Govt has no proposal to waive off ACC loan: Chander Prakash

Srinagar:- Minister for Industries and Commerce, Chander Prakash Ganga today said that there was no proposal under government consideration to waive off Artisan’s Credit Card loan on the analogy of Kissan Credit Card where there is interest subvention of 10 per cent.

Replying to a question by Abid Hussain Ansari, the Minister said that the ‘Artisan’s Credit Card Scheme’ also known as self employment to Individual Artisan is a State scheme under CAPEX budget wherein any registered artisan can avail one time loan up to Rs 1 lakh from the banks.

The Minister said that Government through Directorate of Handicrafts provides 10 per cent interest subvention on the said loan for a period of 5 years. He said that the government has provided Rs 26.36 crore as 10 per cent interest subvention for the cases sanctioned so far under the scheme. He said Rs 15.80 crore was provided by the government for the purpose during last financial year.





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