Matsyajibi Credit Card 2024: Eligibility Criteria And Application Process

What is Matsyajibi Credit Card Scheme?

The Matsyajibi Credit Card Scheme was introduced by the Government of West Bengal in 2022 with a clear objective: to provide financial support for fishermen and fish farmers. This initiative aims to facilitate access to short-term institutional credit, addressing the working capital needs of individuals involved in aquaculture and fisheries. By doing so, the scheme seeks to reduce reliance on non-formal lending sources, which often come with high interest rates and unfavorable terms.

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Objectives Of The Scheme

The primary objectives of the Matsyajibi Credit Card Scheme include:

• Financial Inclusion: Enabling fish farmers and fisher folk to access institutional credit.
• Economic Stability: Providing financial stability through concessional interest rates and flexible repayment terms.
• Self-Sufficiency: Promoting self-sufficiency among beneficiaries by enhancing their capacity for income generation.
• Sector Growth: Supporting the overall growth of the fisheries sector by ensuring timely availability of funds.

Primary Beneficiaries

Identifying the main beneficiaries is crucial for understanding the impact of this scheme:

Fish Farmers:

• Small and Marginal Farmers: Individuals engaged in small-scale aquaculture activities who often struggle with financial resources.
• Large Scale Fish Farmers: Those involved in larger operations but still require financial backing for expansion and sustainability.

Fisher Folk:

• Traditional Fishermen: Individuals who rely on fishing as their primary source of livelihood.
• Ancillary Workers: People involved in related activities such as dry fish processing, fish vending, and other subsidiary roles within the fisheries sector.

By targeting these groups, the Matsyajibi Credit Card Scheme aims to uplift an integral part of West Bengal’s economy. The scheme not only enhances financial resilience but also contributes to the socio-economic development of rural areas where aquaculture plays a vital role.

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Matsyajibi Credit Card Scheme Overview

Scheme Name	Matsyajibi Credit Card Scheme
Launched by	Government of West Bengal
Year Introduced	2022
Target Beneficiaries	Fish farmers, fishermen, and ancillary workers in fisheries sector
Maximum Loan Amount	Rs 2,00,000
Collateral-free Loan Limit	Up to Rs 1.6 lakh
Interest Rate	7%
Interest Rebate	3% on timely repayment
Repayment Terms	Flexible, aligned with harvesting and marketing cycles
Key Benefit	Access to short-term institutional credit without reliance on informal lenders

The Matsyajibi Credit Card Scheme is an important initiative that provides financial assistance to fish farmers and fishermen, ensuring they have the necessary resources for their operations. This scheme is especially beneficial for those in the aquaculture sector, allowing them to access short-term institutional credit without relying on non-formal lending sources.

Key Points Of The Matsyajibi Credit Card Scheme

• Loan Amount: Beneficiaries can avail loans up to Rs 2,00,000. Notably, loans up to Rs 1.6 lakh require no collateral.
• Interest Rate: The interest rate is set at 7%. An additional benefit includes a rebate of 3% if the loan is repaid on or before the due date.
• Repayment Terms: Repayment is aligned with the harvesting and marketing cycles, providing flexible withdrawal options within the credit limit.

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Importance For Fishermen And Fish Farmers

This scheme addresses a critical need by reducing reliance on informal lending sources, often characterized by high-interest rates and stringent terms. By offering concessional interest rates and flexible repayment terms, it empowers fish farmers and fishermen to invest in better equipment, feed, and other necessities that enhance productivity. The financial stability provided by this scheme fosters self-sufficiency and augments income generation within the fisheries sector.

These features highlight how the Matsyajibi Credit Card Scheme not only supports individual livelihoods but also strengthens the broader aquaculture industry in West Bengal.

Overview Of The Scheme

The Matsyajibi Credit Card 2024 is a strategic initiative by the Government of West Bengal, specifically under the aegis of the Department of Fisheries. This scheme is meticulously crafted to extend financial support to fish farmers and fisher folk. By providing accessible short-term credit, it aims to empower beneficiaries with the necessary resources for aquaculture and fisheries operations.

Purpose Of The Scheme For Aquaculture And Fisheries

The primary goal of the Matsyajibi Credit Card scheme is to:

• Enhance the productivity and profitability of fish farming.
• Facilitate easy access to institutional credit, reducing dependency on informal lending sources.
• Encourage sustainable practices in aquaculture by offering financial assistance for equipment, feed, and other essential inputs.

This scheme targets both individual fish farmers and groups involved in various fisheries-related activities. With flexible loan options and favorable repayment terms, it supports the entire lifecycle of aquaculture operations—from pond preparation to harvesting and marketing.

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Launch Event

Introduced in 2022, the Matsyajibi Credit Card scheme represents a significant milestone in West Bengal’s efforts to bolster its fisheries sector. The initiative was launched as part of a broader strategy to promote self-sufficiency and income generation among communities reliant on fishing activities.

