On Sunday, the Telangana government made a big announcement. Good news for handloom weavers! Their bank loans, up to Rs. 1 lakh, will be waived off. Chief Minister A Revanth Reddy said this while speaking at the All India Padmashali Mahasabha. People clapped. They cheered. Soon after, Shailaja Ramaiyer, the Principal Secretary of the Textile Department, issued an order. The government is ready to spend Rs. 33 crore on this. That’s a huge amount! This will help many weavers who are struggling with loans. Now, they can focus on their work. The government wants to support weavers, and this is a big step.
About Telangana Announced Rs 1 Lakh Loan Waiver Scheme
The Telangana Government Has Decided to help handloom weavers in a big way. They will waive loans up to Rs. 1 lakh for each weaver. This will help thousands of weavers who were struggling to pay back their loans. The scheme covers loans taken from April 1, 2017, to March 31, 2024. The government thought a lot before making this decision. Experts gave advice too. Now, weavers can breathe easy. No more loan stress. They can even take new loans and grow their business. This is a great step for handloom workers.
Also Read: Telangana Crop Loan Waiver Scheme
Motive of Telangana Loan Waiver Scheme
The motive of Telangana Loan Waiver Scheme is:
- To remove the heavy loan burden from weavers so they can work freely.
- To support weavers who took loans but are struggling to repay them.
- To help them stand on their feet again without worrying about debts.
- To make sure weavers get a chance to take new loans and grow.
Key Highlights of Telangana Loan Waiver Scheme
| Name of the scheme | Telangana Loan Waiver Scheme |
| Launched by | Telangana Government |
| Objective | Help weavers by waiving loans |
| Loan Waiver Limit | Up to Rs. 1 lakh per weaver |
| Total Budget | Rs. 33 crore for all weavers |
| Loan Period Covered | 2017 to 2024 loans only |
| Who Can Apply | Only handloom weavers in Telangana |
| Application Process | Online |
| Official Website | Telangana Loan Waiver Scheme for Handloom Weavers |
Financial Benefits
This scheme gives weavers big financial help so they can breathe easy:
- Loans up to Rs. 1 lakh will be fully waived. No repayment needed.
- The government is spending Rs. 33 crore to clear these loans.
- Weavers won’t lose money on paying back loans.
- With no old loans, they can take fresh loans and grow their work.
Eligibility Criteria
The eligibility criteria for the scheme are as follows:
- Must be from Telangana. Only local weavers can apply.
- Must be a handloom weaver. No other jobs allowed.
- Should have taken a bank loan. No loan, no waiver.
- Loan must be from April 1, 2017, to March 31, 2024. Old loans don’t count.
Also Read: Telangana Crop Loan Waiver List
Required Documents
Some important papers are needed to get this loan waiver:
- Aadhar Card
- Email ID
- Mobile Number
- Address Proof
- PAN Card
Salient Features
This scheme has some important features for weavers, which are as follows:
- Waives loans up to Rs. 1 lakh. No need to pay back.
- Covers loans taken between April 1, 2017, and March 31, 2024.
- Government is spending Rs. 33 crore to help weavers.
- Only for handloom weavers in Telangana. Others can’t apply.
Selection of Beneficiaries
Not everyone gets this loan waiver. The government has a process:
- Only handloom weavers from Telangana are chosen. Others can’t apply.
- Loans taken between April 1, 2017, and March 31, 2024, count.
- Officials will check documents.
- List of selected weavers will be made.
- Money goes straight to the bank.
Application Process
To apply for this scheme, follow these easy steps carefully:
Step 1: First, check if you are eligible. If yes, go to the official website of “Telangana Loan Waiver Scheme for Handloom Weavers”.
Step 2: Look for the “Apply Now” button and click on it.
Step 3: A new page pops up. Fill in your details and attach the relevant documents.
Step 4: Double-check everything. Mistakes can lead to fatal.
Step 5: Now, hit the “Submit” button to complete the application process.
FAQs
Who can apply for this loan waiver?
Only handloom weavers from Telangana who took loans between 2017 and 2024.
How much loan will be waived?
Up to Rs. 1 lakh per weaver.
Do I need to repay anything later?
Nope! The government clears it all. No payback needed.
How do I apply for this scheme?
Go to the official website, fill the form, and submit it online.
When will I get the benefit?
After verification, the money goes straight to your bank.