Bank of Baroda grants loans under Technology Upgradation 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 SSI unit in textile industries and cotton ginning and pressing sectors financed by Bank of Baroda.
OBJECTIVE
To provide encouragement to textile industrial units in the small scale sector for taking up technology upgradation and to modernise their production facilities.
The scheme envisages interest incentive of 5 percentage points on the loans availed by small scale units from eligible Primary Lending Institutions (PLIs) i.e. bank for undertaking technology upgradation/modernisation. New units set up with technology as per guidelines of the scheme would also be eligible for the above incentive, or, Credit Linked Capital Subsidy upto 15% for Small Scale Textiles/Jute Industries and 20% for Powerloom Sector.
PROMOTERS’ CONTRIBUTION
- Minimum 20% of the project cost.
AMOUNT OF LOAN
PROGRAMME PERIOD
- The scheme is in operation for a period upto 31.3.2007.
- Complete details of the scheme are available on the website of Ministry of Textiles.
To know the current interest rates Click here.
