TS Waives Rs 5.65 Crores Loans of Weavers

The state government has waived bank loans of powerloom weavers to the tune of Rs 5.65 crore and issued guidelines for its implementation.

Though, the government has decided to waive the loans of powerloom weavers in January this year, the revised operational guidelines were issued by the government on Tuesday.

The loan waiver for each powerloom weaver will be restricted to Rs 1 lakh and the waiver would be done after verifying the genuineness and thorough verification of the claims by the Director of Handlooms and Textiles and Apparel Export Parks.

The loan waiver to powerloom weavers will be applicable to workers, weavers and entrepreneurs in the powerloom industry. All powerloom units including those utilizing below 5 HP as well as those above 5 HP electricity load are eligible for the loan waiver.

Source: The New Indian Express

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