Punjab & Sind Bank to offer loans to 5,000 terracotta artisans under OPOP initiative

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India’s nationalized Punjab & Sind Bank to boost the Uttar Pradesh government’s flagship initiative “One district, one scheme”, has planned to offer loans worth up to Rs 25 crore to 5,000 terracotta artisans registered under the program in Gorakhpur.

In addition to financial assistance from the government, the bank will work closely with the state government’s Department of Micro, Small and Medium Enterprises (MSMEs) to help these artisans expand their businesses.

Navneet Sehgal, IAS, Additional Chief Secretary, Department of Micro, Small and Medium Enterprises and Export Promotion, Government of Uttar Pradesh, said, “Banks play a crucial role in holding hands with artisans and play thus an important role in helping the ODOP initiative. . It is our Hon’ble CM’s vision to create a trillion dollar economy and it will give an extra boost to the same. The government of Uttar Pradesh has worked tirelessly to facilitate finance and the partnership is an important step in that direction. “

Gorakhpur terracotta work is an age-old traditional art form, where potters make various animal figures – horses, elephants, camels, goats and oxen – with hand-applied ornaments.

Ram Jass Yadav, Executive Director, Punjab and Sind Bank, said, “The ODOP initiative has become a household name due to the social impact it has managed to create in Uttar Pradesh. We are delighted to work with the MSME department to facilitate the loan process for artisans. Currently we are targeting a loan of 2,500 lakh. »

Adhering to the clarion call of Prime Minister Narendra Modi of Atmanirbhar Bharat, the One District, One Product (ODOP) is an initiative launched by Uttar Pradesh Chief Minister Yogi Adityanath in 2018.

The initiative aims to encourage indigenous and specialized products and crafts by helping artisans to improve the quality of their products, assisting them with marketing and branding with the broader aim of increasing their income and to generate more jobs.

The initiative is now being replicated by the central government and other states across the country. Interestingly, terracotta has also received the geographical indication label.

The main handicrafts of these terracotta artisans are Hauda Elephants, Mahawatdar Horse, Deer, Camel, Five Faced Ganesha, One Faced Ganesha, Elephant Table, Chandeliers and hanging bells. There are over 1,000 varieties of terracotta works designed by local artisans.

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