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TIIC loan mela held

Staff Reporter

— Photo: M. Balaji.

Popularising schemes: The loan mela organised by Tamil Nadu Industrial Investment Corporation Limited in Tirupur.

Tirupur: As many as 240 proposals seeking term loans worth Rs. 48 crore were received at the loan mela organised by the Tamil Nadu Industrial Investment Corporation Limited (TIIC) here on Thursday.

The event was organised to popularise the schemes extended by TIIC for establishing new industrial units as well as for expansion and modernisation of existing units in different segments.

Inaugurating the event, Collector C. Samayamoorthy called upon the entrepreneurs in the textile sector to utilise the term loan and working capital assistance extended by TIIC to modernise their units and thereby give value addition to their product portfolio.

He said the administration would consider the requests of the textile businessmen for an exclusive grievances meeting for them similar to the ones conducted for farmers and ex-servicemen.

P. Sundaram, branch manager, TIIC, said that the Tirupur branch of TICC had sanctioned loans worth Rs. 21 crore during the last fiscal under various schemes.

He said that all the 240 applications would be processed immediately to ensure speedy disbursal.

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