Five lakh handloom weavers to get Mudra loans in three years

Speed Post News Network

New Delhi: The Ministry of Textiles has set a target of extending MUDRA loans to five lakh handloom weavers in the next three years. This was announced by Union Textiles Secretary Rashmi Verma at a national workshop on MUDRA scheme for handloom weavers and artisans organized by Office of Development Commissioner (Handlooms), Ministry of Textiles, in New Delhi on June 28.

Presiding over the workshop, Ms Verma said that the government is paying special attention to Skill upgradation of weavers, loom upgradation,  ensuring availability of good quality raw material,  providing better access to credit and  branding of good quality handloom products. She informed that the government has formulated a new model under MUDRA scheme for providing credit to handloom sector. The new model combines elements of concessional credit such as margin money, interest subvention and credit guarantee cover.

Welcoming the initiative, the Chief Guest and Secretary, Department of Financial Services,  Anjuly Chib Duggal, said that providing loan to handloom weavers under MUDRA scheme should be a part of the regular agenda of State Level Bankers Committee.