Home / Knowledge / News / Textiles / Govt to extend MUDRA loans to 5 lakh weavers in 3 years
Govt to extend MUDRA loans to 5 lakh weavers in 3 years
30
Jun '16
Courtesy: PIB
Courtesy: PIB
The ministry of textiles has set a target of extending loans under the Micro Units Development and Refinance Agency (MUDRA) scheme to five lakh handloom weavers in the next three years, textiles secretary Rashmi Verma has said.
 
The government is paying special attention to i) skill upgradation of weavers, ii) loom upgradation, iii) ensuring availability of good quality raw material, iv) providing better access to credit, and v) branding of good quality handloom products, Verma said at a national workshop on MUDRA scheme for handloom weavers and artisans, organised by Office of Development Commissioner (Handlooms), ministry of textiles, in New Delhi.
 
“The experience in implementation of Weavers Credit Card scheme has not been fully satisfactory; the per capita amount sanctioned is low and procedures are cumbersome,” Verma said, according to an official statement.
 
Availability of working capital is a critical component in enhancing earnings of weavers, she said, and 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.
 
For implementation of the new model, the ministry of textiles has requested every state and union territory to prepare a three-year action plan to achieve the five lakh target. The plan would cover all handloom clusters, with the aim of extending MUDRA loans to all eligible, willing, non-defaulting handloom weavers. The plan would also identify banks for each cluster, keeping in view the presence of banks and their willingness to participate in the scheme. (RKS)
 

Fibre2Fashion News Desk – India


Must ReadView All

New US alliance to promote postal package delivery service

Textiles | On 15th Aug 2018

New US alliance to promote postal package delivery service

A group of US retailing, e-commerce and logistics firms recently...

Courtesy: Industriall Union

Apparel/Garments | On 15th Aug 2018

IndustriALL-Esprit agreement to improve workers' rights

IndustriALL Global Union recently signed a global framework agreement ...

Indian minister orders fresh consultations on e-com policy

Textiles | On 15th Aug 2018

Indian minister orders fresh consultations on e-com policy

Indian commerce and industry minister Suresh Prabhu has asked for...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Top executives
Textile industry

The foremost issue is bridging the skill gap

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Igor Chapurin
Chapurin

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

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

news category


Related Categories:

Advanced Search