Home / Knowledge / News / Textiles / Banks hesitate to provide loans to J&K artisans
Banks hesitate to provide loans to J&K artisans
Oct '09
Banks in Jammu and Kashmir are refusing loans, to artisans and other allied people of the handicraft industry, without guarantors. Mentioning this as immoral, Director Handicrafts, Mr. Showkat Ahmad Zargar said that there is no need of any guarantee for the loans of Rs. 50,000 or Rs. 70,000 in the handicraft sector.

He added that the department is taking this issue very seriously. The Centre has provided Rs 4 million to the handicraft industry and it has been transferred to Jammu and Kashmir Bank, which can utilize this amount as guarantee money against such loans, he informed.

If anybody takes loan under such scheme and fails to repay it, the money can be deducted from the transferred amount, said Mr. Zargar. The one who takes loan under this scheme has to pay just 7 percent interest to the bank and rest 5 percent will be paid by the department as subsidy, he added.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 24th Oct 2016

Indian govt plans roadshows to promote textile exports

The Indian government has planned to conduct roadshows to boost the...

Textiles | On 24th Oct 2016

TPP may hit roadblock

The 12-member Trans-Pacific Partnership (TPP) that was signed earlier ...

Textiles | On 24th Oct 2016

Baba Ramdev’s Patanjali to enter textile manufacturing

Patanjali Ayurved, an enterprise initiated by yoga guru Baba Ramdev,...

Interviews View All

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Smita Murarka

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search