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Swarojgar Credit Card

NABARD with Ministry of Finance

Swarojgar Credit Card (SCC) Scheme was introduced in September 2003 for providing adequate, timely and uninterrupted credit, i.e., working capital including consumption needs and/or block capital requirements to the small artisans, handloom weavers and other self -employed persons including micro-entrepreneurs, SHGs, etc., from the banking system in a flexible, hassle free and cost effective manner.

Scheme Benefits & Highlights
  • Under this scheme a credit card along with a passbook is issued to the applicant for working capital requirements/Block capital. 
  • Rs. 25,000/ per borrower as composite loan is given under this scheme. The security norms, interest and margin will be as per RBI's norm and is updated over the RBI Website. This is given for a period of five years.
  • The initial investment in fixed assets and/ or working capital requirement / recurring expenditure of the borrower are to be taken as the base for fixing the limit.The working capital/ recurring expenditure limit may be in the form of a revolving cash credit and fixed as a percentage of the turnover divided by the number of operating cycles per annum. 
  • The credit card holder under this scheme will covered under Group Insurance Scheme whose cost will be borne by the bank and the burrower equally. 
  • The charge of issue or processing of card won't exxceed Rs. 50.
  • This scheme is even extended to SHGs. 
Registration Process

The Scheme is to be implemented by all Commercial Banks, RRBs, State Cooperative Banks/ DCCBs/PACS, SCARDBs/PCARDBs and Scheduled Primary Cooperative Banks. 

Opening a Savings Banks Account is not a pre-condition under this scheme, however if the burrower wants an account, then he can apply for the same.

Eligibility Criteria

Micro-entrepreneurs, Mall artisans, Handloom weavers, Service sector, Fishermen, self employed persons, rickshaw owners, other micro-entreprises, etc. are eligible. 

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