Circular No. 6
(2005-2006 Series)

Sub:

Submission of claims on monthly basis for interest reimbursement under TUFS consequent to the notification issued by Reserve Bank of India to charge the interest at monthly rests with effect from 1^st April, 2002.
 

It was clarified by Technical Advisory-cum-Monitoring Committee (TAMC) in its 16^th meeting held at Mumbai on 1^st August 2002 that in view of the RBI guidelines, if co-opted PLIs charge interest on monthly basis for new cases, the Nodal Agency may release interest reimbursement on monthly basis.  However, cases which are charge interest on quarterly basis the quarterly subsidy will continue to be released.  This decision of TAMC was informed to nodal agencies.  However, since a query has been raised by a PLI in this regard it is clarified though this circular issued for the benefit of all the TUFS beneficiaries.
 

The Nodal Agencies and co-opted PLIs are requested to take necessary action accordingly.
 

(Smt Shashi Singh)
  Joint Textile Commissioner