SIDBI Launches Waste to Wealth creation Programme 2022

SIDBI launches waste to wealth creation programme 2022

What is the news:

• Small Industries Development Bank of India (SIDBI) has launched a new programme named ‘Waste to Wealth Creation’.
• It will make ornaments and showpieces from fish scales in the Sundarbans in West Bengal.

Key-points

• Small Industries Development Bank of India (SIDBI) has launched the ‘Waste to Wealth Creation’ programme.
• The program is designed for women in the Sundarbans in West Bengal.
• In this, the women will make ornaments and showpieces from the fish scales.
• SIDBI will extend benefits to 50 women indirectly generating revenues from alternate livelihoods.
• In this programme, women are expected to become a trainer for replicating and disseminating the knowledge among other aspirants.
• This is a part of mission Swavalamban of SIDBI that aims to support artisans to become sustainable.

About Small Industries Development Bank of India (SIDBI)

• SIDBI is the principal development financial institution for promotion, financing and development of Micro, Small and Medium Enterprises (MSME) sector in India.
• It was established on April 2, 1990 through an Act of Parliament (thus, it is a statutory body).
• It is headquartered in Lucknow, Uttar Pradesh.
• SIDBI is mandated to serve as the Principal Financial Institution for executing the triple agenda of promotion, financing and development of the MSME sector and coordination of the functions of the various Institutions engaged in similar activities.
• SIDBI aims to facilitate and strengthen credit flow to MSMEs and address both financial and developmental gaps in the MSME eco-system across the country.
• The shares of SIDBI are held by the Central Government and 29 other institutions including public sector banks (PSBs), insurance companies owned and controlled by the Central Government.

More information:

• Small Industries Development Bank of India (SIDBI), the country’s apex financial institution for Micro, Small and Medium Enterprises (MSME), under its mission Swavalamban is supporting women entrepreneurs of Baikunthapur in Sunderban in their journey from Subsistence to Sustenance through various interventions under the brand S3Sundari Swavalamban Sarathi in partnership with Baikunthapur Tarun Sangha (BTS).
• SIDBI under the project “CARE – Cyclone Amphan Rebuilding Efforts” had been supporting women in taking up multifarious cottage-based entrepreneurships on handicrafts (tailoring and Sewing, Bori or Pulses Tablets making, Pickles and Food-Processing); Shop-on-Wheels towards vending green vegetables and groceries or garments-selling at the village-doors for supporting in alternate livelihood. The support provided by SIDBI has been towards restoration of livelihood among the devastated family effected severely due to Amphan Cyclone.
• Taking forward the agenda under Mission Swavalamban, Shri Sivasubramanian Ramann, CMD, SIDBIvirtually inaugurated the programme on “Waste to Wealth Creation – Making Artificial Ornaments and show pieces from Fish scale’ aimed towards supporting women-preneurs / homepreneurs in developing alternative livelihood avenues. Under this intervention, SIDBI shall extend benefit to 50 women in directly generating revenues from alternate livelihoods. Post the programme, each of the women is expected to become trainer for replicating and transmitting the knowledge. While addressing all the women entrepreneurs of SIDBI on this occasion, Shri Ramann said “We at SIDBI are working under mission Swavalamban to support artisans to become sustainable. I appreciate the passion and zeal of women in the region and urge the implementing agency to work towards sustainable market linkage also. SIDBI shall be glad to support them in this regard towards providing them platform in various Swavalamban Melas organized by SIDBI or other platforms across India.”
• In some of the other engagements of Shri Ramann during the visit, he flagged the off an ambulance provided by SIDBI to Bharat Sevashram Sangha under its CSR initiative in the presence of General Secretary Maharaj, Bharat Sevashram Sangha. The intervention is expected to benefit artisans / micro enterprises/ poor’s as also spread message of Mission Swavalamban.
• In an event organised by ASSOCHAM, Kolkata, Shri Ramann interacted with the local MSME entrepreneurs and called upon them to utilise the supportive eco system policies unleashed by Govt. During his interaction, he heard the various issues/challenges being faced by the entrepreneurs and the tentative solutions which could be thought of, to bring more ease of doing the things in long run. He announced support to ASSOCHAM, Kolkata for setting up MSME Facilitation Centre for youth aspirants and existing enterprises towards schemes of Govt as also for the lender fraternity. The CMD, SIDBI also handed over sanction letters to the MSME beneficiaries which were processed on fast dispensation format achieved by SIDBI under the end to end credit delivery digital solution developed by Sidbi for providing quick access of credit to the MSMEs.

About sundarban :

• Sundarbansis a mangrove area in the delta formed by the confluence of the Ganges, Brahmaputra and Meghna Rivers in the Bay of Bengal. It spans the area from the Hooghly River in India’s state of West Bengal to the Baleswar River in Bangladesh’s division of Khulna.
• It comprises closed and open mangrove forests, land used for agricultural purpose, mudflats and barren land, and is intersected by multiple tidal streams and channels.
• Four protected areas in the Sundarbans are enlisted as UNESCO World Heritage Sites, viz. Sundarbans National Park, Sundarbans West, Sundarbans South and Sundarbans East Wildlife Sanctuaries.