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.
Rosaiah said the financial package shall be finalised duly negotiating with banks for reducing the interest.
Further, the banks shall extend fresh loans to the extent of repayment made to each of handloom weaver whose outstanding loan has been waived.
–PTI