Canara Banks Laghu Udhyami Card

Bangalore: Canara Bank has introduced the Laghu Udhyami Credit Card to provide free credit to small borrowers under the retail trade, small business, artisans, village and small industries and professionals.

A bank release said the credit limit on this card will be Rs 2 lakh for meeting working capital requirements. All borrowers having three years of dealing with the bank will be eligible for the credit card.

The release said it will also work cheaper for the borrowers, as they have the liberty to credit their surplus cash and withdraw it later. This is because an interest is charged only on the outstanding portion in the credit card account.