Training institute churning out entrepreneurs

Rural Development and Self Employment Training Institute (Rudseti) has trained 14,972 unemployed youth through 429 entrepreneurship development programmes in its 20 institutes in 2004-05.

Releasing Rudseti's annual report for 2004-05, B Swaminathan, chairman and managing director, Canara Bank said that of the 14,972 youth trained so far, 10,525 have started various self-employment ventures in the rural areas.

"Of those trained so far, 5,777 have set up business ventures by availing bank loans to the tune of Rs 24.26 crore and 4,748 youth have established units by investing their own money," he added.

Of those trained, SC/STs constitute 20.2 per cent, backward classes 38.6 per cent, women 28.4 per cent and minorities 9.3 per cent.

Speaking on the occasion, N Kantha Kumar, chairman and managing director, Syndicate Bank said that the success of the rural development model has drawn the attention of Union rural development ministry in giving 75 per cent grant to set five more institutes one each in Madhya Pradesh, Orissa, Andhra Pradesh, Rajasthan and Uttar Pradesh.

In 2005-06, the institute plans to train 15,000 and extend financial and marketing assistance for two years. To encourage the established trainees in marketing their products, 18 Rudseti bazaars were organised, he added.

Currently, Rudseti is training the beneficiaries of the government-sponsored schemes like PMRY, SGSY, SJSRY.

Rudseti has been set up by Canara Bank, Syndicate Bank and SDME trust (Shri Dharmasthala Manjunatha trust) in the ratio of 40:40:20 respectively. During the year 2004-05, the institute has incurred expenditure to the tune of Rs 3.76 crore.

Since being set up in 1982, Rudseti has trained 1,55,841, and of these 1,03,284 trainees have established micro enterprises in different sectors including business and trade activities.

More than two lakh jobs have been created for youth and women as a result of Rudseti intervention, said Kantha Kumar.

"These small and micro entrepreneurs have made an investment of Rs 315 crore in their ventures, of which Rs 174 crore loans advanced by banks. They contribute Rs 300 crore to the national income annually," he added.