"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 i
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DETAILS "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 - 1. Weavers’ Individual Loans 2. Weavers’ Groups Loans 3. Loans of Power loom Units below 5 HP Power connection and availing 50% power subsidy scheme. BENEFITS 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 total amount eligible for redemption of loans taken for weaving purposes shall be limited to ₹ 1,00,000 for Individual Weaver. The total amount eligible for redemption of loans taken for weaving purposes shall be limited to ₹ 5,00,000 for Weaver Groups, subject to the condition that within the Weaver Groups, the eligibility for the redemption of the loan outstanding per individual will be limited to ₹ 1,00,000. The weavers whose loans are redeemed under the scheme will be eligible for fresh finance from the lending institutions, provided, the amount waived is equal to the loan outstanding. 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: a) Individual Weavers who have directly availed loans for weaving purposes; b) 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; c) Credit extended to holders of Weaver Credit Cards; d) Weavers having Power Loom Units below 5 HP capacity and who are availing of the existing 50% Power subsidy scheme. Exclusions If any member of Weaver Group availed the benefit of debt redemption for the same purpose as a member of Group of DWACRA / MEPMA, SHG, such member shall not be eligible under this scheme. The purpose is to avoid dual benefits to the same person under two schemes of the government.
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We don’t hold the step-by-step process for Scheme For Waiver Of Loans To Handloom And Powerloom Sectoryet. The department’s own notification is the authority until we do — we would rather say that than invent a plausible sequence.
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