National Bank for Agriculture and Rural Development (Nabard) has identified 124 primary weavers’ cooperative societies in the State eligible for the Centre’s revival, reform and restructuring package.

An aggregate amount of Rs 23.458 crore (including State Government share of Rs 5.58 crore) has been released as assistance under the package to the eligible societies.

NABARD AGENT

Release of recapitalisation amount is expected to financially strengthen the weavers cooperatives as also improve credit flow to the sector, a spokesman for the regional office of Nabard said here.

The revival, reform and restructuring package for the handloom sector under the aegis of the Ministry of Textiles is being implemented through Nabard.

The entire scheme was approved by Cabinet Committee of the Government of India and the Ministry of Textiles was directed to follow the guidelines strictly.

Some reports appeared in the media indicating that the eligibility criteria for the cooperative societies for accessing assistance under the package were declared by Nabard.

MONITORING PANEL

The spokesman sought to clarify that the scheme and the guidelines under the package including the eligibility criteria were issued by the Ministry of Textiles, Government of India.

Further, the national implementation, monitoring and review committee, constituted under the package is chaired by Secretary, Ministry of Textiles.

It has members from the Centre, Reserve Bank, Nabard, handloom departments of the State (Kerala is represented by director, handloom and textiles) and banks. It is the nodal agency to recommend for changes/modifications of the schemes under the package.

vinson.kurian@thehindu.co.in

(This article was published on April 5, 2013)
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