Weavers Finance

After agriculture the most important credit requirement is for the weaving community.
The NABARD announces its credit policy for weavers every year based on which the eligibility for financing the working capital requirements of Apex Cooperative Weavers Society (APCO) and Primary Weavers Cooperative Society ( PWCS) will be worked out.
The APCOB provides working capital finance to APCO for meeting its requirements under trading in yarn and marketing of cloth (both cotton and silk). APCO is the principal marketing agency for the Primary Societies by providing the required raw material of yarn to them. APCOB also provides refinance to the DCCBs against their lending to the PWCS.
Working Capital Finance is provided to the PWCS for their production and marketing activities in respect of existing active looms as well as new looms activated.
The rate of interest depends on the refinance rate prescribed by NABARD and varies from time to time.