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The Role of Banking Sector in Indian Sericulture

Abstract

Sericulture is an old aged village based industry with its skilled and unskilled work force boost the economy of rural areas. India is second largest producer of silk with production of 23,000 metric tons by providing a gainful employment to majority of youth living in rural areas of India. Sericulture development depends upon the socio economic conditions, scientific and technical personals, consumer agencies and financing from financing sector for progressing fast on par with countries like China and Japan. India is only country that produces all types of silk. Sericulture farms provides more profits when compared to other farming sectors to meet its own demand but unfortunately banking sectors are not fully supporting this industry. Hence there is a need to explore various factors like banking operations in rural areas, the role played by NABARD, union banks and also the need for policies implemented by banks. SHG functioning for empowering women are needed for increasing the production to meet the internal needs of the country.

Kuntamalla Sujatha*, Gudimalla Prashanthi

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