Pradhan Mantri Credit Scheme for Powerloom Weavers

Key facts

Benefits

Beneficiaries can receive a one-time subsidy of up to ₹1 lakh and access loans of up to ₹10 lakhs at a reduced interest rate of 6% per annum.

Who can apply

• For: weaver
• not income tax payer
• no government employee in family
• poor household

Eligible applicants include individual power loom weavers and group enterprises involved in weaving activities. Key exclusions are income tax payers and families with government employees.

How to apply

Applications must be submitted through designated lending agencies, which will conduct due diligence before loan approval.

1. Gather required documents including proof of identity and residence.
2. Visit a designated lending agency to initiate the application process.
3. Submit the application along with necessary documents and quotations for machinery.
4. Await verification and approval from the lending agency and Textile Commissioner.
5. Receive the subsidy and loan amount upon approval.

Documents required

• Proof of identity (Voter’s ID, Driving Licence, PAN Card, Aadhaar Card, Passport)
• Proof of Residence (recent utility bill, property tax receipt, etc.)
• Recent Photograph (2 copies)
• Quotation of Machinery/Other items to be purchased
• Proof of Identity/Address of the Business Enterprise
• Proof of category (SC/ST/OBC/Minority)

Frequently asked questions