The National Minorities Development & Finance Corporation (NMDFC) launched this scheme with the purpose of helping Artisans and Craftspersons in meeting their working capital (making products as per the demand in the market) and fixed capital requirements (machineries, equipment and tools).
Overview of Virasat – A Credit Scheme for Craftspersons
|Name||Virasat – A Credit Scheme for Craftspersons|
|Launched by||National Minorities Development & Finance Corporation|
|Nodal Ministry||National Minorities Development and Finance Corporation|
|Sector||Central sector scheme|
|Aim||purpose of helping Artisans and Craftspersons|
|Objective||to lend monetary assistance to minorities for income-generating purposes like small business and self-employment.|
Objective and Benefits of Virasat – A Credit Scheme for Craftspersons
•Maximum Loan limit of Rs. 10 lac can be availed under the scheme.
•1% lower interest rate than charged under term loan scheme (offered by NMDFC).
•Further a 1% loan rebate is provided for the women artisans.
•NMDFC organises Hunar Haat Exhibitions for promoting traditional crafts. This provides a platform to artisans to sell/get orders for their artefacts.