- The Economic Times
Credit card scheme soon for MSMEs
The government is giving the final shape to a Merchant Credit Card (MCC) Scheme for traders and a Vyapar Credit Card (VCC) for microunits, in a move aimed at giving them further credit support, officials in the know said. While the VCC may offer an interest-free credit period of up to 50 days and an around 85% coverage under the Credit Guarantee Fund for Micro Units, the MCC scheme may offer loans to merchants at a subsidised interest rate, similar to the Kisan Credit Card.