Key historical points include:

• The scheme’s inception aligns with state-level objectives to modernize aquaculture practices.
• Initial roll-out phases focused on creating awareness through local governance bodies and community outreach programs.
• It reflects an ongoing commitment by the West Bengal government to support rural livelihoods through well-structured financial products.

By understanding these foundational aspects, beneficiaries can better appreciate how this scheme integrates into the larger framework of state-supported agricultural development.

Benefits

The Matsyajibi Credit Card Scheme offers a range of advantages for beneficiaries, aimed at enhancing financial stability and promoting income generation within the fisheries sector. Below are some key benefits of this scheme:

Read Also –National Livestock Mission (NLM) Scheme 

Access to Credit Without Collateral

• No Collateral Required: For loans up to Rs 1.6 lakh, beneficiaries do not need to provide any collateral, making it easier for small and marginal fish farmers to access necessary funds.
• Loan Amount: Eligible applicants can avail loans up to Rs 2,00,000, providing significant financial support for their aquaculture activities.

Concessional Interest Rates

1. Interest Rate: The interest rate on the Matsyajibi Credit Card is set at a competitive 7%, making it an affordable option for fish farmers.
2. Rebate on Timely Repayment: A rebate of 3% is offered if the loan is repaid on or before the due date. This incentive encourages timely repayment and reduces the overall financial burden on beneficiaries.

Flexible Repayment Terms

• Post-Harvesting Repayment: One of the most significant benefits is the flexibility in repayment terms. Beneficiaries can repay the loan after harvesting and marketing their produce, aligning loan repayment with their cash flow cycles.
• Flexible Withdrawal Options: Within the sanctioned credit limit, beneficiaries have flexible withdrawal options, allowing them to manage their finances more effectively.

Enhanced Financial Stability

• Reduced Reliance on Non-Formal Lending: By providing easy access to institutional credit, the scheme reduces dependency on informal lending sources that often come with high-interest rates and unfavorable terms.
• Promotes Self-Sufficiency: With better access to credit, fish farmers can invest in quality inputs and modern techniques, thereby increasing productivity and self-sufficiency.

Income Generation

• Boosts Income Levels: The financial support provided through this scheme enables fish farmers to expand their operations, leading to higher income levels.
• Encourages Ancillary Activities: The scheme also supports individuals engaged in ancillary activities related to fisheries, such as dry fish processing and fish vending, further contributing to income generation within the community.

By offering these benefits, the Matsyajibi Credit Card Scheme aims to empower fish farmers and fisherfolk in West Bengal, fostering economic growth and sustainable development in the fisheries sector.

Eligibility Criteria

1. Applicants must be permanent residents of West Bengal.
2. Proof of residency such as voter ID or Aadhaar card is required.
3. Fish Farmers: Small and marginal fish farmers who cultivate fish on their own or leased land.
4. Fishermen: Individuals who engage in fishing activities as their primary source of income.
5. Ancillary Workers: Those involved in dry fish processing, fish vending, and other auxiliary services.
6. Self-Help Groups (SHGs): Groups formed by individuals engaged in fish farming or related activities.
7. Joint Liability Groups (JLGs): Groups where members take joint responsibility for loans.
8. Fish Producer Groups: Collectives of fish producers to increase bargaining power and market access.
9. Fish Farmer Producer Organizations (FFPOs): Organized groups focusing on enhancing productivity and marketing.

Documents Required

• Voter ID card
• Ration card
• Utility bills (electricity, water, gas) with the applicant’s name and address
• Passport
• Aadhaar Number
• Fisher Identification Card
• Passport-sized Photograph
• Ownership-related Documents

How To Apply Online For The Matsyajibi Credit Card Scheme 2024?

• Visit the official website of the West Bengal Fisheries Department.
• Locate the Matsyajibi Credit Card Scheme section on the homepage.

• Register or log in by providing your basic details and verifying with OTP.
• Fill out the application form with personal, contact, identification, and fishery details.
• Upload scanned copies of required documents like proof of residency, Aadhaar number, Fisher Identification Card, passport-sized photograph, and ownership-related documents.
• Review all entered information and uploaded documents for accuracy.
• Submit the application.
• Receive an acknowledgment receipt with a unique application reference number.
• Track application status by logging into your account using your credentials and referencing your unique application number.

How To Apply Offline For The Matsyajibi Credit Card Scheme?

• Locate a Duare Sarkar Camp: Check the schedule and locations of the nearest camps online or through community announcements.
• Gather Required Documents: Proof of Residency (e.g., Voter ID card, utility bill), Aadhaar Number, Fisher Identification Card, Passport-sized Photograph
• Ownership Documents related to aquatic territories (if applicable)
• Visit the Camp: Go to the camp with originals and photocopies of documents.
• Fill Out the Application Form: Get and complete the application form at the camp.
• Submit Your Application: Hand in your form and documents for verification by officials.

FAQ