Andhra Pradesh govt waives off loans of weavers

Andhra Pradesh government has waived off the loans taken by the weavers from the cooperative societies under its waiver schemes, the East Godavari district collector M Ravichadnra said today.
   
The district collector said that the state government released funds to 50 cooperative societies in the district and interest accrued to weavers would be paid by the government.
   
The state has released Rs10,89,44,946 to district central cooperative banks for 2009-10 for the purpose, the collector said.
   
The bank will repay the amount to the societies while the government will repay the loan amount to the district central cooperative banks for this purpose.