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

Indian nationalised Punjab & Sind Bank, to boost the Uttar Pradesh government's marquee initiative 'One District, One Programme’, has planned to offer loans worth up to Rs 25 crore to the 5,000 Terracotta artisans registered under the programme in Gorakhpur.

Apart from the financial assistance from the government, the bank will work closely with the Department of Micro, Small and Medium Enterprises (MSME) of the state government to help these craftsmen expand their business.

Navneet Sehgal, IAS, Additional Chief Secretary, Department of Micro, Small and Medium Enterprises and Export Promotion, Government of Uttar Pradesh said: “Banks are playing a crucial role by hand-holding artisans and thereby playing an important role in assisting the ODOP initiative. It is our Hon'ble CM's vision to make UP a $1 trillion economy and this will provide a further boost to the same. The Uttar Pradesh government has been working relentlessly to ease the financial and the partnership is an important step in that direction. "

Gorakhpur’s terracotta work is a centuries-old traditional art form, where the potters make various animal figures - horses, elephants, camels, goats, and oxen - with hand-applied ornamentation.

Ram Jass Yadav, Executive Director, Punjab and Sind Bank said: "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 ease the loan process for the artisans. Currently, we are targeting 2500 lakh loan."

Adhering to the Prime Minister Narendra Modi's clarion call 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 specialised products and crafts by assisting artisans in improving the quality of their products, helping them with marketing and branding with a larger aim to increase their incomes and generate higher employment.

The initiative is now being replicated by the Central government and other states across the country. Interestingly, Terracotta has also received the Geographical Indication tag.

Major products of these terracotta artisans’ craftsmanship are the Hauda elephants, Mahawatdar horse, deer, camel, five-faced Ganesha, singled-faced Ganesha, elephant table, chandeliers and hanging bells. There are more than 1,000 varieties of terracotta work designed by local craftsmen.