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NABARD extends helping hand to rural handicraft industry

06
Dec '08
National Bank for Agriculture & Rural Development (NABARD) was specifically set up to boost the growth and aid in the development of the rural regions in India. Among its activities, NABARD has taken the onus for helping and supporting artisans working in the handicraft sector in these rural areas.

The Bank also has a Rural Innovation Fund (RIF), under which it allocates funds to sponsor artisans at various seminars and fairs meant to showcase the products of these people. The corpus of this fund is spent on providing credit to these artisans who cannot avail credit from conventional sources, since they come under the high risk category.

Under the RIF, NABARD directly deals with the organizers of the fairs by booking adequate number of stalls and letting them out to needy and skilled artisans to display their wares and also provides them with basic facilities. Among its other activities are providing help to members of Self Help Groups (SHG).

These SHGs have been instrumental in the growth of these artisans by helping them source for raw materials and provide training to upgrade their skills.

Fibre2fashion News Desk - India


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