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The garment manufacturers in Tiruppur and the Micro, Small and Medium-scale Enterprises (MSMEs) in Coimbatore have appealed to the Union government for financial support as the units remain shut for a
Tirupur Exporters Association also lauded the decision to extend a special liquidity facility of Rs 16,000 Crore to SIDBI for on lending/refinancing through novel models and structures and unchanged repo rate at four per cent.
Industries seek early release of support under ECLGS
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AAA Micro, Small and Medium-scale Enterprises (MSMEs) here have urged the banks to release at the earliest the 10 % assistance announced by the government under the Emergency Credit Line Guarantee Scheme (ECLGS).
R. Ramamoorthy, former president of the Coimbatore District Small Industries’ Association, said the units had sought 40 % support when the Scheme was announced last year. However, the government had announced 20 % assistance. It has now provided additional 10 % support. The government should provide another 10 % assistance under the Scheme and the banks should start releasing the funds at the earliest. “It will help the MSMEs disburse salaries and meet other fixed expenses,” he added.
The Tiruppur Exporters’ Association has welcomed the announcement by the Central government on extension of the Emergency Credit Linked Guarantee Scheme for five years. Association president Raja M. S