National Bank for Agriculture and Rural Development (NABARD) has released Rs 10 crore to Andhra Pradesh Co-Operative Bank (APCOB) under the revival package for Handloom Sector towards recapitalising the Andhra Pradesh State Handloom Weavers Cooperative Society (APCO).
Under the scheme about one lakh weavers of the state in the Cooperative sector as well as as individual weavers would be benefited, a release from NABARD said here today. As many as 1488 APCO societies wiping out their accumulated losses. The package also proposed recapitalization and fresh credit flow to the weavers.
The release said the total outlay of the package has been estimated at Rs 3884 crore for the country with the State’s share being Rs 300 crore.
Besides loans waiver, Weavers Cooperative Societies would be strengthened by capacity building, computerisation, training and marketing support, the release added. UNI