Telangana Govt to clear handloom loan waivers

Hyderabad, Nov 10: The Telangana state government on Thursday announced a loan waiver to benefit 2,467 handloom weavers, at a total cost of Rs 10 crore.

Loans up to Rs 1 lakh borrowed from nationalized banks and District Cooperative Central Banks (DCCBs) from June 1, 2014 to March 31, 2017, will be waived, textiles minister K.T. Rama Rao said in the Assembly.

Mr Rama Rao said the loan waiver was applicable even to weavers who had borrowed more than Rs 1 lakh but the government would pay only Rs 1 lakh to banks.



"As per the information furnished by the state-level bankers' committee, 2,467 weavers would become debt-free through this scheme and the government will incur an expenditure of Rs.10.10 crore. Of the 2,467 weavers, 205 weavers have repaid loans. The government will give Rs 1 lakh to these weavers too as they faced several problems to repay the loans," he stated.