Sarkari Yojana
Credit Card Scheme For Artisans And Weavers Of Handicrafts And Handloom Sector
About Credit Card Scheme For Artisans And Weavers Of Handicrafts And Handloom Sector
Run by the Department of Handicraft & Handloom (Govt. of Jammu & Kashmir), the Credit Card Scheme for Artisans & Weavers is a loan scheme that arranges enough credit, on time, from financial institutions so that artisans and weavers can cover both investment needs and working capital flexibly and at low cost. It operates in rural and urban areas alike. Every artisan and weaver registered with the Handicrafts and Handloom Department, J&K, who works in production and manufacturing (and who would otherwise qualify for credit for the proposed activities under an existing bank scheme) can apply. 5. The credit limit remains valid for five years, subject to a yearly review by the competent authorities.
Benefits:
1. There is no need to offer collateral security 1. Credit is available up to a maximum limit of ₹2,00,000. 1. An interest subvention of 7% is given over 5 years. 1. Benefits Type (Monetary / Non-Monetary / Both): Monetary: the maximum credit limit of ₹2,00,000 is made up of a loan component of Rs.1.80 lakh and a beneficiary contribution of ₹20,000/-.
Scheme Overview
State Government
Individual
Scheme Details
Eligibility Requirements
To qualify for Credit Card Scheme For Artisans And Weavers Of Handicrafts And Handloom Sector, applicants must satisfy the following conditions:
Any artisan or weaver registered with the Handicrafts…
Any artisan or weaver registered with the Handicrafts and Handloom Department, J&K, who is engaged in production and manufacturing (and would otherwise be eligible for credit for the proposed activities under any existing bank scheme) may apply.
Beneficiaries of the 'Credit Card Scheme for Artisans…
Beneficiaries of the 'Credit Card Scheme for Artisans & Weavers in the Handicrafts and Handloom sector' are chosen by a District-level Selection Committee chaired by the General Manager, District Industries Centre.
Documents Required
Applicants should keep the following documents ready before starting the application:
A valid Aadhaar identity card
A valid Aadhaar identity card
Evidence that the artisan/weaver is registered with the…
Evidence that the artisan/weaver is registered with the Handicrafts and Handloom Department, J&K.
Particulars of the bank account
Particulars of the bank account
How to Apply
Offline Application
Applicants can apply for Credit Card Scheme For Artisans And Weavers Of Handicrafts And Handloom Sector through the offline application process outlined below.
Application Process
Fresh Application:
A District-level Selection Committee chaired by the General Manager, District Industries Centre chooses the beneficiaries of the 'Credit Card Scheme for Artisans & Weavers in the Handicrafts and Handloom sector'.
Renewal Application:
The credit limit is usually valid for five years, subject to a yearly review by the bank. Borrowers need not submit financial statements for this review. The bank reviews the account each year on the basis of field staff inspections and account operations, and decides whether the sanctioned limit, within the cap of ₹ 1,80,000, should continue. Any need to raise the limit can also be considered during the review. No fee is charged for reviewing or renewing the limit.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.