Assam Gramin Vikas Bank and National Bank for Agriculture and Rural Development (NABARD) recently hosted a youth-focus entrepreneurship fair here, which aimed at urging aspiring young entrepreneurs in the region to showcase their products and attract financial investors.
The Assam Gramin Vikas Bank encouraged similar banks to grant loans to the poor for the sake of development of rural areas and economy.
"In India more than 75 percent people live in the villages. For rural development rural finance is important. The branch of Assam Gramin Vikas Bank is in the villages. According to NABARD if there is development in the rural areas then ultimately the country will also develop. So, even other banks should give loans to poor people," said Mahesh Baruah, Manager, Gramin Vikas Bank.
The Assam Gramin Vikas Bank plays a pivotal role in extending loans to farmers, entrepreneurs and weaker sections of the society in the region, and is known for aiding small-scale local businesses.
"I have benefited from the loan. Now I run a dairy business in Khanapara and I am doing very well. We sell a litre of milk for RS.30 and everyday we sell 15, 000 litres of milk and I earn more than 4 lakhs in a month. I get a lot of benefit," said Faizul Rahman, an entrepreneur from Kamrup district and beneficiary of a loan.
"I took a loan from the Gramin Vikas Bank to start handloom production, and now we have started making cloth and other items. Today, I came here to display my products, and we are selling the products at higher prices and whatever we get from this fair we will repay the loan with it," said another beneficiary and entrepreneur, Manabi Mahanta .
The fair , held at NEDFI haat in Guwahati, had 25 stalls set up by entrepreneurs, which showcased a variety of items like dairy products, ornaments, handicrafts and garments.