- Details
- Benefits
- Eligibility
- Application Process
- Documents Required
- Frequently Asked Questions
- Sources And References
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Ministry Of Textiles
National Handloom Development Programme: Concessional Credit/Weaver MUDRA Scheme
Details
Benefits
Margin Money Assistance:
- Individual Handloom Weaver/Weaver Entrepreneur- Margin Money assistance @20% of the loan amount, subject to a maximum of ₹25,000/-.
- Handloom organization - Margin money assistance @20% of the loan amount, subject to a maximum of ₹20.00 lakh (margin money @₹2.00 lakhs for every 100 weaver/worker). Additional margin money requirement, if any as per banking norms will be borne by the beneficiary Agency.
- Margin money assistance to Primary Handloom Weavers’ Co-operative Societies/Apex Handloom Weavers’ Co-operative Societies/State Handloom Corporations will be provided on the recommendation of the State Director of Handlooms.
Interest Subvention:
- Subsidized loans at a concessional interest rate of 6% for a period of three years will be available to eligible handloom organizations only. However, this is subject to interest subvention cap only upto 7% by the GoI.
- Interest subvention as applicable will be provided a maximum of 3 years from the date of the first disbursal.
Credit Guarantee:
- The loans extended to the eligible handloom organizations will be guaranteed by the National Credit Guarantee Trustee Company (NCGTC)/Credit Guarantee Fund Trust for Micro & Small Enterprises (CGTMSE), as per the decision of the Bank/Financial Institution concerned. Guarantee cover will be effective from the date of disbursement of the loan for 3 years.
- If the loan amount sanctioned is ₹1.00 crore, the handloom organization is eligible for getting maximum margin money assistance of ₹20.00 lakhs (margin money @₹2.00 lakhs for every handloom weaver/worker). Therefore, a credit guarantee would be covered on the loan amount disbursed upto ₹1.00 Crore.
- The credit guarantee fee on the loan amount disbursed would be borne by GoI for a period of 3 years.
Eligibility
- Handloom Weavers involved in weaving activity,
- Weaver Entrepreneur,
- Self Help Groups,
- Joint Liability Groups,
- Handloom organizations, including Primary Handloom Weavers’ Co-operative Societies,
- Apex Handloom Weavers’ Co-operative Societies, State Handloom Corporations and
- Producers’ Companies/Consortia promoted by handloom weavers including those promoted under Cluster/Mega Cluster/Handloom Parks under SITP or other schemes of the Ministry of Textiles
Application Process
Release of Funds:
Documents Required
- Identity card issued by the O/o DC(Handlooms)
- Yarn passbook
- Identity card issued by the State Government
- Handloom Organization– Registration Certificate, Balance Sheet, Profit & Loss Account, name of the weavers registered with the Organization, etc.
Frequently Asked Questions
What is the ‘Concessional Credit/Weaver MUDRA Scheme’?
What is the aim of the Scheme?
Which banks are eligible to participate in the ‘Concessional Credit/Weaver MUDRA Scheme’?
What are the key benefits of the scheme?
What is the rate of Margin Money Assistance for Individual Handloom Weaver/Weaver Entrepreneur?
What is the rate of Margin Money Assistance for Handloom organization?
What is the maximum Margin Money Assistance provided to Primary Handloom Weavers’ Co-operative Societies/Apex Handloom Weavers’ Co-operative Societies/State Handloom Corporations?
Who is eligible for Interest Subvention under the ‘Concessional Credit/Weaver MUDRA Scheme’?
How long is the Interest Subvention applicable after the first disbursal of the loan?
Which handloom organizations are eligible for Credit Guarantee under the ‘Concessional Credit/Weaver MUDRA Scheme’?
Where is the Margin Money Assistance transferred for Handloom Organizations?
What is the method of fund transfer for Interest Subsidy and Credit Guarantee Fee under the scheme?
Who are eligible to avail loans under the ‘Concessional Credit/Weaver MUDRA Scheme’?
What is the eligibility criterion for individuals who have already availed Margin Money Assistance?
What is the eligibility criterion for Fresh loan?
How can apply for loan under the scheme?
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Ministry Of Textiles
National Handloom Development Programme: Concessional Credit/Weaver MUDRA Scheme
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