Loan Waiver Implementation Committees Formed

A district-level committee under the supervision of the Collector and a state-level committee headed by the Director of Handlooms have been formed to implement the loan waiver scheme. Based on the proposals from the district committee, the state-level committee will approve the amount to be waived. Once approved, the waiver amount will be directly credited to the beneficiaries’ bank accounts. Following this, banks will issue ‘No Dues’ certificates.

Eligible workers can apply for fresh loans after the waiver. However, the government has clarified that those who are no longer engaged in handloom work or whose accounts are classified as NPAs will not be eligible for fresh loans.