Delhi: Sathyabama, the Member of Parliament from Tirupur has appealed to Arun Jaitley, the Union Minister for Finance to facilitate loan benefits to the power loom sector in the Tirupur region which is a job-generator for over one lakh laborers.
Delhi: Sathyabama, the Member of Parliament from Tirupur has appealed to Arun Jaitley, the Union Minister for Finance to facilitate loan benefits to the power loom sector in the Tirupur region which is a job-generator for over one lakh laborers.
The MP who met with Arun Jaitley today, noted in her memorandum that banks in the Erode district have been rejecting the application of power loom operators who have applied for loans under the Mudra scheme.
“Recently 65 online applications sent by power loom operators have been rejected, citing one reason or the other by banks in the region. So far 5,000 power loom operators have applied for loans but only 12 have received it in the Erode district,” alleged the MP in her memorandum.
The Union Minister for Finance who received the petition has promised to look into the matter and address the grievances of the power loom operators in both Tirupur and Erode districts. Under the Prime Minister’s flagship 'Mudra Scheme,' the power loom sector is given a one lakh loan with a subsidy component.
The MP who met with Arun Jaitley today, noted in her memorandum that banks in the Erode district have been rejecting the application of power loom operators who have applied for loans under the Mudra scheme.
“Recently 65 online applications sent by power loom operators have been rejected, citing one reason or the other by banks in the region. So far 5,000 power loom operators have applied for loans but only 12 have received it in the Erode district,” alleged the MP in her memorandum.
The Union Minister for Finance who received the petition has promised to look into the matter and address the grievances of the power loom operators in both Tirupur and Erode districts. Under the Prime Minister’s flagship 'Mudra Scheme,' the power loom sector is given a one lakh loan with a subsidy component.