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Jammu and Kashmir

Credit Card Scheme For Artisans And Weavers Of Handicrafts And Handloom Sector

Loan
Details
Benefits
Eligibility
Application Process
Documents Required
Frequently Asked Questions
The Credit Card Scheme for Artisans & Weavers is a loan scheme by the Department of Handicraft & Handloom (Govt. of Jammu & Kashmir) under which adequate and timely assistance from the financial institutions is provided to the Artisans and Weavers to meet their credit requirements of both investment needs as well as working capital in a flexible and cost-effective manner. The scheme would be implemented both in rural and urban areas. All Artisans and Weavers who are duly registered with the Handicrafts and Handloom Department, J&K, and are involved in production and manufacturing processes (otherwise eligible for credit facilities for carrying out the proposed activities under any of the existing bank schemes) shall be eligible. 5. The limit shall be valid for a period of five years subject to annual review by the competent authorities.

Benefits:
  1. No collateral security required
  2. Maximum credit limit of ₹2,00,000.
  3. 7% interest subvention over a period of 5 years.
  4. Benefits Type (Monetary / Non-Monetary / Both): Monetary: A maximum credit limit of ₹2,00,000 will be fixed with a loan component of Rs.1.80 lakh and the beneficiary's contribution of ₹20,000/-.
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