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Weavers Credit Card New Credit Card for Weavers by SBI

In an attempt to revive the rural economy and the dying handloom culture of the Indian Arts and crafts, the State Bank of India has initiated a wonderful scheme that is set to revolutionize the very basis of this rural economy and their apprehension towards the banking system which so far has been a harsh one for them.

The State Bank of India in its endeavor to ensure a better society for the weaker financial stratas has come out with a unique idea of a special credit card for the weavers in the rural areas.

The State Bank of India plans to initiate and later implement this idea on a fully fledged nationwide   level that would provide benefits and financial assistance to the weavers.

The credit card would allow the weavers to take up short term loans for their business which will have easy paying options so that the weavers are not forced to leave their principle occupation and continue to provide excellent handloom products for its growing national and international market.

The State Bank of India with approved sanctions and patronage from the Central Government of India collaborated with Textile and Handloom Board to bring out this fabulous scheme.

There is an absolute ease in applying for these Credit Card for weavers. The State Bank of India with its extensive and extended branches across the country registers weavers and their business and opens a bank account for them specially.

These special credit cards are later linked to those bank accounts that provide specialized financial assistance to these special economic spaces in the rural frontier. These special accounts have a different interest rate and the credit card and its installments have also been simplified and eased out for these weavers.

The State Bank of India with the collaborated efforts of other government establishments also organize extensive awareness campaigns in the rural heartlands that invite weavers to take full advantage of this and work harder towards the establishment of their goals.

The detailed weaver’s scheme also deals about the much needed revival of the fraternity and the very culture of handloom which it plans to achieve by offering special waivers in the total working capital of the weavers. The weavers can also avail the same services against their term loans which are offered to individual weavers.

State Bank in its efforts to save the dying art has made the red tape minimal and small and easy paper work allows access to these multipurpose cards that are reviving the weaving culture.

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