Irani reviews MUDRA scheme for weavers

 New Delhi: Union Textiles Minister Smriti Irani on Monday reviewed the MUDRA scheme for providing credit to handloom weavers in a meeting with representatives from state governments and banks here.

The Weaver MUDRA scheme facilitates margin money of up to Rs 10,000, credit guarantee and loans at concessional rate of 6 per cent for a period of three years.

So far 23,611 MUDRA loans have been sanctioned by 56 banks to handloom weavers in 19 states.

"Exhorted banks to speed-up issuance of RuPay Cards so as to enable weavers access maximum benefit & also move towards digitisation (sic)," Irani tweeted. The Ministry of Textiles has set a target of extending MUDRA loans to five lakh handloom weavers in the three years starting from June 2016.