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Technology Upgradation Fund Scheme (TUFS)
Technology Upgradation Fund Scheme (TUFS) : Overview
Bank of Baroda grants loans under Technology Up-gradation Fund Scheme launched by Government of India as per guidelines received from time to time from Ministry of Textiles. Bank of Baroda is a nodal agency for determining eligibility and releasing of subsidy for the cases financed by the bank under the scheme.
Technology Upgradation Fund Scheme (TUFS) : Eligibility
In order to promote ease of doing business in the country and achieve the vision of generating employment and promoting export through “Make In India” and “Zero Effect and Zero Defect” in manufacturing, it has been decided that the government would provide credit linked Capital Investment Subsidy (CIS) under Amended Technology Upgradation Scheme (ATUFS).Under ATUF Scheme, every eligible individual entity (not the Unit) will be entitled for re-imbursement of Capital Investment Subsidy (CIS). Garmenting and Technical Textile Segment are eligible for 15% CIS up to Rs. 30 crores. Weaving for Brand New Shuttle-less Loom, Processing, Jute, Silk, Handloom are eligible for 10% CIS up to Rs. 20 crores. Composite Unit/Multiple Segments are eligible for up to 15% CIS subject to upper limit of Rs. 30 crores.
Amount of Loan
Minimum 3 Years
The scheme is in operation for a period up to 31.03.2022.
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Complete details of the scheme are available on the website of Ministry of Textiles Click Here
Download copies of the bank agreements to be executed by the borrowers Click Here