Tamil Nadu Industrial Investment Corporation organises loan mela at Krishnagiri

Krishnagiri: The Tamil Nadu Industrial Investment Corporation (TIIC) organised a loan mela on Tuesday to promote industries in backward Krishnagiri. The conference-cum-loan mela was inaugurated by Mr S. Govinda Swamynathan, deputy general manager (DGM) for TIIC. Mr Govinda Swamynathan asked entrepreneurs to make use of the new loan scheme introduced by TIIC. Entrepreneurs can avail of interest rebate up to 3 per cent under the new scheme against 12.5 per cent charged earlier, he said.

Besides, 25 per cent upfront subsidy is given on the cost of land, building and machinery if the total investment does not exceed Rs1 crore. Mr T. Ekambavanan, president of the Krishnagiri Small and Tiny Industries Association, asked the DGM to open a TIIC branch in Krishnagiri as the existing branch in Hosur was too far for entrepreneurs in and around Krishnagiri.