Student Credit Card

About Us

Contact Email-Id : -

Student Credit Card awareness camp. Date: 23/12/2021 Venue: Asutosh College Main Building. Time : 11am onwards

INTRODUCTION

The government of West Bengal has introduced the Student Credit Card Scheme for the
students of West Bengal to enable them to pursue education without having any financial
constraints. This scheme would support the students to pursue secondary, higher secondary,
madrasah, undergraduate, postgraduate studies and professional degrees including other
equivalent courses in any School, Madrasah, College, University and other affiliated institutes within and outside India.
This Student Credit Card will enable the students to get a soft loan of up to Rs 10 lakh @4% per annum simple interest from the State Cooperative Bank and its
affiliated Central Cooperative Banks and District Central Cooperative Banks and Public/ Private Sector Banks.
Our honourable Chief Minister Smt. Mamata Banerjee has estimated that 1.5 crore beneficiaries will be covered under the “West Bengal Student Credit Card Scheme”.

Year of inauguration of the scheme

2021

The Beginning

Our honourable Chief Minister Smt. Mamata Banerjee has launched the “West Bengal students Credit card Scheme”, developed by NIC [National Informatics Centre, under the Ministry of Electronics and Information Technology (MeitY)],West Bengal on 30th June 2021.The decision to launch this scheme was taken in a state cabinet meeting which was held on 24 June 2021.

Objectives

  • To provide hassle free and collateral security free Loan to the Students, belonging to West Bengal, with nominal simple interest (4%) for a maximum amount of Rs. 10.00 Lakhs to the Students pursuing studies within and Outside the State of West Bengal or abroad.
  • To provide higher education without having any financial constraints.
  • Now each and every student of West Bengal will be able to get higher education.
  • This scheme will definitely reduce the unemployment rate among the young citizens of West Bengal because the more students will going to get financial facilities than before to continue their higher studies without taking additional burden.

Benefits offered

Students studying in class 10th or above will be able to take benefit of this scheme and the must be living in West Bengal for the last 10 years to avail the benefit of this scheme.West Bengal Student Credit Card can also be availed for undergraduate, postgraduate, doctoral, and postdoctoral studies in India or abroad. The benefit of this scheme can be availed till 40 years of age. If the interest is fully serviced within the study period, there will be a rebate of 1% interest rate.

Purpose of the Scheme

  • Course fee payable to College/University/ H.E. Institute (includes tuition fees, examination fees, library fees, etc)
  • Fees for Caution Deposit/ Building fund/ Refundable deposit (supported by Institution’s bills).
  • Fees required for accommodation in College/ University / H.E Institute hostels
  • Rent / License fee for living outside hostel, or expenses for living as Paying Guest.
  • Cost for purchasing Books / Computers /Laptops/ Tablets etc.
  • Other expenses required for completion of course, such as, study tours, project works, thesis etc.
  • A student can incur expenditure up to 30 % of the total loan sanctioned for non-institutional expenses for the whole course of study.
  • Up to 20% of the total loan sanctioned can be used as living expenses for the duration of the course.

Details of the Scheme

  • Student should be an Indian National. The student or his family should be a resident of West Bengal for last 10 years.
  • Student must get himself enrolled for studying in class X / Higher Secondary / UG/ PG courses, including Professional and Diploma courses within or outside the state of West Bengal or abroad or studying in coaching institute for competitive examinations like UPSC / PSC.

Repayment & moratorium

There will be a moratorium or repayment holiday of one year after completion of the study. Repayment period shall be maximum fifteen (15) years for any loan availed including the Moratorium/ repayment holiday.

Present Status of the Scheme

As on 05.10.2021 we have received total 162 applications among them 136 applications have been forwarded to Higher education department to process further. We have returned back 54 applications to the applicant mentioning the mistake they have done at the time of online form fillip. Not only that most of the time we personally call and guide the students.

Nodal Officer

Sri Supriyo Das
Assistant Professor in B.B.A
&
Head, Department of B.B.A