Govt clears Rs. 33 crore for Handloom weavers’ loan waiver

The waiver will cover loans obtained from banks and DCCBs for handloom production and related activities.

Hyderabad: The State government gave administrative approval for Rs 33 crore to implement a loan waiver for weavers. The scheme will benefit around 5,691 weavers. Loans up to Rs 1 lakh, including principal and interest, taken between April 1, 2017 and March 31, 2024, will be waived.

The waiver will cover loans obtained from banks and DCCBs for handloom production and related activities. Funds will be credited into the bank accounts after completing the verification process which is underway.

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In a statement, Agriculture Minister Tummala Nageswara Rao said around Rs. 920 crore has been spent on handloom welfare since the Congress government took charge.