Loans can be taken without mortgaging the property

Small traders will soon be able to get business credit cards like Kisan Credit Card. The Confederation of All India Traders (CATA) had called on Prime Minister Narendra Modi to issue trade credit cards, a proposal that has been accepted by the Finance Ministry’s standing committee.

According to sources, it is recommended to give a loan without mortgaging any item without a trading card. CAT national president Praveen Khandelwal said efforts were being made to keep traders playing with money. Currently, the size of MSMEs is growing as large as the agricultural sector. With the help of Kisan Credit Card, traders will be able to use Business Credit Card in the same way that farmers take short and long-term loans to buy seeds.

More and more traders need to register on MSMEs.

Business Credit Cards – The Committee has recommended that only Business Credit Cards be issued to traders registered on the Enterprise Portal of the Ministry of MSMEs. There are billions of merchants who have not registered on the portal. – Unregistered entrepreneurs will also be linked to the portal due to the introduction of trade credit cards. Business credit cards will be of great benefit to street vendors, grocers, and many shopkeepers in town and city.

The Business Credit Card is expected to be launched nationally, with the Small Business Development Bank of India (SIDBI) acting as the nodal agency for the business credit card. The Standing Committee of the Ministry of Finance has also discussed the matter with the Ministry of Finance and various banks.

Some banks offer credit cards to merchants at their level. However, this only benefits certain traders. . According to the committee’s recommendations, the government needs to introduce trade credit cards nationally in consultation with major banks in the country. This will bring uniformity to the card and benefit everyone.