BANK NEWS
PNB launched cash credit and Loan Facility for the weavers
New Delhi: One of the top state-owned bank Punjab National Bank (PNB) launched a scheme to facilitate cash credit or loans to weavers against their credit requirements on Thursday. The Bank launched the scheme under PNB Weaver Mudra Scheme (PNBWMS).
The loan is provided up to Rs 2 lakh as per the scheme of the Ministry of Textiles. The main aim is to provide adequate and timely assistance through cash credit and loans such as investments and working capital flexibly and cost-effectively in both rural and urban areas, the bank stated in a statement.
Added, "With the introduction of MUDRA loan under the PM Mudra Yojana, the Ministry of Textiles wanted options for working capital needs of weavers under 'Shishu' and 'Kishore' Category along with the issue of MUDRA card hence the PNBWMS"
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