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Home >> Corporate Banking >> Technology Upgradation Fund Schemes (TUF Schemes)
Technology Upgradation Fund Schemes (TUF Schemes)

Our Bank has been appointed as "Nodal Agency" for implementation of the following Schemes.

  1. Technology Upgradation Fund Scheme (TUFS) of Ministry of Textiles.

  2. Credit Linked Capital Subsidy Scheme (CLCSS) for Technology upgradtion of SME's of Ministry of Micro Small Medium Entrepreneurs.(MOMSME)

  3. Plan Scheme of Technology Upgradation of Food Processing Industries of Ministry of Food Processing Industries. (MOFPI),

  4. Scheme for extending assistance to Sugar Undertakings 2007 of Ministry of consumer Affairs, Food & public distribution (SEFASU)

I) TUFS: The Scheme is in force up to 31.03.2012

Scope of the Scheme: The Scheme is available for modernisation / expansion of existing units and for setting up of new units with benchmark level of technology in textile and jute industry

Activities covered:

  • Cotton ginning and pressing, Textile industry covering Silk reeling wool scouring Synthetic filament yarn manufacturing Spinning Weaving Knitting Fabric embroidery Garment Made ups Manufacturing Processing Dyeing etc.

  • Jute Industry

The Technology Upgradation Fund Scheme envisages the following;

  1. To provide a reimbursement of Five percent age on the interest charged on a project of Technology upgradation in conformity with the scheme, up to a maximum period of ten years including implementation and moratorium period of maximum up to 2 years. However for the Spinning machinery the reimbursement will be four percentages only.

  2. The Scheme will provide 15% Margin Money subsidy for SSI Textile and Jute sector in lieu of 5% interest reimbursement on investment in TUF compatible specified machinery subject to a capital ceiling of Rs. 200 lakh and ceiling on margin money subsidy Rs.15 lakh. A minimum of 15% equity contribution from beneficiaries will be ensured.

  3. The scheme will provide additional 10% capital subsidy for specified processing machinery and specified machinery required in manufacture of Technical textiles and garmenting machineries.

  4. The scheme will provide an additional option to the power looms units to avail of 20% Margin Money subsidy in lieu of 5% Interest reimbursement on investment in TUF compatible specified machinery subject to a capital ceiling of Rs.200 lakh and ceiling on margin money subsidy Rs.20 lakh.

    This is administered directly by the Textile Commissioner's Office Mumbai.

II) Credit Linked Capital Subsidy Scheme (CLCSS) of MOMSME. Scheme was valid till 31.03.2012

Objective: The Scheme aims at facilitating technology upgradation by providing 15% upfront capital subsidy to Micro small and medium entrepreneurs including tiny khadi village and coir industrial units on institutional finance availed for induction of well established and improved technologies in the specified sub sector / products approved under the scheme.

III) Plan scheme of Technology Upgradation of Food Processing Industries (PSTU for FPI) of Ministry of Food processing industries (MOFPI)

Scope & Spread of the scheme:

  • To provide a thrust and wider coverage for food processing industries in the country.

  • Sectors in food processing such as fruits & vegetables, milk products, meat poultry, flour milling, rice milling, oilseeds products and such other agri-horticultural sectors including flavors, colours spice, etc., are covered under the scheme.

  • Aerated water, soft drinks, packaged drinking water not cover for assistance under the scheme.

  • Women, SC/ST should be given priority.

  • Covers activities leading to value addition and shelf life enhancement.

  • Assistance and eligibility under the scheme:

  • Only new food processing plant & machinery are eligible.

  • 25% of the cost of plant and machinery and technical civil work, with a Maximum grant of assistant is Rs.50 lakhs in general areas.

  • 33% up to 75 lakhs in difficult areas like Jammu & Kashmir, HP, Sikkim and North Eastern states, Andaman & Nicobar Island and ITDP areas – integrated tribal development project.

  • Technical civil works exclude office buildings, guest house, canteen and roads.

  • Units should apply before commencement of commercial production.

  • Individuals, firms co-operative, companies and PSUs are eligible.