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Allahabad Bank has begun to issue a credit card designed for use by weavers, a spokesperson for the India-based financial institution tells CardLine Global. The cards will have spending limits of 25,000 rupees (US$520 or 355 euros) and interest rates of 9%, the spokesperson says. "This way, [weavers] will not be dependent on the money lenders to procure raw material," the spokesperson says. The bank already has issued 200 cards to weavers in the city of Benaras. "Our aim is to issue cards to the weavers from Varanasi, Mirzapur, Azamgarh, Chandauli and Sant Kabirnagar," the spokesperson adds.
