Atmanirbhar Hastshilpkar Scheme

• IAS NEXT, Lucknow
• 15, Dec 2021

Reference News-

Recently, the Atmanirbhar Hastshilpkar Scheme has been announced for the Artisans of the North Eastern Region under the Ministry of Development of North Eastern Region.

• About:
  • Financial assistance will be provided to the grass root Artisans of the region in the form of term loan for income generating activities for setting up / expansion / modernization / working capital requirement and other activities related to the sector.
  • During the announcement, credit assistance of Rs 1 lakh each was provided to as many as 17 artisans.
    • The credit facility is collateral-free and carries a subsidized interest rate of 6% p.a., which is repayable in 24 months.
    • For regular repayment, an incentive of 1% on the interest rate is provided, which will be refunded to the artisans on successful repayment of loans.
• Eligibility:
  • Registered/ unregistered artisan/ Individual
  • Having valid qualification or practicing any art form
  • No existing loan from any other bank/ financial institution
  • Bank Account
  • Launched by:
    North Eastern Development Finance Corporation Ltd. (NEDFi).

NEDFi

• NEDFi is a premier financial institution in the North-Eastern Region.
• It has completed an eventful twenty-six years since its establishment in 1995.
• Over the years, the Corporation has provided loans to over 7500 projects and taken up several development initiatives through its Corporate Social Responsibility (CSR) activities in the eight states of North-East India.