Mahatma Gandhi Peace Mission extends helping hand to weavers

Ludhiana, June 5, 2017: At the behest of Punjab National Bank, which is lead bank of the Punjab State, a seminar was held today on 5th of June 2017 at district level lead bank office where score of weavers attended to know about Weavers MUDRA Yozna. Incidentally, all the weavers belonged to minority community. Mahatma Gandhi Peace Mission promised all help to weavers in getting loans under the scheme from different banks by filling their applications and other papers without any charges to them . As per scheme detailed by Punjab National Bank *,working capital loans are extended by banks including PNB upto 5 lacs where in GOI is helping weavers upto 10000/- in building up margin for availing loan at effective rate for the weaver at 6% PA as subsidy will also be provided by GOI through nodal offices. Scheme also facilitates weavers to get loans without any collateral security including guarantee which however will be secured by GOI organization CGTMSE at very nominal fee for the borrower.

Bank officials both of PNB and PSB stressed that borrowers should not be prior defaulters of any other financial institutions. Mr Shamshad Ahmad, President of weavers society promised that no defaulter will be introduced to banks.Mr Goyal, Org Secretary of the mission requested bankers that weavers be served in one sitting after they prepare their papers instead of taking rounds of banks.Mission will also provide financial help to weavers for putting up their hand- loom products in an exhibition.