(a) Easing of norms for release of subsidy under TUFS & (b) Information sought by Ministry of Textiles from the Textile Industry

To: Members of the Council

Sub.: (a) Easing of norms for release of subsidy under TUFS & (b) Information sought by Ministry of Textiles from the Textile Industry 

Dear Member, 

We would like to inform you that the Council has received a communication from Office of Textile Commissioner informing about the modification of the guidelines for easing norms for release of subsidy under TUFS (copy of Order attached) to support the textiles industry. These guidelines have been modified in view of the COVID-19 outbreak and to ensure economic situation.

The modified guidelines/protocol shall allow for release of subsidy against Bank Guarantee for claims which have been recommended by JIT but are awaiting scrutiny of Competent Authority (CA), as per delegation of powers, under TUFS.

Further, it may be informed that the Ministry is seeking data from you regarding details of Working Capital Loans and Term Loans availed so as to formulate possible relief measures, if required.  

Members are requested to kindly send the information by today itself in the below format to ed@srtepc.in, sybil@srtepc.in and annie@srtepc.in. 

Details of loan by each unit & its status (All figures to be indicated in Rs. Crores)

Members may kindly make a note of the above and do the needful at the earliest.

Thanking you,

Yours faithfully, 

S.BALARAJU

EXECUTIVE DIRECTOR