New Delhi, Aug 14 (KNN)  The Ministry of Textiles is seeking approval for relaxation of eligibility norms for extending loans to handloom weavers at a subsidised interest rate of six per cent.

“Many states, including Andhra Pradesh, have requested for revising/modifying the guidelines of Revival, Reform and Restructuring (RRR) package for handloom sector. The State Government of Andhra Pradesh has requested to relax the existing norms under RRR package and extend the scheme to all the functional societies in the State so as to give benefit to the large number of weavers in the State,” said Minister of State for Textiles Panabaaka Lakshmi in the Rajya Sabha today.

Approval is being sought for relaxation in the eligibility norms for assessing the viable and potentially viable apex and primary weavers cooperatives societies, providing loan to handloom sector at 6 per cent interest, as announced by Finance Minister in the budget of 2013-14, margin money assistance at the rate of Rs 10,000 per weaver besides extending the implementation of RRR package upto December-31.

This would provide benefit to a large number of eligible primary weavers’ cooperative societies, apex under relaxed norms, which were earlier left out of the ambit of RRR package, it said.  (KNN)