavishyat credit card to grow your business and improve your livelihood.

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