Section 8 in Powerloom Registration Funds Rules, 1992
8. Objects of the Fund.
- The objects of the fund are as follows:-(a)to provide assistance to the Powerloom Weavers Co-operative Societies;(b)to provide financial assistance for formation of Apex. Powerloom Cooperative Society;(c)to assist to form a State Powerloom Development Corporation;(d)to assist to set up Powerloom Service Centres;(e)to assist to create pre-loom and post-loom processing units to feed powerloom industry;(f)to assist to establish design centres for powerlooms;(g)to assist to construct godowns, opening of showroom for marketing powerloom fabrics;(h)to assist to establish research and development centres;(i)to assist for modernisation of powerlooms;(j)to carry out and implement any other object which are intended for the upliftment of the powerloom industry and powerloom weavers after obtaining necessary prior approval of the Government in this regard:Provided that the financial assistance referred to shall be by way of loans at such rate of simple interest in force and as applicable to loans of Central Cooperative Banks.
