TUFS Soon
The Office of Textile Commissioner plans to introduce web-based eligibility verification under ‘Technology Upgradation Fund Scheme’ (TUFS). “We are developing the software for this,” Joint Textile Commissioner Shashi Singh told The Hindu here on Saturday. The system was mooted by banks. All banks involved in TUF disbursement would be covered. Ms. Singh explained that when industries applied to the banks for loans, banks would sanction the loan and for those applying under the TUFS, the application would be sent to the TUFS cell of the bank.The cell would verify the eligibility of the borrower and the investment amount eligible for TUFS benefit. With the web-based system, banks and the Office of the Textile Commissioner would be able to verify the details of units and the amount sanctioned under the scheme.This would bring about transparency and reduce disputes, she said. The banks were already using the online data submission system for TUFS sanctions. Bank personnel would be trained for web-based eligibility checking, she said.
