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Waiver of Weavers Scheme Telangana: Weaver`s loans upto 1 lakh waived off

weavers

The Government of Telangana has announced the Waiver of Weavers Scheme and will be waiving off loans upto Rs. 1 lakh of the poor weavers in the state. Minister for Industries and Commerce K.T. Rama Rao announced the scheme in the Assembly.

Under the Waiver of Weavers Scheme 2,467 handloom weavers will be benefited. Their loans upto Rs. 1 lakh from Nationalized Banks and district cooperative central banks (DCCBs) between January 1, 2014 and March 31, 2017 will be waived off. The Government of Telangana has provisioned Rs. 10.10 crores for the scheme with which handloom weavers would be freed of debts.

Cooperative Thrift Fund Scheme extended:

The Government of Telangana has extended Cooperative Thrift Fund Scheme to weavers both within the cooperative sector and outside including the ancillary workers like warpers, winders, dyers and designers. Now Powerloom Waevers are also brought under the scheme. Under the scheme the weaver contributes to 8% of the wage for the workers and same was contributed by the government earlier. Now on government will be paying 16% instead of 8%. 6,455 weavers were enrolled so far and were given benefits. Weavers have now been benefited over 35% with the enhanced subsidy from 20% to 40%.

Eligibility for Waiver of Weavers Scheme Telangana:

  • Weavers who`s loan is less than or upto Rs. 1 Lakh
  • Weavers who have taken loans from Nationalized Banks and District Cooperative Central Banks

How to apply online for Waiver of Weavers Scheme Telangana:

Government of Telangana has not provided detailed on the application procedure since it is just announced in the assembly. We will update this article when the details are available.

Highlights of Waiver of Weavers Scheme Telangana:

  • Weaver`s loan upto Rs. 1 Lakh to be waived off
  • Loans only from Nationalized Banks and District Cooperative Central Banks will be waived off
  • 2,467 weavers to benefit from the scheme
  • Government of Telangana will provide Rs. 10.10 crores for the scheme
  • Cooperative Thrift Fund Scheme extended to power loom weavers
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