Laghu Udhyami Credit Card

The Laghu Udhyami credit card has been launched to offer hassle-free credit to small businessman, retail traders, artisans, professionals, self-employed persons and small industrial units. Customers with a satisfactory track record with banks will be eligible for the new card.

They must have a working capital limit of Rs 2 lakh for the last three years. The card will be valid for three years and enhancement of the facility will be based on periodic reviews done by the banks.

The limit will be restricted to 20 per cent of annual turnover for artisans, businessmen, traders and small entrepreneurs. For self-employed and professional persons, the limit will be 50 per cent of gross annual income. The maximum limit per party credit card will be Rs 2 lakh. -- BL Research Bureau