Explanation:

West Bengal Cabinet approved the “Student Credit Card scheme” on June 24, 2021. Trinamool Congress had promised to launch this scheme in its election manifesto.This scheme will be implemented and launched on June 30, 2021. Under the scheme, student can get a soft loan of up to ?10 lakh with the help of credit card to enroll into higher studies. Loans will be given for higher studies in India as well as abroad. Loans will be given at 4% interest rates. State government would act as guarantor.