West Bengal Handloom and Khadi Weavers Financial Benefit Scheme 2024: Support for One Time Settlement (OTS) of NPA Accounts of PWCS
West Bengal Handloom and Khadi Weavers Financial Benefit Scheme – Support for One Time Settlement (OTS) of NPA Accounts of PWCS (2024) is a Government of West Bengal initiative implemented through the Department of Micro, Small & Medium Enterprises and Textiles, launched in 2024.
The scheme aims to provide financial relief to Primary Weavers’ Cooperative Societies (PWCS) by supporting settlement of their Non-Performing Asset (NPA) loan accounts. For you as a cooperative or MSME-linked society, this scheme helps revive operations, reduce debt burden, and restore financial stability.
Key Features
- Support for NPA settlement: Provides financial assistance for One Time Settlement (OTS) of overdue loan accounts.
- Revival of cooperative societies: Helps distressed PWCS restart operations and improve liquidity.
- Reduction in debt burden: Assists in clearing accumulated dues with financial institutions.
- Strengthening handloom sector: Ensures sustainability of cooperative-based production systems.
- Targeted beneficiary group: Specifically designed for Primary Weavers’ Cooperative Societies.
- Facilitates financial restructuring: Encourages formal settlement and closure of NPA accounts.
Financial Assistance
Eligibility Criteria
- Must be a Primary Weavers’ Cooperative Society (PWCS)
- Must be located in West Bengal
- Must have NPA loan account with bank / financial institution
- Must opt for One Time Settlement (OTS) with lender
- Must be registered with concerned department
Additional conditions:
- Settlement must be approved by financial institution
- Proper documentation of NPA and settlement required
Non-eligibility conditions:
- Individual weavers
- Non-cooperative entities
- Accounts not classified as NPA
Documents Required
- Registration certificate of PWCS
- Loan account statement showing NPA status
- OTS approval letter from bank / financial institution
- Settlement amount details
- Bank account details
- Identity documents of authorised representatives
Application Process
Option 1: Apply with Bullit, Recommended
Start instantly with our guided application support, where our team verifies eligibility, prepares documentation, and coordinates with the Industries Department on your behalf. Using our business loans and compliance calendar, you can track progress while focusing on project execution, we manage the application end-to-end.
Option 2 : Apply Online (Government Process)
- Register on West Bengal Handloom / Textile Portal
- Login using credentials
- Apply under OTS Support component
- Enter PWCS and loan account details
- Upload OTS approval and required documents
- Submit application
- Verification by department authorities
- Approval of assistance
- Disbursement of financial support
- Track application status online