Weavers Mudra Loan Scheme

Weavers Mudra Loan Scheme:The Government of India has started this Weaver Mudra Scheme to help the weavers in the country to expand their industry and establish new weaver industries. This Weaver Mudra Loan Scheme was announced for the first time by the Finance Minister Hon’ble P Chidambaram in the budget for the year 2013-14. On 24 September 2013, this scheme was launched in all the states of the country. Through this scheme, the government will provide 20% margin money assistance amount and loan to the weavers at 6% to 7% low interest. To know more about this scheme, read this article till the end.

Weavers Mudra Loan Scheme Quick Review:

Scheme Name:	Weavers Mudra Loan Scheme.
Who started it:	Government of India.
When started:	On 24 September 2013.
Beneficiaries:	All weavers and weaving industries of the country.
Benefits:	20% margin money assistance from the government and loan at the rate of 6%.
Application Mode:	Online.
Official Website:	Jansamarth.in

Weavers Mudra Loan Scheme Objective:

• To provide loans to handloom weavers at concessional interest rates.
• Providing 20% margin money assistance to handloom weavers.
• To improve the condition of weaving industry in the country and to provide financial help to expand the industry.
• To create employment in the country through weaving industry.

Weavers Mudra Loan Scheme Benefits:

Following Benifits received to benificiary from this loan scheme.

1. Margin Money Benefits:

• 20% Margin Money Assistance: Under this scheme, the government provides 20% margin money assistance to weavers and weaving industries.
• The government will provide margin money to individual weavers up to 20% of their loan. A weaver will get loan up to Rs. Loan amount up to Rs 2 lakh will be available and the margin money limit for a weaver will be Rs 25000/-. 25000/-.
• Handloom weavers organization will provide loan upto Rs.20 lakh and 20% margin money limit will be Rs.2 lakh.

Note : Weavers Co-operative Societies and Weavers Production Companies are ineligible for margin money assistance.

2.Interest Subsidy Benefits:

• Eligible handloom weavers organization will get loan at concessional interest rate of 6%.
• This interest waiver will be available to loan holders for three years.

3.Loan Guarantee Benefits:

• Weaver Mudra Loan will be guaranteed by National Credit Guarantee Company (NCGTS).
• The guarantee for Weavers Micro and Small Enterprises will be taken by Credit Guarantee Fund Trust (CGTMSE).
• This loan guarantee cover will be for three years.
• Under this Weaver Mudra Scheme, loan upto Rs.10 lakh will come under Mudra Loan and loan above Rs.10 lakh will be given under concessional loan.

Weavers Mudra Loan Scheme Eligibility:

The following agencies can take advantage of this scheme.

1. Self-Help Groups

2. Joint Liability Groups

3. Primary Handloom Weavers Cooperative Societies

4. Apex Handloom Weavers Cooperative Societies.

5. Handloom Weavers Producers and Industries

This scheme includes producer company’s consortia promoted by handloom weavers, including companies promoted under cluster or mega cluster or handloom park under SITPS or other schemes of the Ministry of Textiles.

Weavers Mudra Loan Scheme Participating Banks:

1. Scheduled Commercial Banks

2. Regional Rural Banks

3. State Cooperative Banks

Weavers Mudra Loan Scheme Documents Required:

1. Identity Card (Issued by Handloom Weavers Office).

2. Yarn Passbook of the applicant.

3. Identity Card (Issued by State Government).

4. Handloom Weaver Registration Certificate.

5. Profit and Loss Statement of the Industry.

6. Balance Sheet of the Industry.

7. Aadhar Card.

8. PAN Card.

9. Address Proof of the Industry.

Weavers Mudra Loan Scheme Loan Application Process:

Offline Process:

1. Contact the Approved or Listed bank.

2. Obtain the Weaver Mudra Loan application form.

3. Fill the application form completely.

4. Attach the required documents.

5. Submit it to the concerned officer.

6. Loan sanction letter will be issued by the bank within 1 month.

7. After that the participating bank will provide the eligible applicant.

Online Process:

After getting the loan, the applicant has to apply online for margin money assistance, interest subsidy and loan guarantee by visiting the official website of the government. For this, the steps given below have to be followed.

1. Visit Jansamarth Portal: The applicant has to go to the official website of the government jansamart.in.

2. Go to loan section : on home page go to business activity loan section

3.Check Eligibility: Click on check eligibility for this.

4. Fill up details: After this, you have to fill all the information asked in this section.

5. Click on calculation eligibility: After filling all the details, finally click on calculation eligibility.

6. Verify mobile number: After this the mobile number has to be included and then the mobile has to be verified through OTP.

7. Verify Email: After this you have to include your email ID. Email has to be verified through OTP.

7. Get ID & Password: After this you will get your ID and Password.

8. Log In: For this you have to log in with your ID and password.

9. Click on Process: After this you will see the option of Weaver Mudra Loan Process, do this.

10.Goto application.pnbindia.in Official Website : You will go to the official website of the government, click on this application.

11. Full fill the Application Form: After this the Weaver Mudra Scheme application form will open. You have to fill all the information asked in it.

12. Upload documents: You have to upload your necessary documents in its upload section.

13. Submit application: Finally submit the application.

14. Get Receipt: After this you will see the application receipt in front of you, download and print it.

important Links Of Weavers Mudra Loan Scheme Loan :

Jansamarth Portal:	Click Here.
Official Website:	Click Here.
Weaver MUDRA Scheme guidelines:	Click Here.
Weaver Card apply online:	Click Here.
Home Page:	Click Here.

Frequintly Ask Questions About Weavers Mudra Scheme: