In an attempt to enhance assistance for handloom weavers towards meeting credit requirements towards investment as well as working capital, it has been decided to issue 1,500 Weavers Credit Cards (WCC) in the district during the current fiscal.
“This is 500 more than the targets set for the previous financial year (ie 2012-13),” Lead District Manager R. Rajagopal told The Hindu.
For effective implementation and speedy issuance of the WCC, the Lead Bank has recently set up a ‘Bunker desk’ at its office in a business facilitation model.
“The creation of ‘Bunker desk’ is aimed at collecting all the applications duly recommended by the Assistant Director of Handlooms at a single point before distributing to the banks concerned. This will avoid confusions otherwise could happen if the applications are been asked to take directly to the banks,” Mr. Rajagopal said.
During the current fiscal till August 26, a total of 933 WCCs were distributed through branches of 11 banks.
Of the banks, Canara Bank distributed the maximum of 813 cards in this fiscal followed by State Bank of India (64). “The credit limit for each of the cards are fixed on the basis of assessment on working capital requirements as well as cost of tools needed for carrying out weaving activity,” banking sources said. Sources added that greater thrust on issuance of WCCs was taken up in order to bring ore weavers into institutional credit delivery mechanism as most of them in the past many years were found to be meeting their credit needs through informal channels.