Scheme for Waiver of Loans to Handloom and Powerloom Sector redeems the debt accrued by the farmers, Self-Help Groups, Weavers, etc., to the Scheduled Commercial Banks/Cooperative Banks, Urban Cooperative Banks, and RRBs, through their Branches/Institutions in the State of Andhra Pradesh.
Scheme For Waiver Of Loans To Handloom And Powerloom Sector - Introduction
Scheme for Waiver of Loans to Handloom and Powerloom Sector is a Loan Waiver Scheme by the Industries and Commerce Dept., Govt. of Andhra Pradesh. The scheme redeems the debt accrued by the farmers, Self-Help Groups, Weavers, etc., to the Scheduled Commercial Banks/Cooperative Banks, Urban Cooperative Banks, and RRBs, through their Branches/Institutions in the State of Andhra Pradesh. The scheme also suggests a number of measures for increased livelihood opportunities and improved prosperity.
The scheme has a specific focus on:
- Weavers’ Individual Loans
- Weavers’ Groups Loans
- Loans of Power loom Units below 5 HP Power connection and availing 50% power subsidy scheme.
Eligibility
- The loans disbursed to Individual Weavers and Weaver Groups for weaving purposes that were outstanding on 31.03.2014 are eligible for coverage under the scheme.
- The total amount of loan for all eligible purposes from all banks taken together shall not exceed the ceiling fixed for individuals.
- The following categories of borrowers are eligible under the scheme:
- Individual Weavers who have directly availed loans for weaving purposes;
- Weaver Groups having availed loans for weaving purposes on a pro-rata basis as per the amount drawn by each member, the aggregate amount subject to the overall ceiling;
- Credit extended to holders of Weaver Credit Cards;
- Weavers having Power Loom Units below 5 HP capacity and who are availing of the existing 50% Power subsidy scheme.