Export-Import Bank of India has set up a Rural Technology Development Fund with an initial corpus of Rs 1 crore to assist rural small enterprises, artisans and handicraftsmen to start their enterprises. Through this fund, Exim Bank will provide soft loans and initial seed capital to these enterprises to set up export oriented units.
According to Shankarnarayan R Rao, executive director, Exim Bank, this is the first of its kind fund set up by the bank to help rural population to make use of resources available in the villages and produce goods for the overseas markets.