Bhabisyat Credit Card: DMs told to form Project Monitoring Unit

Kolkata: The state MSME and Textiles department has directed all district magistrates to constitute Project Monitoring Unit (PMU) for dealing with loan applications under the West Bengal Bhabisyat Credit Card Scheme (WBBCCS) which is slated to be launched from April 1 through acceptance of applications in the sixth edition of Duare Sarkar (Government at Doorstep) that kicks off on that day.

Principal Secretary of MSME and Textiles department Rajesh

Pandey has written to the DMs that the formation of PMU at the district level and sub-division level is necessary for providing handholding support to the applicants while filling in applications in respect of documentation, preparation of project reports, uploading the approved applications online and forwarding the same to different banks.

Three per cent of the total subsidy claimed and approved in a district can be used for meeting the expenses for running the PMUs.

In the gazette notification in connection with the WBBCCS, the department has directed for the formation of a state-level monitoring committee, screening committees in block level, sponsoring committee for KMC area, sponsoring committee for municipal corporations other than KMC and sub-divisional sponsoring committee for municipal and rural areas to sponsor quality applications to banks so that rejection rate is minimum.

The scheme extends guarantee coverage of 95 per cent no collateral security/ personal or third-party guarantee will be required by the banks for approving the loans. The target of coverage is 2 lakh youth per year.