Mr. Purohit’s announcement was in line with the recommendations made by a high-level expert committee led by former Reserve Bank of India Governor C. Rangarajan
The Tamil Nadu government will infuse fresh additional capital of ₹1,000 crore over three years into the Tamil Nadu Industrial Investment Corporation (TIIC) to enable its function as an effective term-lending institution and also expand lending operations to cover the large number of MSME units that still do not have access to institutional credit, Governor Banwarilal Purohit announced in the Assembly on Monday.
Mr. Purohit’s announcement was in line with the recommendations made by a high-level expert committee led by former Reserve Bank of India Governor C. Rangarajan that was constituted by the State government to recommend measures to help important sectors of the economy overcome the impact of the COVID-19 pandemic and to support and promote further growth.
During his customary address in the floor of the House,…