Guwahati, June 21: Assam Apex Weavers & Artisans Co-operative Federation Ltd (Artfed) will set up 10 yarn banks across 10 districts of the state under a central scheme by September.

"About 60 per cent of the work is over. The rest should be over in three months. We are looking to set up one more at Sualkuchi but have not been able to acquire land till date," M.C. Deka, general manager of Artfed, told The Telegraph.

The yarn banks are coming up in Kamrup, Tinsukia, Dibrugarh, Sivasagar, Jorhat, Nagaon, Cachar, Goalpara, Barpeta, Lakhimpur and Dhemaji districts.

"The banks are being set up under a centrally-sponsored scheme with Rs 20 lakh allotted for each. We plan to have one in each of the 27 districts. All of them have been sanctioned," Deka said.

A yarn bank stocks the yarn sold from producers for buyers. The objective of a yarn bank is to provide the requisite raw material to weavers at a reasonable price.

"In the absence of a yarn bank, open markets continue to enjoy monopoly and earn huge profits. Such a facility will help create a balance between interests of sellers and users of yarn," he added.

Artfed was formed in 1977 by re-organising the Assam Apex Weavers Co-operative Society Ltd with the objective to set up handloom weaving and cottage industries in the state on a co-operative basis. The federation has 55 showrooms across the state.

The regional handloom and handicraft marketing complex of Artfed at Rehabari here has since April 2013 been helping give the traditional weavers a market linkage for their products.

Weavers' societies, however, opine that the move would help those buying yarn in bulk.

"It's good that the yarn banks are coming up but how far they will serve the interests of poor weavers who will go there wanting to buy smaller quantities is still not known. Instead, co-operative societies and fair price shops will benefit them more," Chandan Keshav, the secretary of Rasomgram, a Boko-based weavers' society, told this correspondent.