Weavers Finance

SHORT-TERM WEAVERS FINANCE

Credit limits sanctioned to DCCBs on behalf of PWCS during 2014-15

As against the total credit limit application of Rs.183.80 crore submitted to NABARD by TNSC Bank for financing PWCS for production of Handloom and Powerloom Weavers Coop. Societies for the year 2014-15, NABARD had sanctioned a consolidated credit limit of Rs.120 crore to TNSC Bank on behalf of the 17 eligible DCCBs.  However, TNSC Bank had sanctioned the balance limit of Rs.63.80 crore from its own resources, so as to provide sufficient financial support to PWCS.

Per Loom Scale of Finance for financing implementation of Special Programmes

Financial assistance is provided for Special Programme (Admission of new looms, activation of idle looms, financing new societies and conversion of looms) initially for the first two years based on the per loom scale of finance approved by the State Level Standing Committee (SLSC).
Sl. No. Variety of Cloth Per Loom Scale of Finance for 2014-15 (Rs.)
1. Handloom – Cotton 40,000
2. Handloom – Special Cotton 48,000
3. Handloom – Pure Silk with pure zari 79,000
4. Handloom – Pure Silk with half fine zari 60,000
5. Handloom – polyester 44,000
6. Powerloom 55,000
7. Pedalloom 45,000
Financing of Tamil Nadu Handloom Weavers Coop. Society Ltd. (Co-optex)
TNSC Bank sanctioned a credit limit of Rs.80 crores to Co-optex for procurement and marketing of handloom cloth, Rs.14 crores for procurement and marketing of powerloom cloth, and Rs.5 crores for yarn Business during the year 2014-15.