Credit Card Scheme For Artisans And Weavers Of Handicrafts And Handloom Sector
in Jammu and Kashmir
Last updated:
Credit Card Scheme For Artisans And Weavers Of Handicrafts And Handloom Sector in Jammu and Kashmir
Credit Card Scheme For Artisans And Weavers Of Handicrafts And Handloom Sector is a government scheme available to eligible residents of Jammu and Kashmir.
Apply for Credit Card Scheme For Artisans And Weavers Of Handicrafts And Handloom Sector in Jammu and Kashmir
Scheme Overview
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.
Eligibility Criteria
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.
The selection of beneficiaries under the 'Credit Card Scheme for Artisans & Weavers in the Handicrafts and Handloom sector' shall be made by a District-level Selection Committee headed by the General Manager, District Industries Centre.
Benefits
Features & Benefits:
No collateral security required
Maximum credit limit of ₹2,00,000.
7% interest subvention over a period of 5 years.
A maximum credit limit of ₹2,00,000 will be fixed with a loan component of ₹1,80,000 and the beneficiary's contribution of ₹20,000/-.
Beneficiaries under the scheme shall be issued photo cards indicating therein, the sanctioned limit and validity period of the credit facility.
Beneficiaries shall also be issued a Passbook or a Credit-cum-Passbook incorporating therein the name, address, borrowing limit, validity period, etc.
Required Documents
| # | Document |
|---|---|
| 1 | Aadhaar Card |
| 2 | Proof of Registration of the artisan/weaver with the Handicrafts and Handloom Department, J&K. |
| 3 | Bank Details |
How to Apply in Jammu and Kashmir
Fresh Application: The selection of beneficiaries under the 'Credit Card Scheme for Artisans & Weavers in the Handicrafts and Handloom sector' shall be made by a District-level Selection Committee headed by the General Manager, District Industries…
Offline Fresh Application: The selection of beneficiaries under the 'Credit Card Scheme for Artisans & Weavers in the Handicrafts and Handloom sector' shall be made by a District-level Selection Committee headed by the General Manager, District Industries Centre. Renewal Application: The credit limit could normally be valid for a period of five years subject to annual review by the bank. For the purpose of the annual review, the borrower may not be required to submit any financial statement. Based on an assessment of performance during an inspection by field staff and operations in the account, the review exercise may be carried out annually and a decision on continuation or otherwise of the limit sanctioned, below the cap of ₹ 1,80,000 may be taken. Need .for enhancement in the limit sanctioned may also be considered as part of the review. No fee will be charged for the review/ renewal of the limit.
Common questions in Jammu and Kashmir
Who can apply for Credit Card Scheme For Artisans And Weavers Of Handicrafts And Handloom Sector in Jammu and Kashmir?
Eligible residents of Jammu and Kashmir who meet the scheme’s overall criteria can apply for Credit Card Scheme For Artisans And Weavers Of Handicrafts And Handloom Sector. Refer to the eligibility section above for the complete checklist.
What documents are required for Credit Card Scheme For Artisans And Weavers Of Handicrafts And Handloom Sector in Jammu and Kashmir?
Applicants in Jammu and Kashmir typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
Frequently Asked Questions
The maximum credit limit to be sanctioned under the scheme would, however, be fixed at [?] 2,00,000.