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Handloom clusters adopted by banks in Orissa
13
Jan '09
The industrial clusters form the backbone of the small scale industry in India. But due to their small size, the enterprises are unable to access credit facilities from banks. But that is all set to change now, with the leading banks in the country, adopting 48 industrial clusters in Orissa, a state, located on the eastern coast of India.

This move on the part of the banks is expected to improve the flow of credit and help in their overall development. These clusters range across all sectors like, handloom, foundry, engineering tools, food processing, pharmaceuticals etc.

The leading banks of India like State Bank of India, Small Industries Development Bank of India (SIDBI), Allahabad Bank, Andhra Bank, Punjab National Bank, United Bank of India and Bank of Baroda are involved in this coordinated project.

Among the clusters which have been adopted are the handloom cluster at Nuapatna, Khurda, Raisunakhala, Baragarh, Dhenkanal , Baripada and Athamallik and weaving cluster at Siminai. Along with these, some retail trade clusters in different towns also have been adopted.

Fibre2fashion News Desk - India

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