Telangana asks for relaxation in bank financing for textile projects
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January 22, 2022 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.<br>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.<br>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.<br>This will allow companies to finance their projects in a manner appropriate to their size and business requirements while ensuring adequate project scrutiny by notified lending institutions,” he said.<br>He expressed hope to receive a favorable response in the interest of welfare of the weavers community and handloom and textile industry of the state.<br>
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