Financial Daily from THE HINDU group of publications
Saturday, May 04, 2002
Financial Daily from THE HINDU group of publications Saturday, May 04, 2002 |
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Money & Banking
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Public Sector Banks Industry & Economy - SSI Central Bank scheme for small industries Our Bureau
COIMBATORE, May 3 THE Laghu Udhyami Credit Card Scheme (LUCC) launched by the Central Bank of India aims at providing hassle-free financial support to small business units, retail traders, artisans, village industries, professionals and self-employed persons. The credit delivery channel has been simplified and the procedural aspects relating to reviews and renewals, submission of balance sheet, stock and other statements have been done away. Limits up to Rs 2 lakh is covered under the scheme. The interest rate does not exceed the bank's PLR, say Central Bank sources. The borrower is issued a photo card, indicating the sanctioned limit and the validity period of the credit facility.
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