Telangana Powerloom Weavers Loan Waiver Scheme
Telangana Powerloom Weavers Loan Waiver Scheme G.O Ms.No.7 Dated 12.01.2015 is released. Telangana Govt will waive power loom weavers loans, for the the TS Govt has issued a G.O Ms.No.7 for the Telangana Powerloom Weavers Loan Waiver Scheme implementation guidelines. the following is the copy of that G.O
Handlooms and Textiles Department – Waiver of loan to the extent of Rs.565.06 lakhs to powerloom weavers in the State – Operational guidelines for implementation of loan waiver scheme for Powerloom Weavers in the State – Issued.
INDUSTRIES AND COMMERCE (TEX) DEPARTMENT, G.O.MS.No.7 Dated:12-01-2015.
Read the following:-
From the DH&T and AEPs (I/c), Telangana State, Hyderabad,Lr.No.386/2014-P,dt:08.07.2014.
In the reference read above, the Director of Handlooms & Textiles and Apparel Export Parks, Telangana State, Hyderabad has stated that there are (49,112) powerlooms in Telangana State, out of which the majority of (38,000) powerlooms are working alone in Sircilla Town. Due to insufficient earnings and fluctuations in the market, the powerloom weavers have become defaulters to the Banks. They are unable to pay back their Bank Loans taken for establishment of Powerloom Industry due to their meager income generated out of income on powerloom weaving. The individuals have taken loans from different banks and which have become overdue/NPA. An amount of Rs.1586.10 lakhs is outstanding as on 31.03.2014 by 1325 number of individual powerloom weavers who took loans from various Banks.
2. While furnishing the District wise loan due details, the Director of Handlooms & Textiles and Apparel Export Parks, Telangana State, Hyderabad has requested the Government to consider the request of the powerloom weavers and take a policy decision in the matter.
3. Government, after careful examination of the proposal of Director of Handlooms & Textiles and Apparel Export Parks, Telangana State, Hyderabad, hereby decide to waive off the Bank/State Finance Corporation/Co-Operative Bank loans of Rs.565.06 lakhs to the Powerloom Weavers, restricting the waiver upto Rs.1.00 lakh, in the State duly verifying the genuineness and thorough verification of the claims by the Director of Handlooms and Textiles and Apparel Export Parks, Telangana State, Hyderabad.
4. Further Government, hereby issue the operational guidelines for implementation of the loan waiver scheme for powerloom weavers in the State as
mentioned in the Annexure annexed to this order.
5. The Director of Handlooms & Textiles and Apparel Export parks, Telangana State, Hyderabad shall take necessary further action in the matter accordingly and send progress report to the Government from time to time in this regard. Download the G.O No.7 regarding Telangana Powerloom Weavers Loan Waiver Scheme