Now,Banaras weavers,artisans to get credit cards

With a credit limit of Rs 25,000 and simple interest of 9 per cent,the credit card will be first of its kind for the weavers. The cards will be distributed by the Chairman and Managing Director of Allahabad Bank,K R Kamath.

“Though artisan credit cards were earlier promoted by the government,this is the first programme designed to benefit the weaver’s community,especially minority and women weavers,” said P C Gananayak,Assistant General Manager,Allahabad Bank,Varanasi.

“The weavers and artisans will only need to present their artisan licence provided by the Handloom and Handicraft Department,” he added. “The financial condition of the weavers needs to be strengthened for their development. With the credit cards,they will be less dependent on the money lenders to procure raw material,” said Rajanikant,general secretary of Human Welfare Association,a petitioner in the GI. “The scheme concentrates not only on weavers but other artisans of Varanasi like wood work,metal work,gulabi meenakari,” he added.

“Weavers and artisans are a source of secured lending as they have little chance to turn defaulters and under Credit Guarantee Scheme of the Central government,the bank is sure to recover 75 per cent of the loan if they default,” added Gananayak.