J&k Credit Card Scheme , check eligibility_ Apply
J&k Credit Card Scheme , check eligibility_ Apply
Sponsor Department: Handicrafts and Handloom Department
The Artisan Credit Card Scheme has been devised by Indian banks Association (IBA) to provide hassle free credit facility to artisans. The scheme approved by R.B.I. and the Development Commissioner (Handicrafts) has been adopted by the Banks for implementation.
Objective
- The objective of the ACC scheme is to provide adequate and timely assistance from the banking institutions to the artisans to meet their credit requirements of both investment needs as well as working capital, in a flexible and cost effective manner. The scheme would be implemented both in rural and urban areas.
- All artisans involved in production/ manufacturing process are eligible
- Thrust in financing clusters of artisans and Self Help Groups (SHGs)
- No collateral security
- Beneficiaries will be issued with a photo card indicating sanctioned limit and validity period of credit facility.
- Credit limit would be fixed based on assessment of working capital requirements.
- A maximum of credit limit of Rs. 2.00 lacs.
- Beneficiaries registered with Development Commissioner (Handicrafts) would be eligible for coverage under group insurance scheme.
More Updates