Please refer to our Policy Circular No. 191/DoR-52/2019-20 dated 21 June 2019 read with Circular No.75/DoR-25/2014 dated 23 April 2014 communicating NABARD’s policy for F.Y. 2019-20 for provision of short term credit limit to Regional Rural Banks for financing working capital and marketing requirements of individual weavers / Handloom Weaver Groups (HWGs)/ Master Weavers, weaver members of defunct/ non-working weaver societies, Mutually aided Cooperative Societies, Societies outside the Cooperative folds and Producer Group Companies.
2. It has been decided to broadly, continue the same policy during the year 2020-21. The eligibility criteria pertaining to the policy for current financial year is furnished in the Annexure.
3. Interest rate on NABARD's refinance under this line of credit is at present 5.55 % p.a., payable at quarterly rests on the first day of each quarter i.e. on 01 July, 01 October, 01 January and 01 April every year, or on repayment of the entire principal amount. It is, however, subject to revision by NABARD from time to time. Theterms and conditions and quantum of refinance as indicated in our Circular No.75/DoR-25/2014 dated 23 April 2014 may also undergo changes accordingly.
4. Kindly acknowledge receipt of the same.