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  Handicrafts  
     

Introduction
Handicraft activities occupy an important position in the economic structure of J&K State. Being environment friendly, these activities are best suited to the state as they are more labour intensive and less capital intensive in nature, thus having scope for employment generation at a large scale. The Kashmir handicraft products have earned worldwide fame for their attractive designs, functional utility and high quality craftsmanship. In absence of other manufacturing industries in the state, handicrafts remained a key economic activity from time immemorial. The artistic imagination and craftsmanship of the Artisans reflected through a wide range of products, has delighted the connoisseurs world over for centuries. Crafts like Shawls, Crewel, Namdha, Chain Stitch, Wood Carving, Paper Machie, Costume Jewellery, Kani Shawls and the Carpets hold a significant share in the overall production and export of the State. Silken carpets in particular constitute a specialty having no parallel in quality and design at national level and, therefore, occupy an important position in the international market. The handicraft sector of the state has great contribution towards foreign exchange earnings of the country.


Artisan Credit Card Scheme:
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.

Eligibility

  • All artisans involved in production/ manufacturing process (and otherwise eligible for credit facilities, for carrying out the proposed activities under any existing bank schemes) would be eligible.
  • Preference would be given to artisans registered with Development Commissioner (Handicrafts).
  • Thrust of financing would be on clusters of artisans and artisans who have joined to form Self Help Groups.
  • Beneficiaries of other Government sponsored loan schemes will not be eligible for coverage under ACC scheme.

Issue of Cards:

  • Beneficiaries will be issued a photo card indicating sanctioned limit and validity period of credit facility.
  • Will also be issued a passbook or a credit cum passbook incorporating name, address, borrowing limit, validity period, etc.

Fixation of credit limit:

  • Credit limit would be fixed on the basis of assessment of working capital requirements as well as cost of tools and equipments required for carrying out manufacturing process.
  • The maximum credit limit to be sanctioned under the scheme would, however, be Rs. 2.00 lacs.
  • The limit is to be utilized as revolving cash credit and will provide for any number of drawls and repayments within the limit. As the limit sanctioned would normally have a validity of 3 years the need to accommodate incremental working capital requirements may be kept in view.

Margin


Upto Rs.25000

Nil

Over Rs.25000 and upto Rs.1.00 lac

20%

Over Rs.1.00 Lac and upto Rs.2.00 Lacs

25%

Validity/ renewal of limits

  • The ACC limit could normally be valid for a period of three years subject to the annual review of the bank. For the purpose of annual review the borrower may not be required to submit any financial statement. Based on assessment of performance during the inspection by the field staff and operations in the account, the review exercise may be carried out annually and decision on continuation or otherwise of the limit sanctioned may be taken.
  • Need for enhancement in the limit sanctioned may also be considered as a part of the review. No fee will be charged for review/ renewal of the limit.

Security

  • As per the guidelines of RBI from time to time or the bank’s policy in this regard
  • The current RBI instructions do not permit banks to take collateral security for the quantum of finance envisaged under the scheme.
  • However, the assists financed would be hypothecated and towards this necessary security documents would be obtained as per the norms.

Rate of interest:

  • As per RBI norm/bank policy.

Insurance Cover

  • Beneficiaries who are registered with Development Commissioner (Handicrafts) would be eligible for coverage under group Insurance scheme and the premium paid by the Government and the beneficiaries in the ratio of 60:40 respectively or as mutually agreed between the office of the Development Commissioner (Handicrafts) and the Insurance Company.
  • Insurance cover may be arranged for the assets financed as per existing practices in the banks.
  • Bank who is member of credit Guarantee Trust Fund for Small Industries (CGTSI) would be eligible for credit guarantees cover under the scheme.

Implementation of the Handicrafts (Year wise Target and Achievements)

Amount in thousands

Handicrafts

Year

Target

Achievement

 

A/C

Amount

A/C

Amount

%age

2002-03

6106

2986.03

731

278.40

9%

2003-04

3169

1587.72

576

231.47

15%

2004-05

9759

4181.62

775

313.69

8%

2005-06

7464

2937.47

599

282.80

23%

2006-07

3090

1498.20

526

271.33

18%

2007-08

3471

1575.63

817

6432.85

27%

2008-09

3516

1928.72

931

531.37

28%

2009-10

3514

2097.09

912

486.37

23%

2010-11

3435

1781.60

720

479.40

27%

2011-12

4311

2526.45

1541

942.51

37%

2012-13

4519

3691.01

8260

6412.75

174%

2013-14

4867

4799.41

5892

5252.36

109%

2014-15

26308

26068.55

13284

11647.55

45%

2015-16
26,287
27,16,790
4,745
4,31,588
16%
Year 2016-17

8543

8,52,150

2205

1,84,785

22%
ACC (out of Handicraft Scheme)
 

5886

595050

1770

1,48,134

25%
Year 2017-18 (Q1)

9687

8,78,550

653

53,884

6%
ACC (out of Handicraft Scheme)
 

9511

8,66,850

588

48,034

6%

For more information, please visit: http://www.jkhandicrafts.com/

   
     
     
     
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Mr. Parvez Ahmed
Chairman & Chief Executive Officer
Convenor J&K SLBC
The Jammu & Kashmir Bank Ltd.
Corporate Headquarters
M.A Road Srinagar,
Jammu and Kashmir, India
Phone: 0194-2481900,

Fax:0194-2481902

Mr. Vagish Chander Sharma
Executive President,
Personnel & HRDD/ Trainings, Disciplinary Deptt, Management of Board Secretariat,
FSD/ Insurance, JKGB Management, Customer Care/ Compliance/ KYC/ AML, Lead Bank, FID/CSC.
Corporate Headquarters
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Jammu and Kashmir, India

Telephone/ Fax: 0194-2502614/ 2502615
Ext. No: 1450, 1451
Cell No: 9479176977
Email: vc.sharma@jkbmail.com  

Mr. Rakesh Gandotra
Vice President,
Lead Bank Department, Financial Inclusion Department / Common Services Centre, Strategy & Business Development Division.
Corporate Headquarters
M.A Road Srinagar,
Jammu and Kashmir, India

Telephone/ Fax: 0194-2502639
Ext. No: 1139
Cell No: 9815922320/ 9810642320
Email: rakesh.gandotra@jkbmail.com  

SLBC Secretariat
J&K State Level Bankers' Committee (SLBC)
Corporate Headquarters
M.A Road Srinagar,
Jammu and Kashmir, India

Telephone/ Fax: 0194-2502639
Aircel: 8803004089, 8803004095
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