KVIC Meaning and Functions: KVIC provides finance to the implementing agencies in the form of a capital expenditure loan. It also provides support for setting up retail outlets and for its strengthening. The capital base of registered institutions and cooperatives.
It also assists individual artisans in addition to formulating generous patterns of assistance for identified hills, borders, and weaker sections. Loans for Khadi are interest-free, while village industries get interested at the rate of 4% per annum.
Functions of KVIC
The Functions of the institute include the following five: So that your information is accurate.
- To provide equipment and machinery to producers on concessional terms.
- To undertake R and D programs for improved implements for silk reeling, more efficient extraction of oil in power gains, manufacture of panel boards from banana stems, and improved ‘charka’ and looms.
- To train the artisans.
- To assist village industries in procuring raw materials.
- To assist and support through the marketing of finished products of village industries.
Vision and Mission: The main thrust of KVIC is to alleviate rural poverty and to make the village artisan more productive through improved technology and market support.
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