Rajiv yuva shakti loans with no credit

 

The state government will issue an order in a couple of days waiving the overdue loans of all weavers so as to relieve them of indebtedness. Instructions to this effect were issued by chief minister K Rosaiah on Thursday, according to an official press release.

A decision to this effect was taken based on the recommendations of a group of  ministers (GoM), which examined the plight of weavers in the state. The waiver is expected to help weavers to come out of the clutches of money lenders and private finance companies. The chief minister said that after careful examination, the government had to accept the recommendations of the GoM. 

The chief minister stated that the financial package would be finalised after duly negotiating with banks for reducing the interest. The banks would also extend fresh loans to the extent of repayment made by each of the handloom weavers whose outstanding loan has been waived.

Rajiv yuva shakti loans with no credit

Hyderabad, April 02: In a major relief to debt-ridden weavers in Andhra Pradesh, Chief Minister K Rosaiah today decided to waive the overdue principal and overdue interest of all weavers as on March 31, 2010.

This will cover loans taken under Artisan Credit Cards Scheme/Prime Minister Rozgar Yojana (PMRY), Rajiv Yuva Shakti Yojana (RYS).

The claims will be accepted after thorough scrutiny by District Level committee (DLC) under the chairmanship of District Collectors and approved by the State Level Committee headed by the director of Handlooms and Textiles, an official release said here tonight.

The state government will issue an order in a couple of days waiving the overdue loans of all weavers so as to relieve them of indebtedness. Instructions to this effect were issued by chief minister K Rosaiah on Thursday, according to an official press release.

A decision to this effect was taken based on the recommendations of a group of  ministers (GoM), which examined the plight of weavers in the state. The waiver is expected to help weavers to come out of the clutches of money lenders and private finance companies. The chief minister said that after careful examination, the government had to accept the recommendations of the GoM. 

The chief minister stated that the financial package would be finalised after duly negotiating with banks for reducing the interest. The banks would also extend fresh loans to the extent of repayment made by each of the handloom weavers whose outstanding loan has been waived.