Telangana Govt waived off handloom loans, says Collector

Telangana Govt waived off handloom loans, says Collector
Highlights

The State government waived off loans taken by handloom workers to bail them out of their problems, said District Collector Ch Siva Lingaiah, at a meeting with the representatives of Handloom workers Loan waive Committee here at the camp office in the Collectorate on Tuesday

Mahabubabad: The State government waived off loans taken by handloom workers to bail them out of their problems, said District Collector Ch Siva Lingaiah, at a meeting with the representatives of Handloom workers Loan waive Committee here at the camp office in the Collectorate on Tuesday.

Speaking on the occasion, Collector Ch Shiva Lingaiah said that about 65 handloom workers had taken Rs 17.38 lakhs as loan from various national banks and from DCCB from April 1, 2010 to March 31, 2017. The government, which came to know about the problems being faced by handloom workers in repaying the loans, decided to waive off the loans taken by them, he explained.

About 49 handloom workers made partial payment of loan while 19 workers cleared the total amount of loan to the banks. The government decided to return the principal amount paid by handloom workers along with waiving off the remaining loan amount, said the Collector.

Regional deputy director of handloom department M Srinivas, additional director Raghava Rao, administrative officer Rajeshwar Rao and DCCB manager Rajitha were present along with others.

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