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Technology Upgradation Fund Scheme (TUFS)

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Technology Upgradation Fund Scheme (TUFS)

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.

Objective

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 uptoRs. 30Cr. Weaving for Brand New Shuttle-less Loom, Processing, Jute, Silk, Handloom are eligible for 10% CIS uptoRs. 20Cr. Composite Unit/Multiple Segments are eligible for upto 15% CIS subject to upper limit of Rs. 30Cr.

Amount of Loan

Need based.

Repayment Period

Minimum 3 Years

Programme Period

The scheme is in operation for a period upto 31.03.2022.

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