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States » South


Telangana asks for relaxation in bank financing for textile projects

Hyderabad, Jan 21 (UNI) Telangana Government on Friday requested the Union government for relaxation of bank financing requirement under Amended Technology Upgradation Fund (ATUF) Scheme for large textile projects.
In a letter to Union Ministers Nirmala Sitharaman and Piyush Goel, Telangana Minister for industries K T Rama Rao (KTR) on behalf of the textile companies looking to set up new textile manufacturing units in Telangana, urged the Union Government for relaxation of bank financing requirements under ATUF Scheme for large textile projects.
He requested them to relax the requirement of term loan financing of the project, from 50 per cent at present, to a nominal 5 percent of the project cost.
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